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(EFS) Pivot Levels PRO

16. May 2011

eSignal Study: This study offers all of the features as the free version and more!  Some of the PRO-only features include seeing "tomorrow's pivots" (calculated using the current day's HLC), weekly pivots, monthly pivots, fibonacci retracements between the pivot levels, and more!

Pivot levels act as powerful levels of support and resistance. These levels are where market price will potentially rotate back to where market price came from or will continue and make a significant move away from the pivot level. There are multiple ways of calculating these pivot levels: Classic, Floor, Woodie, DeMark, and Camarilla. This study supports all five pivot level types!
 
The "Floor" pivot type is most common for forex markets, but works very well on commodities as well. "Woodie" is similar to "Floor", but more weight is given to the close. "DeMark" levels give a prediction for the high and low for the given period.

The script has the option to display "tomorrow's pivots", which is calculated using the current day's HLC, as if the market closed that instant.  As the day progresses, these levels will change as the day's HLC changes, as you'd expect. 

This script has the option of displaying "weekly pivots" (which use the HLC of the previous week) and "monthly pivots" (which use the HLC of the previous month).

For additional guidance for using pivot points, please read this informative article.  

The type of pivot levels, line style, line thickness, line colors, and the existance of labels are all customizable!

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).


  

 

Study, Pro, Sup/Res Levels