Wayne's Pivots

An indicator that forecasts the next period's pivots .
Phát hành các Ghi chú: - Added the predictive pivot point feature to the indicator.
- Added easy to use resolution feature. Generate pivots for lower timeframes based on the on Daily, Weekly, and Monthly resolutions.
- Added options to change the highlighting for bullish, bearish, and OOP modes.
- Labels are now set to show up only on the next pivot.
- Plots used to replace lines so there's more historical pivots.
- Breaks added between lines and background coloring to create visual gaps.
Phát hành các Ghi chú: Update developed in collaborations by Josh Baus (@jsrbaus) and Wim Van Ertvelde (@wimvanertvelde).

Indicator Features:
  • View the developing pivot points for the next trading period on your chart.
  • Plots middle pivots between the traditional ones. These are labeled as M1 to M4.
  • The indicator will automatically switch between daily, weekly, and monthly pivots depending on the timeframe.
  • Customize the colors for the support, resistance, and central pivot lines independently of each other.
  • Utilize the bullish bias, bearish bias, and OOP (Out Of Position) highlights to help you focus on your trading bias.
  • Set the color and transparency for your bullish, bearish, and OOP biased highlights.
  • Open source code for future contributions and private modifications.

Over time we hope to add more features and possibly include more collaborators to this indicator in the future.

How do I setup the indicator so it only shows daily, weekly, or monthly period pivot points without automatically changing?
In the settings under Time Frame select the 1 day, 1 week, or 1 month option depending on the pivot you want. If you want to go back to using the automated pivots, then set the Time Frame option to Same as Symbol.

How do I remove the labels on the pivot point levels like R2 and M1?
There's a checkbox called Show Levels for that directly under the Time Frame drop down box. Just check it off if you don't want the level labels.

Why is there text floating above my chart saying "Dayly Pivot" or "Weekly Pivot"?
Those labels tell you which resolution pivot points the indicator has selected to put on your chart. If you just want to turn off this text the go to the Styles tab and uncheck the Labels box.
Phát hành các Ghi chú: A new update was pushed for Pine today updating color inputs. This allowed me to not only clean up the code but add some new functionality to the indicator!

- Set any color and transparency to the central pivot, support, and resistance lines separately.
- Set any color and transparency to the labels for each of those lines separately.
- Removed old, commented out code that no longer serves being in the indicator.
- Updated the 'Show Levels' button to say 'Show Pivot Labels'.
- Updated indicator short title from 'Waynes Pivots' to 'Wayne's Pivots' just like the script's title.

I still read the comments, so if you have suggestions or questions just ask.
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Bình luận

sir can you explain your indicator on its usage
+2 Phản hồi
amasani76 nalini-senthil
@nalini-senthil, You can follow Wayne himself in his daily webinar youtube forex.today
it is awsome
+1 Phản hồi
Thank you
Phản hồi
This looks nice. Is there please a chance to run it at MT4?
Phản hồi
Thank you Josh
Phản hồi
Hey there, great code. Thanks for sharing. Do you happen to know how to plot X period back? For example, I only want to check the past five days' data. What should I do?
Phản hồi
jsrbaus Catpital
@Catpital, it's a limitation of pine that doesn't allow us to do that. At least, not without using line functions, and we couldn't get the next period's pivots to show properly without using plots.

If you want to talk about the indicator more, I started up a group chat you and more people are free to ask questions and share chart is about the pivots: https://www.tradingview.com/chat/#f5nd57HfGw2sioQN
Phản hồi
what are the M's mean? R= resistance, S=support, but M? I don't know.
Phản hồi
jsrbaus HTP0429482
@HTP0429482, yeah I understand how that can be easily confusing. Here's how it works:

The M# start from bottom to top. So we have M1 at the bottom, then M2 and M3, and M4 at the top. The letter "M" stands for Middle or Midpoint. So the M2 is the midpoint between the S2 and S1. That would mean that the M4 is the midpoint between R2 and R1. These midpoints are a critical point of what makes this indicator different from all other pivot indicators; outside of being able to see the next session's pivots in real time.

If you want to talk about the indicator more, I started up a group chat you and more people are free to ask questions and share chart is about the pivots: https://www.tradingview.com/chat/#f5nd57HfGw2sioQN
Phản hồi
That is great. thanks a lot.

Is there any possible to Calculate the pivot point start from London or newyork market open time?
Phản hồi
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