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The
formula you have written is for the "typical price" which is a MetaStock
parameter. It is an average of the bar with a bias to the close. It is not a
formula for a PivotPoint.
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<FONT face=Arial color=#008080
size=4>JM>
Yes
it is the formula for a pivot point. It is the classic formula for a pivot
point according to Lucas and Le Beau.
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<FONT face=Arial color=#008080
size=4>From this the pivot high is calculated as either 2 times the
pivot point minus the low or pivot point plus the range. The pivot low is
either 2 times the pivot point minus the high or pivot point minus the range.
Either way it's a good way to plot daily support/resistance
lines.
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<FONT face=Arial color=#008080
size=4>Cheers
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John
Manasco
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Hello List
I want to see a line of the Pivot Point in my
chart
I have in Indicator Builder :
PivotPoint:=(H+L+C)/3;
but i donot get the line ? How to do that
?
Thanks
Theo
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