Comments for https://ctrader.com/products/161
Comments for: https://ctrader.com/products/161
- Cchrisjtubby55
What does the shaded area around the pivot point represent, please?
This area represents a range for the Daily Pivot Points. Prices may form different price action around this region, allowing for an integrated judgment based on these price action rather than just considering the relationship between prices and the Pivot Points' price levels. When this area is narrow, there's a high probability of trending movements, whereas when it's wide, there's likely to be range-bound (oscillating) movements.
- In reply tochrisjtubby55⬆:
This area is expanded upwards and downwards from the Pivot Points based on the average of yesterday's highest and lowest prices.
pivot = (high + low + close) / 3;
hld2 = (high + low) / 2;
pivotZTop = pivot+ Math.Abs(pivot - hld2);
pivotZBottom = pivot - Math.Abs(pivot - hld2) ;- Cchrisjtubby55
Thank you for the speedy response.
Would you be able to produce point & Figure, based on price action, as nobody seems to have created one for cTrader?