JOINT PURCHASES CONFIGURABLE PIVOT PROGRAM

CONFIGURABLE PIVOT PROGRAM

Program draws traders pivots levels on a chart based on the high, low, close and or open of a user defined session. Sessions are defined by user inputs which specify the start and end times and the type of traders’ pivots to be calculated. This gives you total control over which period you analyze.



This chart shows is a 30 minute GBP/USD (pound/dollar) chart. The bars highlighted in Cyan are within the period being analyzed (i.e. 0300 – 1100). The upper horizontal red line shows the high of the period, the horizontal green line shows the low of the period and the horizontal cyan line shows the close of the period. These lines are plotted by the indicator and may be turned off using one of the inputs. The program offers three ways of calculating traders’ pivots: Classic, Woodie, and Camarillo. The pivots shown on this chart are calculated using the ‘classic’ formula (see below), based on the high, low and close of the period specified. (The labels: “Red line is high of period shown in cyan” and “green line is low of period shown in cyan” were added in a drawing program)



The program was developed in TradeStation 8.7 (and so is compatible with versions 8.7 and above, including 9.1) and works with intraday and tick charts.