Pivot Bands

Pivot Bands

The band is smooth like a straight moving average trading band, but it also has the ability to adjust for market volatility like a Bollinger band. The width of the trading band increases gradually as the market becomes more volatile. This smooth and controlled self adjustment is key.

To create the Pivot Point Channels, I use a 7-day exponential moving average of the Pivot Points as a base. An exponential Moving Average is a little more sensitive to recent data than a straight simple moving average, however the basic principle is the same.
Next, calculate the average difference between the first Pivot Low 5 and the first Pivot High for each of the last 7 days. To do this, you subtract the first Pivot Low value from the first Pivot High value for each of the last 7 days. You then add up the difference and divide by 7. This gives you the average value of the difference between the first high and the first low pivots.
The final step involves adding this average of the differences to the moving average of the pivots to get the resistance line. As well, you subtract the average of the differences from the moving average of the pivots to get the support line. This creates a channel for the first support and resistance.
(description from the author of the indicator: Joe Duffy).
at the request of the French thread  https://www.prorealcode.com/topic/pivots-points-channel/

Adaptation of a Tradingview code.

 

Share this

Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

New! PRC is also now on YouTube, subscribe to our channel for exclusive content and tutorials

avatar
Register or

Likes

avatar avatar avatar avatar
Related users ' posts
Vonasi The indicator code can easily be adapted for use as a filter in strategies as well. For exam...
AVT Tested today in manual DAX trading (transcripted to MT and changed look into aka oszillator)...
Vonasi I think that short time frame charts will be too noisy for this indicator. One blue bar real...
Vonasi I forgot to mention in the description that Sunday pivot lines are ignored and Monday's pivo...
AVT Like that, simple and clear!
Vonasi Thanks AVT. I like simple - some people would say that I do simple very well! Sometimes you ...
swapping Oups nicolas ! je pense que tu a oublié de mettre les variables "setting" accessible en exte...
Nicolas Je viens de vérifier, elles y sont pourtant?
swapping Mea culpa, j'ai fait un bête (copier/coller) et forcément cela ne pouvait pas y être puisqu'...
Marcel If you are interested in my way of trading, please follow me on Twitter @MvvTrading
Genotik Excellent, merci !
diegofe_2000 Excelente indicador, felicitaciones, muy bueno
Nicolas Merci de faire une demande spécifique sur le forum et j'essaierai d'y remédier.
redz voila nicolas c'est fait https://www.prorealcode.com/topic/demande-de-programmation-point-f...
Nicolas Merci, je m'en occupe dès que possible.
Trading_En_El_Ibex35 Para calcular el punto pivote y los niveles de soporte y resistencia para operar durante la ...
supertiti Hola mis disculpas, creia que tu eres Jose Antonio Madrigal ! gracias por las explicaci...
Trading_En_El_Ibex35 espero que las explicaciones te hayan sido de ayuda saludos
TempusFugit Masala, thanks for your contribution. I don´t like the offmarket spreads neither ;) I unders...
Uveus Tempus, me da un error al validar el codigo, sobre la variable N. Al crear el indicador me ...
TempusFugit Hi Uveus, I am guessing you inserted the code of the indicator into the system code, is ...
Paul Thanks for posting. I was currently searching how to improve day-trading based on support an...
Jessar Könntest du im Forum etwas öffnen und später darüber zu sprechen?
arahussein Hi All, I am new to trading and i find this indicator very logicail! Hence my (dumb?) quest...
Stefan Arens Hi Vicormork, i´am sorry - but it still doesn´t work. I can´t correct the error. Prorealtim...
eltonio8 Hi everyone, can someone explain these lines literaly : if MyBoll >= 50 THEN upBo...
redz bonjour, comment changer les paramettre de la BB en 20 , 2.2 ? hello, how to change BB sett...
atlante je me demande si prorealtime pourrait etre programee sur fonction lorsquún point cgange de c...
lizmerrill can you provide this code for tradestation, please. Thanks
Nicolas No sorry, please use this file instead into a prorealtime trading platform.
JohnScher Hello. I use your ThreeLiner in manual trading with as an indicator. He works very well. ...
Nicolas You can measure a distance with a simple substraction :)
JohnScher Hello, Nicolas. Thank you! But then I can't! I m sorry. I have the same problem with ...
diegofe_2000 cordial saludo NICOLAS , gracias por excelente indicador. ¿ es posible obtenerlo en MT4 ? ...
Nicolas Lo siento, pero no estoy trabajando para ayudar a la gente aquí de forma gratuita para promo...
diegofe_2000 Nicolas , gracias por tu atención. La pregunta era por curiosidad (yo no trabajo ni manejo ...
Frankiesc Thanks Nicolas for sharing this indicator, it's interesting
CavalierDeCesDames Bonjour Nicolas, Thanks for your use full job. I tried this indicator on a shorter timefram...
Nicolas You are welcome. I'm glad you like it.
albertocampagna Sei grande Nicolas :-)
SAcht Dear Nicolas, Great work, thank you very much!I would love to use the indicator in ProScree...
SAcht btw: The above-posted ProScreener is supposed to show stocks for which the center line has i...
Hans63 Good evening Nicolas, Can you add an option coloring the candlesticks? Thanks
Youness Charif Bonjour Nicolas, je n'arrive pas faire marcher l'indicateur, il m'indique en message d'e...
Nicolas Veuillez décommenter les lignes des variables (enlever les //), ou télécharger et importer d...
Francesco78 Thank you Nicolas,  I have copied your nice indicator, but it shows in the lower part of th...
Abz  hi , you need to add the indicator from the "price" menu in chart
Francesco Thank you Abz!
Wing Yes, investigate as much as you want. For more insight, you can view the linet1, linet2 etc....
CKW Hi Wing, Thanks for your sharing. I am still trying to breakdown & understand your code...
Wing Hello CKW. No, the parameter, 7 in this case, is used when calling the RSI indicator to ide...
Pere
1 year ago

Top