Re: Pivot points

["Barry Small" <unitel@xxxxxxxxxxxxxx>]

Pivots ela, attached.  Works perfectly.
-----Original Message-----
From: Bob Young <polaris3@xxxxxxxxxxxxxxx>
To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
Date: Monday, March 09, 1998 4:04 PM
Subject: Re: Pivot points


> As some of you will have seen there is an article on Pivot points in the
> Omega research magazine which whilst not telling me anything new it did
> get me thinking about plotting the levels on my intraday chart.  Can't
> quite see the point of putting them on a daily chart as they have it in
> the article so I thought I would code them to be shown on a five min
> chart.
>
> The following is what I came up with....
>
>
> Firstly :
>
> {Function to calculate the Pivot point which I just changed the TS Typical
> Price Function}
>
> TypicalPriceID = (HighD(1)+LowD(1)+CloseD(1))/3;

What is this (HighD etc.)?  I have no such functions.
I wrote some code to plot the pivot points on an intraday chart some time
ago, and have copied
it below.  It works reliably.  It has a feature which ensures that only
pivots within a point range
defined by the 'zoom' input from the current price are plotted,  which
avoids compression of the
actual prices into a small area of the chart.

It is important to remember to set the Scaling to Price, rather than Screen,
or the lines will be
plotted in the wrong place on the screen, even though the values have been
calculated correctly
by the code.

Bob Young

----------------------------------------------------------------------------
--------
{INDICATOR: Pivots}
input: zoom(2.5);
var:
pp(0),r1(0),r2(0),s1(0),s2(0),hy(0),ly(0),cy(0),ih(0),il(0),t1(0),t2(0),t3(0
),t4(0),t5(0);

if date <> date[1] then begin
hy = ih;
ly = il;
ih = high;
il = low;
cy = close[1];
pp = (hy+ ly + cy) / 3;
r1 = 2*pp - ly;
s1 = 2*pp - hy;
r2 = pp - s1 + r1;
s2 = pp - r1 + s1;
print(hy,ly,cy,pp,r1,r2,s1,s2);
end;

if high > ih then ih = high;
if low < il then il = low;


if cy<>0 and hy<>0 and ly<>0 then begin
t1 = absvalue(close - pp);
if t1 < zoom then plot1(pp,"PP");

if close > pp then begin
t2 = absvalue(close - r1);
t3 = absvalue(close - r2);
if t2 < zoom then plot2(r1,"RS1");
if t3 < zoom then plot3(r2,"RS2");
end;

if close < pp then begin
t4 = absvalue(close - s1);
t5 = absvalue(close - s2);
if t4 < zoom then plot2(s1,"RS1");
if t5 < zoom then plot3(s2,"RS2");
end;
end;


Attachment Converted: "c:\eudora\attach\pivots.ela"