Standard Pivot Points are calculated from the previous day’s (week/month/year) close/low/high values. But what is the day close for cryptocurrencies trading 24/7 on exchange? Does it make sense to use a specific time price as a close if it continues trading after that?
So I solved that issue with Rolling Pivot Points, where I calculate pivot points not at the end of the period but for every bar on a rolling basis. Every time I recalculate pivot points, I look at a window of period length in bars and base my calculations on these bars. This way, you get smooth pivot points changing with every bar, and it should better represent support and resistance for the price.
In this indicator, I implement three types of pivot points.
Camarilla
Fibonacci
Traditional
In terms of period, you can select any one you want. If you’ll keep Auto Indicator well, compute period automatically. For two days, for example, use ‘Day’ in Period and 2 in Period Mult parameters.
You can also change the type of MA used to smooth Pivot Points.
Disclaimer Please remember that past performance may not be indicative of future results. Due to various factors, including changing market conditions, the strategy may perform less well than in historical backtesting. This post and the script don’t provide any financial advice.
Hisse senetleri için 1-2 günlük tradeler de hangi ayarlar iyi olur ? Yardımcı olabilir misiniz
Nkcs22
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Can users help? Which settings did you get the most from? I use it too. Should the settings be automatic?
adobefakesalem
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can i use it?
QuantNomad
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@adobefakesalem, in "Author's instructions " you can find a link to get access
Nkcs22
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@QuantNomad, hangi ayarlarda trade daha verimli olur ? Kullanımla ilgili video varmı ?
DannyBaker
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Could you possibly add me please? great work!
TathaastuVats
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I appreciate your work, it has helped me in learning trading. I'm a beginner at pine script. I want to build a screener for stocks that can do highlight the cells against stock in table [Green (for EMA 3% above) < EMA 200 < Red (for EMA 3% below)] % being customizable for stocks in table. I saw your multi time frame and RSI screener for stocks. But while I was trying to code it for EMA/SMA didn't had any success. Wish someday you built something like that. Thanks
Nkcs22
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@vatsanuj, ayarları nasıl kullanıyorsunuz ? Hisse senetlerinde günlük işlemler için trade için