Pivot High - Pivot Low Study

[aerbis]

Create a Price Study Indicator to display high and low pivot points.

Pivot High:

Place a drawing symbol at the high price of the bar when the high price is greater than the high price of the the X number of bars ago (default 4) and greater than the high price of the subsequent 2 bars.

Pivot Low:

Place a drawing symbol at the low price of the bar when the low price is less than the low price of the the X number of bars ago (default 4) and less than the high price of the subsequent 2 bars.

See Attached Example

FWIW, I believe there are several out there already, please check out Chris Kryza's fileshare area, in this case his pivot folder. I know FibbGann has done some good work in this area too.

[ACM]

aerbis
The attached study should do what you asked
It uses the Donchian study to determine the highest high/lowest low for the user defined period (default is 4).
FWIW this efs can be done very easily also with the Formula Wizard
Alex

Alex, I keep forgetting the Donchian study , very good advice and easy to setup.

[silverxx12]

Alexis could you just post the efs script because i can't seem to open the formula on my computer

Thanks

[ACM]

silverxx12
Here it is enclosed
Alex

/*********************************************************
Alexis C. Montenegro © July 2003                          
Use and/or modify this code freely. If you redistribute it
please include this and/or any other comment blocks and a 
description of any changes you make.                      
**********************************************************/

var vDonch = null;

function preMain() {
    setPriceStudy(true);
    setStudyTitle("PivotsHH-LL");
    setShowCursorLabel(false);
    
    var fp1 = new FunctionParameter("Length", FunctionParameter.NUMBER);
	fp1.setLowerLimit(1);		
	fp1.setDefault(4); //Edit this value to set a new default

	
}

function main(Length) {
   
    if (vDonch == null) vDonch = new DonchianStudy(Length, 0);
 
/*************************************************
Insert your code following this text block        
Use vDonch.getValue(DonchianStudy.UPPER) and      
vDonch.getValue(DonchianStudy.BASIS) and          
vDonch.getValue(DonchianStudy.LOWER) for your code
**************************************************/

    if(high(-2)>vDonch.getValue(DonchianStudy.UPPER,-3)&&high(-1)<high(-2)&&high()<high(-2))
        drawTextRelative(-2,high(-2),"Ÿ",Color.red,null,Text.CENTER|Text.BOTTOM|Text.BOLD,"Wingdings",12);
    if(low(-2)<vDonch.getValue(DonchianStudy.LOWER,-3)&&low(-1)>low(-2)&&low()>low(-2))
        drawTextRelative(-2,low(-2),"Ÿ",Color.blue,null,Text.CENTER|Text.TOP|Text.BOLD,"Wingdings",12);
    
    
    
    return null;
}

[silverxx12]

Thanks for the quickest reply ever..lol

I use netscape for as my internet browser
for some reason i was able to download the efs but not open it - how do iget around this problem?

[ACM]

silverxx12
You may want to copy the script again as there seems to have been a problem when I first posted the code using the php tags
Alex

[silverxx12]

whats the process i should go through to copy the efs , never done that, thanks

[ACM]

silverxx12
Copy the text enclosed in the code: box then in eSignal open a new Formula Editor window and paste the contents in it. Save the file in any of the subfolders of Formulas.
With regards to the Netscape issue try typing the full name and extension (ie pivotshh-ll.efs) in the File Name box of the File Save dialog box that appears when downloading
Alex

[aerbis]

Thanks!

How would I create an alert for the script?

[ACM]

aerbis
I have added the provision for alerts. To enable them open the efs with the Editor and uncomment the appropriate commands by removing the double slash (//) at the beginning of the appropriate lines.
Alex

[tsentosa]

alert

alexis:
while on the subject of alert, can you briefly explain the difference between <formula> <wizard> <alert> and <formula> <alert>
under. Both are under chart options Thanks

[ACM]

tsentosa
Having deleted my Formulas->Wizard->Alerts subfolder I cannot tell what differences there are between those EFSs and the ones in the Alerts folder. If you can zip the contents of the ones in the Wizard->Alerts folder and post them in a message I will gladly take a look. That said I would imagine that their primary purpose is to show how to program alerts using the Formula Wizard.
Alex

[tsentosa]

Alert &amp; Pivot Hi/Lo

Alexis:
I am not asking the specifics of your EFS. My questions is just when opening adv chart then select <formula>:
you can select <alerts> or <wizard> <alerts>. What is the difference between the files in the two folders. ARe they different kinds of alerts?

Question on using pivotlo/hi, can I have a field (user defined) which calculate the difference between last and the previous pivot low and then display this field in the quote window for several different stocks?

Thanks