Rank: Member
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Joined: 10/28/2004(UTC)
Posts: 16
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Folks:
Newby question - I am trying to figure out a really simple indicator - pivot points. A search on the net did not produce results I could use, so here's my dumb question:
Given:
H = previous bar's high
L = previous bar's low
C = previous bar's close
Pivot Point = (H + L + C)/3
Resistance = 2*PP - L
Support = 2*PP - H
There would then be an indication plotted of support and resistance.
I just know that to do this in Metastock is incredibly simple but I seem to be drawing a complete blank. Any help in getting started would be appreciated. Thanks in advance.
-- Keith
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Rank: Advanced Member
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Joined: 9/8/2004(UTC)
Posts: 2,266
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Try this in the indicator builder.
PP:=Ref((H + L + C)/3,-1);
LastValue(2*PP-L);
LastValue(2*PP-H);
Patrick :mrgreen:
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Rank: Member
Groups: Registered, Registered Users
Joined: 10/28/2004(UTC)
Posts: 16
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Thanks Patrick, that did the trick. I'm in the process of watching your training videos, so hopefully my next question may be a little more advanced :-)
-- Keith
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Joined: 9/8/2004(UTC)
Posts: 2,266
Was thanked: 1 time(s) in 1 post(s)
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No problem :wink:
I like easy questions, it makes me look smart 8) :lol:
Patrick
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