Here is an indicator that shows the pivots according to the formula used by J.F Carter in his book “Dominate Trading”.
The color of the pivots can be configured to your own taste.
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// Pivots JF Carter // J.J.P. // Diciembre 2018. DefParam DrawOnLastBarOnly = true if day <> day[1] then startbar = barindex endif Pv=(high+low + close)/3 Rs1=2*pv-low Rs2=pv+(high-low) Rs3=Rs1 + (high-low) Ss1=2*pv-high Ss2=pv-(high-low) Ss3=Ss1-(high-low) //r=255 //g=255 //b=255 drawtext(" Pv-#pv#",startbar,pv,Dialog,Standard,10) coloured(r,g,b) drawtext(" R1-#Rs1#",startbar,rs1,Dialog,Standard,10) coloured(r,g,b) drawtext(" R2-#Rs2#",startbar,rs2,Dialog,Standard,10) coloured(r,g,b) drawtext(" R3-#Rs3#",startbar,rs3,Dialog,Standard,10) coloured(r,g,b) drawtext(" S1-#ss1#",startbar,ss1,Dialog,Standard,10) coloured(r,g,b) drawtext(" S2-#ss2#",startbar,ss2,Dialog,Standard,10) coloured(r,g,b) drawtext(" S3-#Ss3#",startbar,Ss3,Dialog,Standard,10) coloured(r,g,b) return |
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