DF Daily PivotPoint Support and Resistance
This indicator calculates daily pivot point, support and resistance price and then adds lines on the chart.
Indicator's calculation method is classic formulation.
- RANGE= (HIGH - LOW)
- R3 = HIGH + ( 2 * (PP - LOW) )
- R2 = PP + RANGE
- R1 = (2 * PP) - LOW
- PP = (HIGH + LOW + CLOSE) / 3
- S1 = (2 * PP) - HIGH
- S2 = PP - RANGE
- S3 = LOW - ( 2 * (HIGH - PP) )
In the next version I am going to include some settings.
- Formulation Selection (Woodie Pivot Points, Tom DeMark Pivot Points, Camarilla Pivot Points)
- Color selection for lines.
- Added input selection line names (if true, line names are visible )
- Added input selection alert (Push Message, Send Email or Sound Alert) alarm activated when price reach any pivot price (S1,R1,..)
- Added input line colors and styles