OPEN-SOURCE SCRIPT
KJS-- Gost Pivot MA
KJS Ghost Pivot Moving Average
This indicator calculates a "Ghost Pivot" by estimating where the monthly pivot level would be if the current candle's close represented the end of the month. The calculation uses:
• The current month's high and low from regular trading hours (RTH).
• The current candle's close, which includes both premarket and after-hours data.
It also smooths the ghost pivot using a customizable simple moving average (SMA).
Features:
• Plots the current month's high (blue) and low (yellow) based on RTH data.
• Calculates and plots a dynamic pivot (purple line) as the average of the monthly high, low, and current close (HLC3).
• Includes a customizable SMA length for smoother pivot tracking (default: 3).
This indicator helps traders anticipate potential monthly pivot levels in real-time while visualizing key support and resistance areas.
This indicator calculates a "Ghost Pivot" by estimating where the monthly pivot level would be if the current candle's close represented the end of the month. The calculation uses:
• The current month's high and low from regular trading hours (RTH).
• The current candle's close, which includes both premarket and after-hours data.
It also smooths the ghost pivot using a customizable simple moving average (SMA).
Features:
• Plots the current month's high (blue) and low (yellow) based on RTH data.
• Calculates and plots a dynamic pivot (purple line) as the average of the monthly high, low, and current close (HLC3).
• Includes a customizable SMA length for smoother pivot tracking (default: 3).
This indicator helps traders anticipate potential monthly pivot levels in real-time while visualizing key support and resistance areas.
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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