VR Pivot

License: Free

Price: 0 $

Published: 12.12.2014

Updated: 12.12.2014

Version: 17.100

Downloaded: 7473

Views: 22611

Size: 0.08Mb

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VR Pivot

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>Overview

VR-Pivot draws 7 lines according to the formulas described above and a vertical line for the ability to move levels through the history.

This code was written in order to check and study the operation of pivot levels. while writing VR-Pivot, there were many similar programs on the Internet, but they could not track the level readings on the history.

Unlike standard programs, this script uses the looping method, so the script itself is not removed from the chart, it can be manually deleted.

Example of how the vr pivot script works

>Advantages

VR-Pivot is executed as a script, the script does not take up the flow of the indicator or adviser.

>Operation algorithm

Pivot levels are calculated using the following formulas:

  • (PP) = (High + Low + Close) / 3 level Pivot

First support and resistance levels:

  • (R1) = (2 x PP) - Low First resistance
  • (S1) = (2 x PP) - High First support

Second support and resistance:

  • (R2) = PP + (High - Low) Second resistance
  • (S2) = PP - (High-Low) Second support

Third support and resistance:

  • (R3) = High + 2 (PP - Low) Third resistance
  • (S3) = Low - 2(High - PP) of the Third support

>Profitability

The script does not trade automatically, so the yield depends on the knowledge and skills of the trader to apply Pivot levels

>Recommendations

Use the script in conjunction with Your trading strategy

>Settings

The script doesn't have any settings.

>Video

There is no video for the script

>Updates

17.100 from 16.10.2017 - First version

>Planned

  • Rewrite the script completely converting it into an indicator
  • Make a video review
  • To add settings

>What's in the archive

The archive contains a file for Metatrader 4 VR --- Pivot.ex4

>FAQ

Without question

>Reviews and discussions

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VR Pivot

Published: 12.12.2014

Updated: 12.12.2014

Version: 17.100

Downloaded: 7473

Views: 22611

Size: 0.08Mb

VR-Pivot draws 7 lines according to the formulas described above and a vertical line for the ability to move levels through the history.

License: Free

Price: 0 $

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