Extend Horizontal Line on a Daily Chart based on Monthly High, Low and Close

shakib3585

Active member
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Hello All,

I am trying to extend a Horizontal line on the left based of Calculated Daily Pivots from Previous Month's High, Low and Close. I plan to draw the lines on a Daily Chart.

My definition of the Daily Pivot Based on Monthly Aggregation is as follows,

PP = HLC3[1];
R = PP + (High[1] - Low[1]);
S = PP - (High[1] - Low[1]);

I only intend to draw the three lines on the current Month only and extend them to the left. I do not wish to draw any Previous Month's Pivots based off the calculation. Please help.

Thanks,

Faisal
 
Solution
Hello All,

I am trying to extend a Horizontal line on the left based of Calculated Daily Pivots from Previous Month's High, Low and Close. I plan to draw the lines on a Daily Chart.

My definition of the Daily Pivot Based on Monthly Aggregation is as follows,

PP = HLC3[1];
R = PP + (High[1] - Low[1]);
S = PP - (High[1] - Low[1]);

I only intend to draw the three lines on the current Month only and extend them to the left. I do not wish to draw any Previous Month's Pivots based off the calculation. Please help.

Thanks,

Faisal

See if this is what you wanted: monthly pivots points, as you defined then, plotted on a daily chart. You can change the displace to lookback at other months.

Screenshot-2023-02-26-191943.png
Code:
input showonlytoday =...
Hello All,

I am trying to extend a Horizontal line on the left based of Calculated Daily Pivots from Previous Month's High, Low and Close. I plan to draw the lines on a Daily Chart.

My definition of the Daily Pivot Based on Monthly Aggregation is as follows,

PP = HLC3[1];
R = PP + (High[1] - Low[1]);
S = PP - (High[1] - Low[1]);

I only intend to draw the three lines on the current Month only and extend them to the left. I do not wish to draw any Previous Month's Pivots based off the calculation. Please help.

Thanks,

Faisal
Here is some code that provides you with the basic syntax to get started.
change the aggregation to month
https://usethinkscript.com/threads/...the-left-towards-the-respective-candles.7266/
 
Hello All,

I am trying to extend a Horizontal line on the left based of Calculated Daily Pivots from Previous Month's High, Low and Close. I plan to draw the lines on a Daily Chart.

My definition of the Daily Pivot Based on Monthly Aggregation is as follows,

PP = HLC3[1];
R = PP + (High[1] - Low[1]);
S = PP - (High[1] - Low[1]);

I only intend to draw the three lines on the current Month only and extend them to the left. I do not wish to draw any Previous Month's Pivots based off the calculation. Please help.

Thanks,

Faisal

sorry, your words are confusing and contradictory.
what does a daily pivot have to do with monthly price levels?

this doesn't make any sense
....Daily Pivot Based on Monthly Aggregation is as follows,....

if you are using monthly data, you will have a monthly pivot.

...only current month, but extend to the left? which is it?
do you really want lines extending to the left? back in time, before the event?

i think it would be simpler if you explained what you want ,
with the desired data time (monthly)
and not mention chart time( daily)
 
sorry, your words are confusing and contradictory.
what does a daily pivot have to do with monthly price levels?

this doesn't make any sense
....Daily Pivot Based on Monthly Aggregation is as follows,....

if you are using monthly data, you will have a monthly pivot.

...only current month, but extend to the left? which is it?
do you really want lines extending to the left? back in time, before the event?

i think it would be simpler if you explained what you want ,
with the desired data time (monthly)
and not mention chart time( daily)
sorry for the confusion
 
Hello All,

I am trying to extend a Horizontal line on the left based of Calculated Daily Pivots from Previous Month's High, Low and Close. I plan to draw the lines on a Daily Chart.

My definition of the Daily Pivot Based on Monthly Aggregation is as follows,

PP = HLC3[1];
R = PP + (High[1] - Low[1]);
S = PP - (High[1] - Low[1]);

I only intend to draw the three lines on the current Month only and extend them to the left. I do not wish to draw any Previous Month's Pivots based off the calculation. Please help.

Thanks,

Faisal

See if this is what you wanted: monthly pivots points, as you defined then, plotted on a daily chart. You can change the displace to lookback at other months.

Screenshot-2023-02-26-191943.png
Code:
input showonlytoday = yes;
input agg = AggregationPeriod.MONTH;
input displace = 1;

def pp_;
def R_;
def S_;
if showonlytoday and
  (!IsNaN(close(period = agg)[-1]) or
   IsNaN(close)) {
    pp_ =   Double.NaN;
    R_ = Double.NaN;
    S_ = Double.NaN;
} else {
    pp_ = hlc3(period = agg)[displace];
    R_  = pp_ + (high(period = agg)[displace] - low(period = agg)[displace]);
    S_  = pp_ - (high(period = agg)[displace] - low(period = agg)[displace]);
}

plot pp = HighestAll(pp_);
plot R  = HighestAll(R_);
plot S  = HighestAll(S_);
pp.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
R.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
S.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
;
 
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