Pivots JF. Carter.

Category: Indicators By: JJ Tec Created: December 18, 2018, 2:59 PM
December 18, 2018, 2:59 PM
Indicators
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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.

 

// 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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Filename: JJP-Pivots-Carter.itf
Downloads: 158
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I usually let my code do the talking, which explains why my bio is as empty as a newly created file. Bio to be initialized...
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