Attached is some explanations about this indicator:
1. Plots yearly, semester, quarterly, monthly, weekly, daily and intraday
pivots, support and resistance levels in a single chart.
Time frame for intraday pivots is customizable (most traders use 60
minutes for daytrading).
2. Make sure you’ve loaded enough data in the chart to plot the requested
time frame. If you haven’t loaded all of last year’s data, for instance,
you will not see the current yearly levels.
3. Check the box for *Update value intrabar* under the *General *tab, or
you will not see pivots on the right-most bar intraday.
4. Longer time frames appear as thicker dots.
5. Pivots, support and resistance levels for each time frame can be
selectively turned on or off.
6. Support and resistance levels for all time frames can be selectively
turned on or off (e.g., show only S1 and R1 for all time frames).
7. Automatically notes the time frame of the chart and does not attempt
to provide pivots for lower time frames (e.g., won’t generate error trying
to show daily pivots on a monthly chart).
8. A generous reader has added the ability to display text. There are
various *Inputs* at the bottom to control the display.
9. To see the pivots for a given time frame before the new time period
begins, set *Force[time_period]Calc* to *True*. For instance, on a
weekend, you would set *ForceDailyCalc* and *ForceWeeklyCalc* to
*True*to see next week’s daily and weekly pivots. Don’t forget to
turn them back
to *False* once the first session of the week begins.
10. The default formula for R3 and S3 has been changed to the traditional
floor trader pivots formula. The one previously used was TradeStation’s
version, which is different. Set *UseTraditionalS3R3Calc* to false to
continue to use the TradeStation version.
11. A new *Input*, *PlotLastBarOnly* does just that.
Known issues:
1. Because weeks can overlap yearly, semester, quarterly and monthly
periods, weekly charts should not be used to show these levels.
2. For symbols that have sessions that overlap days (futures & forex),
monthly and higher time frame levels computed on an intraday chart will
include data for the month up to 11:59 pm, rather than the close of the
session that ended that day.
3. Official daily settlement is not necessarily the last quoted price on
an intraday chart. Accordingly, pivots for daily and higher time frames may
not be exactly correct on intraday charts
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