Calculates daily and weekly pivot width to assess next day's possible setup. Also has features to plot daily and weekly pivot levels without charts. It also plots 0.65 of 20 day average level of pivot width and 125% of 20 day average level of pivot width. If pivot width is less than 0.65 of 20 day average level of pivot width, the possibility of a trending day...
This is an indicator which shows the width of pivots created by prev day h l c. If the width is narrower, it implies possibility of trending markets. If the width is broader, it implies possibility of rangebound market. Narrower width is denoted if the pwidth is less than 0.25. Background color can be differentiated for narrower width pivot days. This indicator...