Expanded Floor Pivots

Hello Everyone,

The Expanded Floor Pivots is introduced in the book "Secrets of a Pivot Boss: Revealing Proven Methods for Profiting in the Market" by Franklin Ochoa. He added four new levels: S4, R4, BC and TC . There are many great ideas in the book, such using these levels, following trend, time price opportunity and much more. (Thanks to @tonyjab for pushing me to read this book)

The definition/formula of the levels defined in the book:

r1 = 2 * pivot - Low
r2 = pivot + (High - Low)
r3 = r1 + (High - Low)
r4 = r3 + (r2 - r1)

tc = ( pivot - bc ) + pivot
pivot = (High + Low + Close) / 3
bc = (High + Low) / 2

s1 = 2 * pivot - High
s2 = pivot - (High - Low)
s3 = s1 - (High - Low)
s4 = s3 - (s1 - s2)

The area between TC and BC is used as Pivot Channel, (blue area in the chart). you can see how it helps on identifying the trend.

By default the script decides Higher Time Frame but if you want you can set HTF as you wish.

You can choose line style as: Solid, Circles or Cross

and also you have option to show only last period or all historical levels.


릴리즈 노트: Changed HTF part.
릴리즈 노트: minor update.
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Sir , is it possible to add the L1 & L2 + H1 & H2 Levels . Can you please add this and share the chart .
sir u really great
Hey ladies and gents. I'm new to all this how do I get access to the above?
How do I get access to this?
Thanks for sharing the code, its awesome, can you pl share this pivot for monthly and weekly
LonesomeTheBlue back at it again! Well done sir.
+1 응답
May I know which time frame is it suitable to be used for? When I set to daily, it appear as a tiny horizontal dash line, with HTF set to auto.
@Kennyfoong, it's sutiable for all timeframes. if you use 1D chart then pivot lines created by using last week's highest and lowest values. for better visualization I added "Show Only Last Period", this show only last period. which pair you looking at?
Kennyfoong LonesomeTheBlue
@LonesomeTheBlue, Thanks, I am looking at the S&P 500. Can it be used for indices and stocks as well?
+1 응답
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