Hi, we're new here. We're trying to develop a Daily/Weekly/Monthly Pivot Point Indicator so that we can add them as signal filters for our Building Blocks. We seem to be having issues with the Indicator Builder. Has anybody accomplished this? Or can you point us in the right direction? Thank you!
Rename
You can use the ScaleInd (a Transformer indicator) to convert an indicator (like the daily pivots) to the higher bar scale that you want.
If you flesh out the specs you’re trying to achieve I can provide some example code for your indicator.
Thank you both for the prompt responses.
We're looking to make a Floor Pivot Point indicator. Here are the formulas:
Pivot (P):
P = (High + Low + Close) / 3
Support & Resistance Levels:
R1 = (P×2) - Low
S1 = (P×2) - High
R2 = P + (High – Low)
S2 = P – (High – Low)
We’re also aiming to have this as an indicator for each timeframe:
Daily
Weekly
Monthly
Let us know if you need any additional info.
We're looking to make a Floor Pivot Point indicator. Here are the formulas:
Pivot (P):
P = (High + Low + Close) / 3
Support & Resistance Levels:
R1 = (P×2) - Low
S1 = (P×2) - High
R2 = P + (High – Low)
S2 = P – (High – Low)
We’re also aiming to have this as an indicator for each timeframe:
Daily
Weekly
Monthly
Let us know if you need any additional info.
It already exists as a built-in indicator.
Oh ok — we got it now. We just combine the Pivots with the ScaleInd to convert it to say weekly on a daily chart. Thank you!
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