Rank: Member
Groups: Registered, Registered Users, Subscribers
Joined: 5/21/2005(UTC)
Posts: 16
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How do program the daily, weekly & monthly pivot point, R1, R2, S1 & S2 in the single EOD chart ?
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Rank: Advanced Member
Groups: Registered, Registered Users
Joined: 6/3/2005(UTC)
Posts: 64
Location: India
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create a new indicator
and use the following fomrula in there. i mean just paste the blow formulas as it is in there.
pivot:=(2*H + L + C)/4;
r1:= (2 * pivot - L);
s1:= (2 * pivot - H);
r2:= (pivot - s1 + r1);
r3:= (2 * (pivot - L) + H);
s2:= (pivot - (r1 - s1));
s3:= (L - (2 * (H - pivot)));
pivot;r1;s1;r2;s2;r3;s3
once u have done pasting
then open any chart , and choose the new indicator and plot on chart.
u will get seven trendlines. just use them , u can try changing colours of each line.
byeeeee
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Rank: Newbie
Groups: Registered, Registered Users
Joined: 12/19/2006(UTC)
Posts: 3
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Where did you get the following calculation from ?
Pivot Point = (2*H+L+C)/4
It gives an upward bias to the calculation of the Pivot Point !
I think the most commonly used calculations would be:
Pivot Point = (H+L+C)/3
OR
Pivot Point = (O+H+L+C)/4
Regards,
Crash.
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Rank: Advanced Member
Groups: Registered, Registered Users
Joined: 6/3/2005(UTC)
Posts: 64
Location: India
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hi, i iuse that in indian markets and it works very weell there. so little bit change does the magiccccccccc...... try in indian stocks.....
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