OPEN-SOURCE SCRIPT
Rounded Weekly Pivot (by ChartArt)
Trade with the trend. This is an overlay indicator which shows the weekly pivot (rounded) either as line or circle drawing, select-able by the user. The width of the pivot line (or circle) overlay is also adjustable.
In addition the bars can be colored by the trend, depending if the close price is above or below both the weekly and monthly pivots. If the close price is neither above or below both the weekly and monthly pivot prices the trend color is neutral blue.
The weekly pivot indicator with the optional setting that the pivot price is drawn as circles instead of a line:
And here with the pivot drawing disabled, showing only the pivot bar trend color
In addition the bars can be colored by the trend, depending if the close price is above or below both the weekly and monthly pivots. If the close price is neither above or below both the weekly and monthly pivot prices the trend color is neutral blue.
The weekly pivot indicator with the optional setting that the pivot price is drawn as circles instead of a line:
And here with the pivot drawing disabled, showing only the pivot bar trend color
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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