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The name of the user function is PivotPoint. This user function will calculate the pivot point values. It will also allow the user to easily specify the method that will be used to calculate the pivot points. The "method" input is used to determine how the pivot points will be calculated (1= traditional; 2 = variation 1; 3 = variation 2). The EasyLanguage for the user function is thus: Type: Function, Name: PivotPoint Input: Method(NumericSimple); If Method <= 1 Then PivotPoint = (High[1] + Low[1] + Close[1]) / 3; If Method = 2 Then PivotPoint = (High[1] + Low[1] + Close[1] + Open) / 4; If Method >= 3 Then PivotPoint = (High[1] + Low[1] + Open) / 3; The first EasyLanguage indicator, Pivot Point Levels, plots the related support and resistance levels. The level values are displayed as ticks on the chart. The "method" input determines how the pivot point value will be calculated. The two support levels are displayed in red and magenta. The two resistance levels are displayed in blue and cyan. The complete formatting for the indicator is displayed following the EasyLanguage below. Type: Indicator, Name: Pivot Point Levels Input: Method(1); Variables: Pivot(0), FirstSupp(0), SecondSupp(0), FirstRes(0), SecondRes(0); Pivot = PivotPoint(Method); FirstSupp = (2 * Pivot) - High; FirstRes = (2 * Pivot) - Low; SecondSupp = Pivot - Range; SecondRes = Pivot + Range; Plot1(FirstSupp, "Supp1"); Plot2(FirstRes, "Res1"); Plot3(SecondSupp, "Supp2"); Plot4(SecondRes, "Res2"); Chart Style: PlotName Style Weight Supp1 Right Tic medium Res1 Right Tic medium Supp2 Right Tic medium Res2 Right Tic medium Scaling: Same as symbol This EasyLanguage code for the pivot point function and indicators is also available from Omega Research's Website. The name of the posted file is "PivPoint.ELS." -- Gaston Sanchez, Omega Research Inc. 800 422-8587, 305 270-1095 http://www.omegaresearch.com Code:
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| However we try to maintain hiqhest possible level of service - most formulas, oscillators, indicators and systems are submitted by anonymous users. Therefore S4T™ does not take any responsibility for it's quality. If you use any of this information, use it at your own risk. You are responsible for your own trading decisions. Be sure to verify that any information you see on these pages is correct, and is applicable to your particular trade. In no case will S4T™ be responsible for your trading gains or losses. |
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