Description
Person's Pivots is a variation of the Pivot Points study. Only one support level and one resistance level is plotted. In the bullish market, they are S1 and R2. In the bearish market, they are S2 and R1. In neutral market, they are S1 and R1. The type of market is determined by comparing the pivot point with its three-day average.
This study uses the traditional way of calculating weekly and monthly pivot levels: they are calculated in the beginning of week or month and remain constant after that.
Input Parameters
| Parameter | Description |
|---|---|
market threshold
|
The maximum difference between pivot point and its average for which the market is considered neutral. |
time frame
|
The time frame used to calculate the pivot points. |
show only today
|
Determines whether to show pivot levels only for today or for previous days as well. |
apply persons levels filter
|
Determines whether to show only Person's selected levels or all of them. |
Plots
| Plot | Description |
|---|---|
R3
|
The third resistance level. |
R2
|
The second resistance level. |
R1
|
The first resistance level. |
RR
|
The Person's resistance level. |
PP
|
The pivot point. |
SS
|
The Person's support level. |
S1
|
The first support level. |
S2
|
The second support level. |
S3
|
The third support level. |
Example*
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.