Hi Guys, I am having may problems getting accurate pivot points to show and have accepted the compromise with cal from intraday bars instead of daily bars.
However there seems to be an error in your formula when calculating R3 and S3. For example using the data below from 31 March for TF (see below copied from excel) I inserted the Hi, Low, and Close into the user defined values of Ninja's Pivots indicators. The attached chart shows the correct pivots (thick bars based on the values below )and agree with the manual calculation with the spreadsheet below. The biggest issue is ninjas S3 and R3 (blue and red lines) which seems to be way off what they should be. Can somebody please check the formula and see what the issue is? Thanks. DJ
TF
1-Apr
Data:
Open 838.8
Hi 843
Low 836.3
Close 841.8
Formulas:
PP 840.37
S1 837.73
S2 833.67
S3 831.03
R1 844.43
R2 847.07
R3 851.13
Calculations:
Pivot Point = ( High + Close + Low )/3
Support 1 = 2 * Pivot - High
Support 2 = Pivot - (R1 - S1)
Support 3 = Low - 2*(High - Pivot)
Resistance 1 = 2 * Pivot - Low
Resistance 2 = Pivot + (R1 - S1)
Resistance 3 = High + 2*(Pivot - Low)
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