Custom tool for establishing Price Pivots based on a Arbitrary price set by the user. Plug in any price in the input such as a daily open, weekly open, All Time High/Low, Big Round Number, I like using Fix Rates which can be difficult to establish but hidden support and resistance levels are established by central banks based on their respective trading bands. Great tool to use on Forex pairs under going heavy handed Central Bank intervention....ala USDRUB
//Arbitrary Price Pivots;Coondawg71//
//set your own custom pivot levels by plugging in a significant price point: I like to use Fix Rates, or daily/weekly opening or daily Vwap//
//This tool works great for setting price targets using simple percentage targets//
//default settings are typical weekly targets I prefer//
study("Arbitrary Price Pivots",overlay=true)
p = input(000.0000,title="Pivot")
p0 = input(1.0025, title="p0")
p1 = input(1.0050, title="p1")
p2 = input(1.0100, title="p2")
p3 = input(1.0123, title="p3")
p4 = input(1.0161, title="p4")
p5 = input(1.0200, title="p5")
p6 = input(1.0500, title="p6")
plot(p,"Pivot",color=green)
plot(p*p0,"Pivot",color=gray)
plot(p/p0,"Pivot",color=gray)
plot(p*p1,"Pivot",color=aqua)
plot(p/p1,"Pivot",color=aqua)
plot(p*p2,"Pivot",color=white)
plot(p/p2,"Pivot",color=white)
plot(p*p3,"Pivot",color=olive)
plot(p/p3,"Pivot",color=olive)
plot(p*p4,"Pivot",color=yellow)
plot(p/p4,"Pivot",color=yellow)
plot(p*p5,"Pivot",color=teal)
plot(p/p5,"Pivot",color=teal)
plot(p*p6,"Pivot",color=red)
plot(p/p6,"Pivot",color=red)//////