Rank: Newbie
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Joined: 11/14/2009(UTC)
Posts: 3
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Hi Guys and Gals, first post. I'm looking for a pivot point formula to use on a weekly and daily chart. Can anyone assist?
Happy trading,
AshBird
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Rank: Advanced Member
Groups: Registered, Registered Users
Joined: 11/25/2006(UTC)
Posts: 79
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Google "pivot formula" or see here:
http://hubpages.com/hub/Pivot_Point
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Rank: Newbie
Groups: Registered, Registered Users
Joined: 11/14/2009(UTC)
Posts: 3
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Many thanks wblam, can you help me further? The formula is below. I have no problems with creating PP but when it comes to R1/R2 etc I get an error message (the part from 'then'). Are all the paramaters created on one indicator? Or are R1/R2 created on their own one then drages onto the chart? (apologies but I'm a mere novice)
Formula
PP = (H + L + C) / 3
then
* R1 = (2*PP) - L
* R2 = PP + (H - L)
* R3 = H + 2*(PP-L)
* S1 = (2*PP) - H
* S2 = PP - (H - L)
* S3 = L - 2*(H - PP)
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Rank: Advanced Member
Groups: Registered, Registered Users
Joined: 11/25/2006(UTC)
Posts: 79
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PP := (H + L + C) / 3;
R1 := (2*PP) - L;
R2 := PP + (H - L);
R3 := H + 2*(PP-L);
S1 := (2*PP) - H;
S2 := PP - (H - L);
S3 := L - 2*(H - PP);
R1;R2;R3;PP;S1;S2;S3;
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Rank: Newbie
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Joined: 11/14/2009(UTC)
Posts: 3
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