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I have listed 2 different Pivot Points calculations methods, I want to know how can they be coded to be used in MetaStock
Demark Pivots Points calculations.
If Close < Open, then X = High + (2 x Low) + Close If Close > Open, then X = (2 x High) + Low + Close If Close = Open, then X = High + Low + (2 x Close) Pivot Point (P) = X/4 Support 1 (S1) = X/2 - High Resistance 1 (R1) = X/2 - Low
Fibonacci Pivot Points calculations. Pivot Point (P) = (High + Low + Close)/3 Support 1 (S1) = P - {.382 * (High - Low)}Support 2 (S2) = P - {.618 * (High - Low)}Support 3 (S3) = P - {1 * (High - Low)}Resistance 1 (R1) = P + {.382 * (High - Low)}Resistance 2 (R2) = P + {.618 * (High - Low)}Resistance 3 (R3) = P + {1 * (High - Low)}
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