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PivotPointUniversal - indicator for MetaTrader 5

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41770
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Published:
2010.04.26 10:46
Updated:
2016.11.22 07:32

The indicator plots Pivot levels for all the available history. It doesn't uses any objects.

There are 5 variants of Pivot levels is supported. There are 3 calculation periods: daily, weekly, monthly. For the daily pivot levels it's possible to specify the GMT time shift.

The formulae, used for the calculation, are:

PIVOT_CLASSIC

Pivot (P) = (H + L + C) / 3
Resistance (R1) = (2 * P) - L      Support (S1) = (2 * P) - H
R2 = P + H - L                           S2 = P - H + L
R3 = H + 2 * (P - L)                   S3 = L - 2 * (H - P)

PIVOT_FIBONACCI

Pivot (P) = (H + L + C) / 3
Resistance (R1) = P + 0.382(H – L)      Support (S1) =  P – 0.382(H – L)
R2 = P + 0.618*(H – L)                       S2 = P – 0.618*(H – L)
R3 = H + *(H – L)                             S3 = L - (H – L)

PIVOT_DEMARK

If C < O Then X = H + 2 * L + C;
If C > O Then X = 2 * H + L + C;
If C = O Then X = H + L + 2 * C;
Resistance (R1) = X / 2 - L; Support (S1) = X / 2 - H

PIVOT_CAMARILLA

R4 = (H - L) X 1.1 / 2 + C    R3 = (H - L) X 1.1 / 4 + C    R2 = (H - L) X 1.1 / 6 + C    R1 = (H - L) X 1.1 / 12 + C
S1 = C - (H - L) X 1.1 / 12   S2 = C - (H - L) X 1.1 / 6     S3 = C - (H - L) X 1.1 / 4     S4 = C - (H - L) X 1.1 / 2

PIVOT_WOODIES

Pivot (P) = (H + L + 2 X C) / 4
Resistance (R1) = (2 X P) - L         Support (S1) = (2 X P) - H
R2 = P + H - L                              S2 = P - H + L

At the image there are 4 indicators of PIVOT_CLASSIC with the different parameters are presented. The first parameter (GMT shift) is actual for the daily Pivots only.

If you have found any errors, please report at Forum and we will fix them ;)

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/102

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