Exploration for Pivot Point

Hello forum, does anyone have an exploration for a pivot point?

eagle5

Thought I would just clarify, that's for Metastock

which pivot point u r referring to. Floor, Camrilla, woodies, etc.?

Hello Mangup, I was hoping for a classic pivot Low:

R4 = R3 + RANGE (same as: PP + RANGE * 3)
R3 = R2 + RANGE (same as: PP + RANGE * 2)
R2 = PP + RANGE
R1 = (2 * PP) - LOW
PP = (HIGH + LOW + CLOSE) / 3
S1 = (2 * PP) - HIGH
S2 = PP - RANGE
S3 = S2 - RANGE (same as: PP - RANGE * 2)
S4 = S3 - RANGE (same as: PP - RANGE * 3)

Where R1 through R4 are Resistance levels 1 to 4, PP is the Pivot Point, S1 through S4 are support levels 1 to 4, RANGE is the High minus the Low for the given time frame (usually daily).

If that's too complicated for an Exploration, this is a simpler version which does incorporate a trend. I'm looking for a pivot Low.

- Trend reversal, so there must be a trend in the last x days
- 1st candle is the Lowest Low
- 2nd candle forms the pivot if it closes above the High of the previous LL

If both of these are easy to put together, can I be greedy and have both explorations! I would be interested to compare results.

Many thanks.
eagle5

Hi Mangup, if you have a Floor pivot exploration already set up, I can have a go at modifying that? If possible, please can you post what you have?

Many thanks,
eagle5

Below formula will give you the close above yesterday's pivot level. Put this in filter column of exploration.

MPivot:=(Ref(H,-1)+Ref(L,-1)+Ref(C,-1))/3;
MCROSS:=Cross(C,MPivot);
MCROSS=1;

Similarly you can build for other res/sup level.

Pl confirm is this serving ur purpose.

Mangup, thank you for that - some interesting results in my scan.

It seems to bring up lots of stocks with a Close above previous Close (as opposed to the High) - is there a way of eliminating those which don't close above the High?

Thanks again, Mangup!
eagle5

eagle5,
Replace the line with this one.
MCROSS:=Cross(C,MPivot) AND C>Ref(H,-1);

Now check is it serving ur purpose?

Mangup, thank you! That fixed the close problem perfectly I now just need to refine it to ensure a small run down into the pivot. I'll try to have a go at it - have some other explorations which might show me how. Thanks again for your help Mangup.

eagle5