ST15 CM inspired 4hr renko Pivots
Standard pivot points do not work with ATR Renko charts, but I really enjoy using pivot points to find strong s/r, so I started to look at scripts that could provide the same results as floor trader pivots but on a renko chart. I found a script written by CM that I was able to tweak a little and I got it work with ATR renkos. The only issue now is he only wrote the script to look for 1hr pivot points so I am now in the process off writing versions that can do the 240 1d 1w and 1m pivot points as well. Here is the 4hr :) enjoy! Thank you CM :)
study(title=" ST15 CM inspired 4hr renko Pivots", shorttitle="4hr RP V1", overlay=true) sh = input(true, title="Show 4 Hour Pivots?") sh3 = input(false, title="Show R3 & S3?") pivot = (high + low + close ) / 3.0 r1 = pivot + (pivot - low) s1 = pivot - (high - pivot) r2 = pivot + (high - low) s2 = pivot - (high - low) r3 = sh3 and r1 + (high - low) ? r1 + (high - low) : na s3 = sh3 and s1 - (high - low) ? s1 - (high - low) : na //Daily Pivots htime_pivot = security(tickerid, '240', pivot[1]) htime_r1 = security(tickerid, '240', r1[1]) htime_s1 = security(tickerid, '240', s1[1]) htime_r2 = security(tickerid, '240', r2[1]) htime_s2 = security(tickerid, '240', s2[1]) htime_r3 = security(tickerid, '240', r3[1]) htime_s3 = security(tickerid, '240', s3[1]) plot(sh and htime_pivot ? htime_pivot : na, title="4 Hour Pivot",style=circles, color=fuchsia,linewidth=3) plot(sh and htime_r1 ? htime_r1 : na, title="R1",style=circles, color=#DC143C,linewidth=3) plot(sh and htime_s1 ? htime_s1 : na, title="S1",style=circles, color=lime,linewidth=3) plot(sh and htime_r2 ? htime_r2 : na, title="R2",style=circles, color=maroon,linewidth=3) plot(sh and htime_s2 ? htime_s2 : na, title="S2",style=circles, color=#228B22,linewidth=3) plot(sh and htime_r3 ? htime_r3 : na, title="R3",style=circles, color=#FA8072,linewidth=3) plot(sh and htime_s3 ? htime_s3 : na, title="S3",style=circles, color=#CD5C5C,linewidth=3)