Greetings colleagues Today I share the classic pivot points indicator Added options: Standard levels Fibonacci levels "up to 261'8" Logarithmic scale option
//Pivot Points Standard //Pivot Points Standard — is a technical indicator that is used to determine the levels //at which price may face support or resistance. The Pivot Points indicator consists of //a pivot point (PP) level and several support (S) and resistance (R) levels. // //Calculation //PP, resistance and support values are calculated in different ways, depending on //the type of the indicator, specified by the Type field in indicator inputs. To //calculate PP and support/resistance levels, the values OPENcurr, OPENprev, HIGHprev, //LOWprev, CLOSEprev are used, which are the values of the current open and previous //open, high, low and close, respectively, on the indicator resolution. The indicator //resolution is set by the input of the Pivots Timeframe. If the Pivots Timeframe is set //to AUTO (the default value), then the increased resolution is determined by the //following algorithm: // //for intraday resolutions up to and including 15 min, DAY (1D) is used //for intraday resolutions more than 15 min, WEEK (1W) is used //for daily resolutions MONTH is used (1M) //for weekly and monthly resolutions, 12-MONTH (12M) is used
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Replace 2.236 to 2.00
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Well colleages , here a major outage of the indicator" enjoy...
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