Pivot Range Pivot Boss
My first attempt to code something. It's Mark Fischer concept of Pivot Range from his book Logical Trader.
The strategy for using it is actually from Frank Ochoa's book Secrets of a Pivot Boss. Pivot Range is the "meat of the matket" and "the heart beat of the market" according to him.
Besides using the actual pivots the strategy is based on the relationships between 2 day pivot ranges.
Higher Value - Bulish
Overlapping Higher - Moderate Bulish
Lower Value- Bearish
Overlapping Lower - Moderate Bearish
Unchanged - Sideways/Breakout
Outside - Sideways
Inside - Breakout
The strategy for using it is actually from Frank Ochoa's book Secrets of a Pivot Boss. Pivot Range is the "meat of the matket" and "the heart beat of the market" according to him.
Besides using the actual pivots the strategy is based on the relationships between 2 day pivot ranges.
Higher Value - Bulish
Overlapping Higher - Moderate Bulish
Lower Value- Bearish
Overlapping Lower - Moderate Bearish
Unchanged - Sideways/Breakout
Outside - Sideways
Inside - Breakout
//Created by CristianD study(title="Pivot Range", shorttitle="CD_PivotR", overlay=true) sd = input(true, title="Show Daily Pivots?") //Pivot Range Calculations - Mark Fisher pivot = (high + low + close ) / 3.0 bc = (high + low ) / 2.0 tc = (pivot - bc) + pivot //Daily Pivot Range dtime_pivot = security(tickerid, 'D', pivot[1]) dtime_bc = security(tickerid, 'D', bc[1]) dtime_tc = security(tickerid, 'D', tc[1]) offs_daily = 0 plot(sd and dtime_pivot ? dtime_pivot : na, title="Daily Pivot",style=circles, color=fuchsia,linewidth=3) plot(sd and dtime_bc ? dtime_bc : na, title="Daily BC",style=circles, color=blue,linewidth=3) plot(sd and dtime_tc ? dtime_tc : na, title="Daily TC",style=circles, color=blue,linewidth=3)