OPEN-SOURCE SCRIPT
Pivot Powerup (Indy)
Pivot powerup(indy) Indicator for TradingView
This script calculates and plots daily Pivot Points (P, R1, R2, R3, S1, S2, S3) on the price chart. Pivot Points are key levels used in technical analysis to identify potential support and resistance areas.
Key Features
Calculates daily Pivot Points using the standard formula.
Plots Pivot Point (P), Resistance levels (R1, R2, R3), and Support levels (S1, S2, S3).
Overlays the levels on the price chart for easy visualization.
How to Use
Copy and paste the script into the Pine Script editor on TradingView.
Add the indicator to your chart.
The Pivot Points will be automatically calculated and plotted based on the previous day's high, low, and close prices.
Cautions
This indicator is based on the previous day's data. It may not be accurate in highly volatile markets.
Always use Pivot Points in conjunction with other technical analysis tools for better accuracy.
Customization
To customize the indicator, modify the formula in the calculate_pivot_points function.
You can also change the colors or line widths of the plotted levels by editing the plot() functions.
Credits
Created by Zhongli2566. Feel free to use and modify this script.
This script calculates and plots daily Pivot Points (P, R1, R2, R3, S1, S2, S3) on the price chart. Pivot Points are key levels used in technical analysis to identify potential support and resistance areas.
Key Features
Calculates daily Pivot Points using the standard formula.
Plots Pivot Point (P), Resistance levels (R1, R2, R3), and Support levels (S1, S2, S3).
Overlays the levels on the price chart for easy visualization.
How to Use
Copy and paste the script into the Pine Script editor on TradingView.
Add the indicator to your chart.
The Pivot Points will be automatically calculated and plotted based on the previous day's high, low, and close prices.
Cautions
This indicator is based on the previous day's data. It may not be accurate in highly volatile markets.
Always use Pivot Points in conjunction with other technical analysis tools for better accuracy.
Customization
To customize the indicator, modify the formula in the calculate_pivot_points function.
You can also change the colors or line widths of the plotted levels by editing the plot() functions.
Credits
Created by Zhongli2566. Feel free to use and modify this script.
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.
Want to use this script on a chart?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.