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PivotPoint

The indicator draws daily support and resistance lines on the chart, as well as the Pivot level (reversal level).

The indicator parameters:

  • DayBack - number of days for marking lines;
  • PPcolor - Pivot line color;
  • PPwidth - Pivot line thickness;
  • PPstyle - Pivot line style;
  • Supp - color of support lines;
  • Sstyle - style of support lines;
  • Swidth - thickness of support lines;
  • Resist - color of resistance lines;
  • Rstyle - style of resistance lines;
  • Rwidth - thickness of resistance lines.
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Version 2.0 - 2016.08.25
Fixed minor defects in drawing support and resistance lines.
Updated calculation formulas.
Version 1.20 - 2014.12.24
Added an option "Calculate the next day" - the parameter to select if the the lines of support and resistance for the following day will be displayed.

This option will help to calculate where to put StopLoss and TakeProfit for a deal transferred to the next day.

(Use caution! Support and resistance levels for the next day are formed during the current day!)