Pivot levels

My TOS platform setup has not changed since my last post. The only difference is I have been watching the dollar (/DX) more closely in my main screen now.

Anyways, I am using this script to calculate the pivot levels for me. But it requires you going into edit studies and entering in the day high, low and close manually every night. As you can see, the code is almost identical to the last post, but this one allows you to put in the values in the edit studies screen.

input day_high = 0;

input day_low = 0;

input day_close = 0;

plot pivot = (day_high + day_low + day_close)/3;

pivot.SetDefaultColor(Color.YELLOW);

plot R1 = pivot * 2 - day_low;

R1.SetDefaultColor(Color.GREEN);

plot S1 = pivot * 2 - day_high;

S1.SetDefaultColor(Color.GREEN);

plot R2 = pivot + R1 - S1;

R2.SetDefaultColor(Color.LIGHT_GRAY);

R2.hide();

plot S2 = pivot - (R1-S1);

S2.SetDefaultColor(Color.LIGHT_GRAY);

S2.hide();

plot R3 = day_high + 2*(pivot-day_low);

R3.SetDefaultColor(Color.LIGHT_GREEN);

R3.hide();

plot S3 = day_low - 2*(day_high - pivot);

S3.SetDefaultColor(Color.LIGHT_GREEN);

S3.hide();

Pivot levels

Here is some code to calculate the simple pivot levels for any symbols. You can choose the timeframe to decide if you want to calculate daily, weekly or monthly pivots. By default, the code only shows the pivot, S1 and R1. You can remove the hide() lines and show all the levels if you want.



input timeFrame = {default DAY, WEEK, MONTH};
def period_high = high(period = timeFrame)[1];
def period_low = low(period = timeFrame)[1];
def period_close = close(period = timeFrame)[1];

plot pivot = (period_high + period_low + period_close)/3;
pivot.SetDefaultColor(Color.YELLOW);

plot R1 = pivot * 2 - period_low;
R1.SetDefaultColor(Color.GREEN);
plot S1 = pivot * 2 - period_high;
S1.SetDefaultColor(Color.GREEN);

plot R2 = pivot + R1 - S1;
R2.SetDefaultColor(Color.LIGHT_GRAY);
R2.hide();

plot S2 = pivot - (R1-S1);
S2.SetDefaultColor(Color.LIGHT_GRAY);
S2.hide();

plot R3 = period_high + 2*(pivot-period_low);
R3.SetDefaultColor(Color.LIGHT_GREEN);
R3.hide();
plot S3 = period_low - 2*(period_high - pivot);
S3.SetDefaultColor(Color.LIGHT_GREEN);
S3.hide();

TOS platform layout

What kind of layout works for you? For me, it has taken a long time to perfect the layout on my TOS platform. Here's my main TOS window with all the lovely intraday indicators I mentioned
along with 1 minute charts of all the index futures. I have two 22" widescreen LCDs running side by side @ 1680*1050 resolution. That layout seems to fit perfectly and quite legible.

Happy new year everyone!

Have you guys read about this? TD Ameritrade is buying up thinkorswim. We all know how
awesome TOS is! But TD Ameritrade? I definitely have my reservations about this company.
Back in the .com days, I had an account with Datek. Anybody remember that broker? They were
pumping out some cool trading tools at the time. Streaming quotes and real time portfolio management with Java applets. I was quite happy with them at the time. Then Ameritrade bought them out around 2002 I believe. After that, TD merged with Ameritrade. In canada at least, TD basicallly just converted all the Ameritrade accounts into the TD system. Believe me, that was the most horrible platform I have use. HTML interface, no streaming quotes and forget about real time streaming charts. Commision went up as well. Needless to say, I had to switch broker to the next less horrible broker Etrade Canada. That is a whole other horror story all by itself for another time.

Anyways, my point is let's all pray everything will remain the same especially the platform and the commission.