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| Added: July 18, 2008 |
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"Pivotal Trading" by John Ehlers in the September 2000 issue.
We all know about the significance of the open, high, low and closing prices, but did you know every bar also holds a set of other price levels that could prove themselves as equally important to your bottom line?
By John F. Ehlers
Code:
Type : Indicator, Name : Pivotal Trading
Vars: Pivot(0), S1(0), S2(0), R1(0), R2(0);
Pivot = (H[1] + L[1] + C[1]) / 3;
R1 = 2*Pivot - L[1];
S1 = 2*Pivot - H[1];
R2 = Pivot + (R1 - S1);
S2 = Pivot - (R1 - S1);
Plot1(R1, "R1");
Plot2(S1, "S1");
Author: John Ehlers
Source: http://www.activetradermag.com
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