High & Low Pivot
High & Low Pivot analysis focuses on identifying key levels based on the highest high and lowest low prices within a specific timeframe. Traders use these levels as potential support and resistance points. Integrating Amibroker data feeds enhances High & Low Pivot analysis by offering real-time market data, aiding traders in accurately identifying and utilizing these pivotal price levels for informed trading decisions.
/_SECTION_BEGIN("High & Low Pivot");
/* criteria for high and low pivot */
HP = IIf( H < Ref(H,-1) AND Ref(H ,-1) > Ref(H ,-2) AND Ref(H ,-1) > Ref(H ,-3), 1, 0);
LP = IIf( L > Ref(L ,-1) AND Ref(L ,-1) < Ref(L ,-2) AND Ref(L ,-1) < Ref(L ,-3), 1, 0);
EnableScript("jscript");
<%
result = VBArray(AFL("High")).toArray();
function TrendLine( starti, startv, endi, endv )
{
for( j = starti; j <= endi; j++ )
{
result[ j ] = startv + ( j - starti )*(endv-startv)/(endi-starti);
}
}
High = VBArray(AFL("High")).toArray();
Low = VBArray(AFL("Low")).toArray();
HP = VBArray(AFL("HP")).toArray();
LP = VBArray(AFL("LP")).toArray();
endi = -1;
starti = -1;
dir = 0;
for( i = High.length - 0; i >= 0; i-- )
{
if( dir == 1 && LP[ i ] )
{
TrendLine( i, Low[ i ], endi, endv );
endi = i;
endv = Low[ i ];
dir = -1;
}
else
if( dir == -1 && HP[ i ] )
{
TrendLine( i, High[ i ], endi, endv );
endi = i;
endv = High[ i ];
dir = 1;
}
else
if( dir == 0 && endi == -1 && LP[ i ] )
{
endi = i;
endv = Low[ i ];
dir = -1;
}
else
if( dir == 0 && endi == -1 && HP[ i ] )
{
endi = i;
endv = High[ i ];
dir = 1;
}
}
AFL("Graph0")=result;
%>
Graph0Color=colorYellow;
Graph1=Close;
Graph1Style=64;
_SECTION_END();