Weekly and Monthly Pivots Indicator for ThinkorSwim

BenTen

BenTen

Administrative
Staff
VIP
Here is an indicator that plot daily, weekly, and monthly pivot point along with some support and resistance lines on your ThinkorSwim chart. In addition to the three mentioned timeframes, you can also select from 4hr, hourly, etc. This indicator is extremely powerful and useful.



thinkScript Code

Rich (BB code):
# WeeklyMonthlyPivots_TS
# http://thinkscripter.wordpress.com
# [email protected]
# Last Update 20 APR 2009

input timeFrame = {default WEEK, MONTH};
input showOnlyToday = no;

def H = high(period = timeFrame)[1];
def L = low(period = timeFrame)[1];
def C = close(period = timeFrame)[1];

def calc_PP = (H + L + C) / 3;
def calc_R1 =  (2 * calc_PP) - L;
def calc_R2 = calc_PP + H - L;
def calc_R3 = H + 2 * (calc_PP - L);

def calc_S1 = (2 * calc_PP) - H;
def calc_S2 = calc_PP - H + L;
def calc_S3 = L - 2 * (H - calc_PP);

plot R3;
plot R2;
plot R1;
plot PP;
plot S1;
plot S2;
plot S3;

if (showOnlyToday and !IsNaN(close(period = timeFrame)[-1])) or
(getAggregationPeriod() > if timeframe == timeframe.WEEK then AggregationPeriod.WEEK else AggregationPeriod.MONTH)

then {

    R1 = Double.NaN;
   
    R2 = Double.NaN;
   
    R3 = Double.NaN;
   
    PP = Double.NaN;
   
    S1 = Double.NaN;
   
    S2 = Double.NaN;
   
    S3 = Double.NaN;
  
}
else {
   
  
R1 = calc_R1;
   
    R2 = calc_R2;
   
    R3 = calc_R3;
   
    PP = calc_PP;
   
    S1 = calc_S1;
   
    S2 = calc_S2;
   
    S3 = calc_S3;

}

R1.SetDefaultColor(color.red);
R2.SetDefaultColor(color.red);
R3.SetDefaultColor(color.red);
S1.SetDefaultColor(color.green);
S2.SetDefaultColor(color.green);
S3.SetDefaultColor(color.green);

R1.SetStyle(Curve.POINTS);R2.SetStyle(Curve.POINTS);
R3.SetStyle(Curve.POINTS);
S1.SetStyle(Curve.POINTS);
S2.SetStyle(Curve.POINTS);
S3.SetStyle(Curve.POINTS);

PP.DefineColor("Color", Color.CYAN);
PP.AssignValueColor(PP.color("Color"));
PP.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);

Shareable Link

https://tos.mx/xRWpT3
 
Last edited:
S

San

Member
2019 Donor
@BenTen, Some reason its not shows 1day 1 hr time frame. One more is that possible to set time frame 1mts.

 
Last edited:
BenTen

BenTen

Administrative
Staff
VIP
@San This indicator only support weekly and monthly pivots point.

 
Last edited:
netarchitech

netarchitech

Well-known member
VIP
@BenTen I've enhanced the Pivot Point Indicator by adding Daily Pivot Points, so now you can put Daily Pivots on a Hourly chart :) I would suggest a longer time period than 1 day...perhaps 10 or 20 days...



Rich (BB code):
# DailyWeeklyMonthlyPivots_TS
# http://thinkscripter.wordpress.com
# [email protected]
# Last Update 11 MAY 2019

input timeFrame = {DAY, default WEEK, MONTH};
input showOnlyToday = no;

def H = high(period = timeFrame)[1];
def L = low(period = timeFrame)[1];
def C = close(period = timeFrame)[1];

def calc_PP = (H + L + C) / 3;
def calc_R1 =  (2 * calc_PP) - L;
def calc_R2 = calc_PP + H - L;
def calc_R3 = H + 2 * (calc_PP - L);

def calc_S1 = (2 * calc_PP) - H;
def calc_S2 = calc_PP - H + L;
def calc_S3 = L - 2 * (H - calc_PP);

plot R3;
plot R2;
plot R1;
plot PP;
plot S1;
plot S2;
plot S3;

if (showOnlyToday and !IsNaN(close(period = timeFrame)[-1])) or
(getAggregationPeriod() > if timeframe == timeframe.DAY 
                          then AggregationPeriod.DAY 
                          else if timeframe == timeframe.WEEK
                               then AggregationPeriod.WEEK
                               else AggregationPeriod.MONTH)

then {

    R1 = Double.NaN;
    
    R2 = Double.NaN;
    
    R3 = Double.NaN;
    
    PP = Double.NaN;
    
    S1 = Double.NaN;
    
    S2 = Double.NaN;
    
    S3 = Double.NaN;
   
} 
else {
    
   
 R1 = calc_R1;
    
    R2 = calc_R2;
    
    R3 = calc_R3;
    
    PP = calc_PP;
    
    S1 = calc_S1;
    
    S2 = calc_S2;
    
    S3 = calc_S3;

}

R1.SetDefaultColor(color.red);
R2.SetDefaultColor(color.red);
R3.SetDefaultColor(color.red);
S1.SetDefaultColor(color.green);
S2.SetDefaultColor(color.green);
S3.SetDefaultColor(color.green);

R1.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
R2.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
R3.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
S1.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
S2.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
S3.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);;

PP.DefineColor("Color", CreateColor(0, 102, 204));
PP.AssignValueColor(PP.color("Color"));
PP.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
Hope this helps...

