To be a successful trader, you need to have a picture of where price is going. Where will this market find support before reversing? How far up are the bulls going to take the price? If you knew the answer to questions like those, you could make a lot of money, right?
What if I told you that the market makers on the floor of the New York Stock Exchange had actually pre-determined those levels before the trading day even began? Well, they do. They're called "Floor Trader Pivots." Considering that they are the ones who really make price move (your $500 buy isn't going to change the value of a stock, their $50,000,000 buy will), wouldn't you like to know where those levels are, too?
"Floor Trader Pivots" will show you the way.
Check out this example of Altaba Inc. for the entire week of June 11-15 of 2018. The green lines represent resistance levels, yellow represents the pivot levels (the central area off of which the other levels are based around), and red represents support levels. Aqua is the prior day's close. Daily levels are solid lines. Weekly levels (which have much more power) are circles.
Note the far right of the chart where you can see the next week's pivot levels already plotted. That's right, this script does not repaint. Levels are locked in before the next trading day/week/month even opens!!!
What about the Forex markets? What about higher time-frames?! Here's an example from the 4 hour chart of the AUD/USD. In this timeframe, weekly levels are solid lines and monthly levels are circles.
What about Cryptocurrencies? They aren't traded on the New York Stock Exchange. Well, guess what ... ?
Now to the details.
This indicator will plot the current session's Floor Trader Pivot levels, using either the standard formula or the Fibonacci formula, calculated out to the 3rd Support and Resistance levels for any Stock, Forex, or Cryptocurrency pair. For daily calculations, you also get the mid-support/resistance levels (halfway between each level and the next).
For stocks, the indicator is setup to sync with the NASDAQ and NYSE. If you are trading stocks in a different market, you will need to enter in the requested time fields in the settings box to get all of the line breaks between days to display correctly.
Forex markets display correctly on the FXCM charts. The higher timeframes (4 hour and daily) work on the ICE and OANDA charts, but the shorter intraday timeframes won't look right.
To use the indicator in Crypto markets, simply put a check next to "Crypto?" in the indicator's format box.
Regardless of which market you trade, "Floor Trader Pivots" is setup to display on 1, 2, 5, 15, 30, and 60 minute, 4 hour, and daily charts.
By default, the indicator will use the standard Pivot Point calculations for stock markets and the Fibonacci calculation for Forex and Cryptocurrency markets. If you want to have manual control over which calculation is used, uncheck "Auto-Switch to Fibs in FX/Crypto?" in the format box. This will make the indicator use the standard calculation for all markets. To then manually switch to the Fibonacci calculation, check the box next to "Fibonacci Pivots."
Note: On the 1 and 2 minute charts, the line breaks don't always display correctly if the market you are looking at did not have trades executed for every period of the trading session. In these instances, the values will still be correct, they just won't have the clean breaks between days that you will see on the higher timeframes.
Price for access is either $10 sent via PayPal to josh@warrenmusiccopying.com (message me your username and PayPal ID used to send funds) or 0.0015 Bitcoin sent to 3DuBYrP8uZswN6voCfzQMZGEGP1aH8kquB (message me your username and txid of payment).
เอกสารเผยแพร่
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You can now add or remove the mid-levels between the main pivot levels and you can adjust the colors of the levels (It will take some work as there are a ton of them, but you can do it).
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Added a one click ability to add or remove the higher time frame pivots in the options screen.
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Fixed the issue with the Daily view so that the lines break correctly and it doesn't look like garbage.
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Fixed issue with Daily and 4h lines not starting moving to new levels at the right times. As is, those timeframes will not display the weekly levels until the week has actually started. However, you will still be able to see them in the 1h, 15m, 5m, 2m, and 1m timeframes before the market opens for the week.
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IMPORTANT CHANGE: I lost access to the BTC address I listed above. From here on, those wanting to gain access to this script who are paying with Bitcoin should send 0.0015 BTC to 1PEbyc82a78TnkWsbmPUfQJqmKzACy6pwS.
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Fixed an issue where the next session's levels weren't displaying in the 1 hour time frame before the market opened.
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Major update: This indicator can now do Camarilla Pivots! Important notes for that setting: 1.) The Camarilla setting only calculates for intraday timeframes. So, the 1m, 5m, 15m, and 1h charts. For higher timeframe pivots, you will have to use the Standard of Fibonacci settings 2.) You will not see higher timeframe pivots when you switch to Camarilla pivots (they will still appear for the Standard and Fibonacci settings) 3.) Because of limitations in the number of outputs a single indicator can have, I had to get a little creative with the coding. That resulted in the R4 and S4 Camarilla levels to be displayed with dots instead of lines.
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Fixed some bugs from the Camarilla update.
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Added the ability to view weekly Camarilla pivots.
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Updated weekly Camarilla settings to display properly on the 4h timeframe.
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Realized that I had set the indicator to default to Weekly Camarilla pivots. Changed that to default to the standard pivot points calculation.
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Added a bunch of built-in alerts. You can set the indicator to alert you when price rises or falls to a particular support/resistance level. You can also set an alert to let you know when a support/resistance level is crossed in the opposite direction (ex. price is hovering above the R1 level and you get an alert when price falls back down to the R1 level). To arm the alerts, click on the "Alerts" tab, click to add an alert, select the "PP" indicator, and then choose what you would like to be alerted to from the dropdown.
Floor Trader Pivots, how can I add this? Are there any instructions on how to use it?
prap4stocks
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Hello josh_kaprun,
I recently purchased this script from you
I have few questions on the Pivots
- What does "Directional Pivot" and "Central Pivot" indicate
- Looks like the Pivot points values keep changing as price moves is there a way to have Fixed Pivots
- Monthly pivot points are not displayed
benrn123
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@prap4stocks, Hi Josh,
I also recently purchased and am having the same issue of the Monthly pivot points not displaying. Any ideas? Thanks
josh_kaprun
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@benrn123, Monthly pivots are only displayed on the 4h and D charts with the "Show higher timeframe" option turned on.
The line values change because the values aren't set until the market closes. The levels are based off of calculations from the high, low, and close of the day. So, as the market gets close to closing, you'll only see approximate values. As soon as the market closes, just switch to a different market and, when you come back to what you were looking at, everything will be straight.
Do a Google search for "Quick Guide to the Pivot Range" for an article that talks about the Directional Pivot and Central Pivot.
Hey Josh. My buddy Curt got this from you and loves it. How can I get it and add it to my charts? Thanks
dewithh64
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payment sent, thanks. all ID's included in a note with payment..
jhhara
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How do I pay for this script & its associated script that covers levels 4-6. Can't find any logo or button to pay. Thanks
f3982
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How accurate are the pivots when using the 3,5,13,65,130, or 195 minute chart. Does using "Extended Trading Hours" in TradingView affect how the pivots are plotted?