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Hi Shiva
> please help me to construct the following weekly pivots in daily charts
> (last weeks(high- low)) *7.3% + last weeks close = pivot
> last weeks close - (last weeks(high - low))*7.3% = pivot 2
> i.e weekly meants monday to friday.
This should do it. Make sure you have Jose Silva's "Calendar Week counter"
installed first. http://www.metastocktools.com/MetaStock/WeekCount.txt
This formula can be checked by plotting it directly on weekly periodicity charts.
Simply change the definitions of P1 and P2 if you want to experiment with other
levels or definitions.
In the upcoming June issue of MSTT I explain a simpler timing mechanism for
longer timeframe indicators on EOD data.
{Weekly Pivots Special}
{© 2005 Roy Larsen, www.metastocktips.co.nz}
{for use on daily charts with
Jose Silva's "Calendar Week counter"}
F:=Input("End of Week, 5=Friday 6=Saturday 7=Sunday",5,7,5);
Q:=Input("Display Mode, 0=Static 1=Dynamic 2=Test",0,2,0);
{0=Display, update on Friday when possible}
{1=Display, update on each new bar}
{2=Backtest, update on first bar of new week}
G:=LastValue(Highest(Sum(DayOfWeek()=F,5))=5);
I:=Fml("Calendar Week counter");
I:={Abs}(I-ValueWhen(2-G,1,I)); M:=G OR I>0;
F:=G OR (DayOfWeek()=F AND I=0);
A:=LastValue(Cum(1)-1)=Cum(1);
B:=ValueWhen(2,1,A);
J:=If(F,1,If(Alert(F,2)=0 AND M,2,0));
J:=If(A+LastValue(J)>2 OR B+(Q=1)=2,1,J);
J:=If(G,1,If(Q=2 OR Cum(J)<=1,M*2,J));
Hw:=HighestSince(1,M,H);
Hw:=ValueWhen(1,J,If(J=1,Hw,ValueWhen(2-G,1,Hw)));
Lw:=LowestSince(1,M,L);
Lw:=ValueWhen(1,J,If(J=1,Lw,ValueWhen(2-G,1,Lw)));
K:=ValueWhen(1,J,If(J=1,C,ValueWhen(2-G,1,C)));
Hw:=ValueWhen(1,Hw>0,Hw);
Lw:=ValueWhen(1,Lw>0,Lw);
P1:=K+(Hw-Lw)*1.073;
P2:=K-(Hw-Lw)*1.073;
P1; P2;
Kind regards
Roy Larsen
www.metastocktips.co.nz
Free formulas and MS links
----- Original Message -----
From: "SHIVA SAKTHI" <asivasakthi@xxxxxxxxx>
To: <equismetastock@xxxxxxxxxxxxxxx>
Sent: Saturday, June 04, 2005 4:57 AM
Subject: [EquisMetaStock Group] how to draw weekly pivots in daily charts
> please help me to construct the following weekly pivots in daily charts
>
> (last weeks(high- low)) *7.3% + last weeks close = pivot 1
>
> last weeks close - (last weeks(high - low))*7.3% = pivot 2
>
> i.e weekly meants monday to friday.
>
> Thanks
>
>
>
>
>
>
>
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