Pivot Point S&R with GMT Correction

Category: market_structure, volatility

Calculates Floor Pivot Points (Standard) with a custom daily start time, allowing for GMT/broker offset adjustments. It plots Support (S1-S3), Resistance (R1-R3), and the Central Pivot Point.

Formula

P = (PreviousHigh + PreviousLow + PreviousClose) / 3\nR1 = (2 * P) - PreviousLow\nS1 = (2 * P) - PreviousHigh\nR2 = P + (PreviousHigh - PreviousLow)\nS2 = P - (PreviousHigh - PreviousLow)\nR3 = P + 2 * (PreviousHigh - PreviousLow)\nS3 = P - 2 * (PreviousHigh - PreviousLow)

Inputs

• StartHour (default: 0)
• StartMinute (default: 0)
• DaysToPlot (default: 15)
• SupportLabelColor (default: DodgerBlue)
• ResistanceLabelColor (default: OrangeRed)
• PivotLabelColor (default: Green)
• fontsize (default: 8)
• LabelShift (default: 0)

See signal primitives and every published strategy that uses Pivot Point S&R with GMT Correction on WOBR StrategyVerse.