Fibonacci pivot points
March 9, 2016, 4:28 PM
Indicators
23 Comments
The Fibonacci pivot points indicator is made of 38.2% and 61.8% extension of the main pivot line, for the support (S1,S2) and resistance (R1, R2) ones. This indicator show only the pivot points on the current day from the previous OHLC day values.
Coded by member request on forum.
if Today[0] = Date[0] then
dh = DHigh(1)
dl = DLow(1)
P = (dh + dl + DClose(1))/3
S1 = P - .382 * (dh-dl)
S2 = P - .618 * (dh-dl)
S3 = P - 1 * (dh-dl)
R1 = P + .382 * (dh-dl)
RR2 = P + .618 * (dh-dl)
R3 = P + 1 * (dh-dl)
endif
RETURN P as "pivot", S1 as "S1", S2 as "S2", S3 as "S3", R1 as "R1", RR2 as "R2", R3 as "R3"
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Filename:
Pivot-points-Fibonacci-Nicolas.itf
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