Pivot points
Support and resistance levels projected from the previous day, week or month.
Inputs
| Name | Type | Default |
|---|---|---|
| kind | choice | standard |
| period | choice | D |
| day_boundary | text | 17:00 America/New_York |
Outputs
| Name | Type | Required | Description |
|---|---|---|---|
| pp | value | Optional | color theme.accent, style step, width 1 |
| r1 | value | Optional | color theme.down, style step, width 1 |
| r2 | value | Optional | color theme.down, style step, width 1 |
| r3 | value | Optional | color theme.down, style step, width 1 |
| r4 | value | Optional | color theme.down, style step, width 1 |
| r5 | value | Optional | color theme.down, style step, width 1 |
| s1 | value | Optional | color theme.up, style step, width 1 |
| s2 | value | Optional | color theme.up, style step, width 1 |
| s3 | value | Optional | color theme.up, style step, width 1 |
| s4 | value | Optional | color theme.up, style step, width 1 |
| s5 | value | Optional | color theme.up, style step, width 1 |
- Warm-up
- 0 bars (0 at the defaults)
- Repaints
- No
- Parity
- None
Formula
H, L, C and O are the highest high, lowest low, last close and first open of the previous period; every bar of a period carries the levels computed from them.
standard: P = (H + L + C) / 3, R1 = 2P - L, S1 = 2P - H, R2 = P + (H - L), S2 = P - (H - L), R3 = R1 + (H - L), S3 = S1 - (H - L)
fibonacci: P = (H + L + C) / 3, R and S = P plus and minus (H - L) times 0.382, 0.618, 1 and 1.618 for levels 1 to 4
camarilla: P = (H + L + C) / 3, R and S = C plus and minus (H - L) * 1.1 divided by 12, 6, 4 and 2 for levels 1 to 4, R5 = H / L * C, S5 = 2C - R5
woodie: P = (H + L + 2C) / 4, R1 = 2P - L, R2 = P + (H - L), S1 = 2P - H, S2 = P - (H - L)
demark: X = H + 2L + C if C < O, 2H + L + C if C > O, else H + L + 2C; P = X / 4, R1 = X / 2 - L, S1 = X / 2 - H
A trading day starts at the day boundary in its own time zone, so a change of clocks moves the bars but not the boundary. No value until one full period has closed.