Can anyone share or code this indicator for me?...****** Pivot Points
****** Pivot Points were developed by Tom ****** and are entirely different compared to other pivot points. For ****** pivot points, the main pivot point is not significant. Only the R1 and S1 pivot levels are significant. However, the calculation for R1 and S1 differs depending on whether the previous period's close was higher, lower or equal to the previous period's open. If the close was higher, then the high is given more weight; if the close was lower, then the low is given more weight; and if the close is the same as the open, then the close is given more weight. For each of these conditions, the X is calculated and R1 and S1 are determined by using the formula:
X / 2 - previous low and X / 2 + previous high
for R1 and S1 respectively.
If the previous period's close is higher than the open that is the previous period closed up on the open then X is calculated using the formula:
( 2 x previous high ) + previous low + previous close
If the previous period's close is lower than the open that is the previous period closed down on the open then X is calculated using the formula:
previous high + ( 2 x previous low ) + previous close
Finally, if the previous period's close is at the same level as it's open then X is calculated using the formula:
previous high + previous low + ( 2 x previous close ) or here-
****** uses a magic number X to calculate the upper resistance level and the lower support.
He calculates X as follows:
If Close < Open then X = (High + (Low * 2) + Close)
If Close > Open then X = ((High * 2) + Low + Close)
If Close = Open then X = (High + Low + (Close * 2))
Using X as reference point, he calculates the resistance and support as follows:
Upper Resistance level R1 = X / 2 – Low
Pivot Point = X / 4
Lower support level S1 = X / 2 – High
****** Pivot Points were developed by Tom ****** and are entirely different compared to other pivot points. For ****** pivot points, the main pivot point is not significant. Only the R1 and S1 pivot levels are significant. However, the calculation for R1 and S1 differs depending on whether the previous period's close was higher, lower or equal to the previous period's open. If the close was higher, then the high is given more weight; if the close was lower, then the low is given more weight; and if the close is the same as the open, then the close is given more weight. For each of these conditions, the X is calculated and R1 and S1 are determined by using the formula:
X / 2 - previous low and X / 2 + previous high
for R1 and S1 respectively.
If the previous period's close is higher than the open that is the previous period closed up on the open then X is calculated using the formula:
( 2 x previous high ) + previous low + previous close
If the previous period's close is lower than the open that is the previous period closed down on the open then X is calculated using the formula:
previous high + ( 2 x previous low ) + previous close
Finally, if the previous period's close is at the same level as it's open then X is calculated using the formula:
previous high + previous low + ( 2 x previous close ) or here-
****** uses a magic number X to calculate the upper resistance level and the lower support.
He calculates X as follows:
If Close < Open then X = (High + (Low * 2) + Close)
If Close > Open then X = ((High * 2) + Low + Close)
If Close = Open then X = (High + Low + (Close * 2))
Using X as reference point, he calculates the resistance and support as follows:
Upper Resistance level R1 = X / 2 – Low
Pivot Point = X / 4
Lower support level S1 = X / 2 – High
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