OPEN-SOURCE SCRIPT
Pivot Point - @tradingalert.net
Pivot Point:This Pivot indicator only calculate the last Pivot based on the prior trading day high, low, close.
Formula: pHigh(previous day high), pLow(previous day low), pClose(previous day close)
PP = (pHigh+pLow+pClose) / 3
R1 = PP+(PP-pLow)
S1 = PP-(pHigh - PP)
R2 = PP + (pHigh - pLow)
S2 = PP - (pHigh - pLow)
R3 = pHigh + 2 * (PP - pLow)
S3 = pLow - 2 * (pHigh - PP)
Formula: pHigh(previous day high), pLow(previous day low), pClose(previous day close)
PP = (pHigh+pLow+pClose) / 3
R1 = PP+(PP-pLow)
S1 = PP-(pHigh - PP)
R2 = PP + (pHigh - pLow)
S2 = PP - (pHigh - pLow)
R3 = pHigh + 2 * (PP - pLow)
S3 = pLow - 2 * (pHigh - PP)
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.