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VR Pivot

Icon version of the program Version: 17.100

Icon program update date Updated: 12.12.2014

Icon date of adding the program Added: 12.12.2014

License: Free

Price: 0 $

28 downloads in 60 days

VR Pivot

Review

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.

Algorithm of operation

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

To hide the update history

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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