OPEN-SOURCE SCRIPT
Unseen Pivot Points
This script takes the standard TV pivot points indicator and extend it to new Pivot levels never unrevealed before.
In short: I applied the formula of traditional Pivots to calculate R6 to R10 and S6 to S10 Pivots into a new Indicator.
As you probably know, there are not more than five levels of Support or Resistance in each direction when it comes to Pivots. Why is it that Chartists don't use more than those five Pivot levels? As a historical search have yield no real answer I could only speculate that simply no one ever bothered to calculate them since markets did not put that to the question with their volatility, price behavior and returns.
But I also speculated that plotting more pivots, especially to the upside, can serve as a road map for exponential assets like the ones we got used to in the last years, i.e. Crypto markets.
And indeed have more pivots turns out to be surprisingly useful when it comes to mooning assets.
I have applyed the same calculation from the R3/S3 on and rolled it into the creation of the R6/S6 like this:
R6 = PP * 5 + (HIGHprev - 5 * LOWprev) S5 = PP * 5 - (5 * HIGHprev - LOWprev)
And so forth until R10/S10. Not a rocket science!
Enjoy!
In short: I applied the formula of traditional Pivots to calculate R6 to R10 and S6 to S10 Pivots into a new Indicator.
As you probably know, there are not more than five levels of Support or Resistance in each direction when it comes to Pivots. Why is it that Chartists don't use more than those five Pivot levels? As a historical search have yield no real answer I could only speculate that simply no one ever bothered to calculate them since markets did not put that to the question with their volatility, price behavior and returns.
But I also speculated that plotting more pivots, especially to the upside, can serve as a road map for exponential assets like the ones we got used to in the last years, i.e. Crypto markets.
And indeed have more pivots turns out to be surprisingly useful when it comes to mooning assets.
I have applyed the same calculation from the R3/S3 on and rolled it into the creation of the R6/S6 like this:
R6 = PP * 5 + (HIGHprev - 5 * LOWprev) S5 = PP * 5 - (5 * HIGHprev - LOWprev)
And so forth until R10/S10. Not a rocket science!
Enjoy!
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。