Floor Trader Pivots (Indicator)
DisclaimerInput Information
| Name | Expression | Default | Description |
| UseSessionOrDateChange_0_or_1 | Numeric | 0 | Determines whether price levels should be calculated based on session data (=0) or 24-hour daily data (=1). |
| Plot_5or7 | Numeric | 5 | When set to 5, plots R3 and S3 are not shown. When set to 7, all plots are displayed. |
Market Synopsis
Floor traders, in particular, have long used a calculated value called the Pivot as a price fulcrum. Support and resistance levels may also be calculated from the Pivot.
Plot Information
| Number | Name | Default Color | Description |
| Plot1 | R3 | Magenta | (Optional) Resistance level 3 = R2 + YestHigh - YestLow |
| Plot2 | R2 | Red | Resistance Level 2 = PP + YestHigh - YestLow |
| Plot3 | R1 | Cyan | Resistance Level 1 = PP * 2 - YestLow |
| Plot4 | PP | Yellow | Pivot point = = ( YestHigh + YestLow + YestClose ) / 3 |
| Plot5 | S1 | Cyan | Support Level 1 = PP * 2 - YestHigh |
| Plot6 | S2 | Red | Support Level 2 = PP - YestHigh + YestLow |
| Plot7 | S3 | Magenta | (Optional) Support level 3 = S2 - YestHigh + YestLow |
When applied to a chart, this indicator displays five or seven plots (based on input Plot_5or7) in the same subgraph as the price data.