Hybrid Pivot Zones [DW]

14. Jan. 2018

This is an experimental study designed to identify potential areas of support and resistance using a hybrid between Camarilla and Fibonacci pivot calculations.
The levels are calculated by taking 110% of the previous interval's range multiplied by 8.33%, 16.67%, 25%, 50%, 61.8%, 78.6%, 100%, 127.2%, 141.4%, and 161.8%, then adding them above and below the interval open.

Custom bar colors are included.

9. Feb. 2018

Versionshinweise

Simple Update:
Now supports any resolution within TradingView's capabilities.

16. Jan. 2019

Versionshinweise

Updates:

Due to my initial lack of understanding about how Pivot Points work and how they were calculated, I made some errors that I've corrected in this update.

Pivot Point's source is now adjustable via an easy to use dropdown menu.
There are 4 source options for the Pivot:
-> hlc3, which is the average of high, low, and close of the previous interval
-> hl2, which is the median of the previous interval
-> ohlc4, which is the average of open, high, low, and close of the previous interval
-> close, which is the close of the previous interval

An interval renewal condition has been implemented to prevent repainting.

7 new range percentages have been added to the script: 183.9%, 200%, 227.2%, 241.4%, 261.8%, 283.9%, 300%. So now there are 14 new levels calculated.

Altered the appearance of the levels. The new look is much easier on the eyes.

Bar colors have been changed. The color scheme now reflects what region of support and resistance closing price is currently in.

Note: Due to the way this script alters chart scaling, I recommend selecting the "Scale Price Chart Only" option in your scale settings located in the bottom right corner of the chart. However, if you prefer the broadened perspective, then more power to you!