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Hi,
Please see the attachment which has the alf
Regards
M Ramu
sachinsac31 <no_reply@xxxxxxxxxxxxxxx> wrote:
Hi everyone,
I'm trying to convert this formula into an indicator can some please
help thanks.
Woodie Pivot Points
The formula used in the calculation of Woodie Pivot Points are:
R4 = R3 + RANGE
R3 = H + 2 * (PP - L) (same as: R1 + RANGE)
R2 = PP + RANGE
R1 = (2 * PP) - LOW
PP = (HIGH + LOW + CLOSE) / 3
S1 = (2 * PP) - HIGH
S2 = PP - RANGE
S3 = L - 2 * (H - PP) (same as: S1 - RANGE)
S4 = S3 - RANGE
Where R1 through R4 are Resistance levels 1 to 4, PP is the Pivot
Point, S1 through S4 are support levels 1 to 4, RANGE is the High
minus the Low for the given time frame (usually daily).
Thank you very much
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