OPEN-SOURCE SCRIPT
Pivot Points (Daily, Weekly, Monthly)
Pivot point: P = (High + Low)/2
First support: S1 = Low
Second support, S2 = Low - 2 * (High - Low)
First resistance: R1 = High
Second resistance, R2 = High + 2 * (High - Low)
White Line: Pivot Point
Gleen Line(Thin Line): Support 1
Green Line(Thick Line): Support 2
Red Line(Thin Line): Resistance 1
Red Line (Thick Line): Resistance 2
You can adjust it to daily, weekly or monthly indicators, daily for intraday trading (1minute, 1hour etc.), weekly and monthly for day/swing trading, monthly for weekly trades. I plot the graph with steplines since I think they can show the differences of pivots from time to time more clearly, you are free to change to other plot styles like circles or regular lines if you want to. Please like this script, and let me know any questions, thanks.
First support: S1 = Low
Second support, S2 = Low - 2 * (High - Low)
First resistance: R1 = High
Second resistance, R2 = High + 2 * (High - Low)
White Line: Pivot Point
Gleen Line(Thin Line): Support 1
Green Line(Thick Line): Support 2
Red Line(Thin Line): Resistance 1
Red Line (Thick Line): Resistance 2
You can adjust it to daily, weekly or monthly indicators, daily for intraday trading (1minute, 1hour etc.), weekly and monthly for day/swing trading, monthly for weekly trades. I plot the graph with steplines since I think they can show the differences of pivots from time to time more clearly, you are free to change to other plot styles like circles or regular lines if you want to. Please like this script, and let me know any questions, thanks.
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