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Hi John
> Does any one have a Pivot Point indicator that can
place the daily support
and resistance lines any intraday
chart
Try this indicator. It doesn't include S3 and
R3, but you should be able to construct them to suit. They didn't look quite
right when I used your definitions so I left them out. See what you
think.
{Daily Pivot Points JR}
{©
2005 Roy Larsen, www.metastocktips.co.nz}
{for use on intraday charts}
Q:=Input("Daily PP Mode, 0=Static
1=Dynamic 2=Test",0,2,0);
{0=Display, update at last bar of
day}
{1=Display, update on each new bar}
{2=Backtest, update
on first bar of new
day}
G:=LastValue(Highest(Sum(DayOfWeek()<>
ValueWhen(2,1,DayOfWeek()),5))=5);
I:=DayOfMonth()<>ValueWhen(2,1,DayOfMonth());
M:=G
OR I;
F:=G OR
PeakBars(1,Zig(Hour(),1,$),1)=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));
Hd:=HighestSince(1,M,H);
Hd:=ValueWhen(1,J,If(J=1,Hd,ValueWhen(2-G,1,Hd)));
Ld:=LowestSince(1,M,L);
Ld:=ValueWhen(1,J,If(J=1,Ld,ValueWhen(2-G,1,Ld)));
K:=ValueWhen(1,J,If(J=1,C,ValueWhen(2-G,1,C)));
Hd:=ValueWhen(1,Hd>0,Hd);
Ld:=ValueWhen(1,Ld>0,Ld);
K:=ValueWhen(1,K>0,K);
PP:=(Hd+Ld+K)/3;
{pivot point}
R1:=PP*2-Ld; S1:=PP*2-Hd;
R2:=PP+Hd-Ld; S2:=PP-R1+S1;
PP;
R1; R2; S1; S2;
Kind regards
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