Good Luck and Good Trading :)

 
Last edited:
S

soary

Member
@BenTen I've enhanced the Pivot Point Indicator by adding Daily Pivot Points, so now you can put Daily Pivots on a Hourly chart :) I would suggest a longer time period than 1 day...perhaps 10 or 20 days...



Rich (BB code):
# DailyWeeklyMonthlyPivots_TS
# http://thinkscripter.wordpress.com
# [email protected]
# Last Update 11 MAY 2019

input timeFrame = {DAY, default WEEK, MONTH};
input showOnlyToday = no;

def H = high(period = timeFrame)[1];
def L = low(period = timeFrame)[1];
def C = close(period = timeFrame)[1];

def calc_PP = (H + L + C) / 3;
def calc_R1 =  (2 * calc_PP) - L;
def calc_R2 = calc_PP + H - L;
def calc_R3 = H + 2 * (calc_PP - L);

def calc_S1 = (2 * calc_PP) - H;
def calc_S2 = calc_PP - H + L;
def calc_S3 = L - 2 * (H - calc_PP);

plot R3;
plot R2;
plot R1;
plot PP;
plot S1;
plot S2;
plot S3;

if (showOnlyToday and !IsNaN(close(period = timeFrame)[-1])) or
(getAggregationPeriod() > if timeframe == timeframe.DAY
                          then AggregationPeriod.DAY
                          else if timeframe == timeframe.WEEK
                               then AggregationPeriod.WEEK
                               else AggregationPeriod.MONTH)

then {

    R1 = Double.NaN;
   
    R2 = Double.NaN;
   
    R3 = Double.NaN;
   
    PP = Double.NaN;
   
    S1 = Double.NaN;
   
    S2 = Double.NaN;
   
    S3 = Double.NaN;
  
}
else {
   
  
R1 = calc_R1;
   
    R2 = calc_R2;
   
    R3 = calc_R3;
   
    PP = calc_PP;
   
    S1 = calc_S1;
   
    S2 = calc_S2;
   
    S3 = calc_S3;

}

R1.SetDefaultColor(color.red);
R2.SetDefaultColor(color.red);
R3.SetDefaultColor(color.red);
S1.SetDefaultColor(color.green);
S2.SetDefaultColor(color.green);
S3.SetDefaultColor(color.green);

R1.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
R2.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
R3.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
S1.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
S2.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
S3.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);;

PP.DefineColor("Color", CreateColor(0, 102, 204));
PP.AssignValueColor(PP.color("Color"));
PP.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
Hope this helps...

Good Luck and Good Trading :)


Thanks for the update to daily. You said, "I've enhanced the Pivot Point Indicator by adding Daily Pivot Points, so now you can put Daily Pivots on a Hourly chart :) I would suggest a longer time period than 1 day...perhaps 10 or 20 days... " How do you enter multiple days in the code?
 
netarchitech

netarchitech

Well-known member
VIP
@soary The pivot points are dependent on the default timeframes included in TOS. As a result, you are limited to the added daily timeframe. With that said, you could go into the code and add 2 days, 3 days, and 4 days, as these are also default timeframes. 10 and 20 days are beyond the scope of the script and TOS...

Now that I think about it...you could do 20 days if you select the supplied Monthly timeframe :cool:

Hope this helps...

Good Luck and Good Trading :)
 
S

soary

Member
@soary The pivot points are dependent on the default timeframes included in TOS. As a result, you are limited to the added daily timeframe. With that said, you could go into the code and add 2 days, 3 days, and 4 days, as these are also default timeframes. 10 and 20 days are beyond the scope of the script and TOS...

Now that I think about it...you could do 20 days if you select the supplied Monthly timeframe :cool:

Hope this helps...

Good Luck and Good Trading :)

thanks for the response I will try it
 
BenTen

BenTen

Administrative
Staff
VIP
@Bruce lee

Code:
# Plot previous week's close

input aggregationPeriod = AggregationPeriod.WEEK;

plot WeekClose = close(period = aggregationPeriod)[1];
 
D

dreamscape25

New member
Is it possible to convert this study into a scanner? In other words, when a stock is approaching these pivots (offset by 50 cents or so) you would get an alert?
 
B

Bruce lee

New member
How to do the CPR indicator. Central pivot range. Thanks (i think it's also there in trading view, but couldn't find in TOS.)
 
K

KamranN

New member
VIP
@BenTen i am using your pivot script and wanted to create a watchlist that indicates if the pivot has been crossed in the last 5,10, 15 min
i created 5 min watchlists columns for all pivots ( one column for R1 , one for S1 ). I wrote the code below but its not giving me any thing any ideas what can be wrong

def test = PivotbossPivot()."R1" ; <-- using the pivot calculation from your script )


plot signal = if close(period = AggregationPeriod.FIVE_MIN) crosses above test then 1
else if close(period = AggregationPeriod.FIVE_MIN)[1] crosses above test then 2
else if close(period = AggregationPeriod.FIVE_MIN)[3] crosses above test then 3
else 0;
AddLabel(1,if signal == 1 then "1-Buy" else if signal == 2 then "2-Buy" else if signal == 3 then "3-Buy"
else "2-Hold ", color.black);

AssignBackgroundColor(if signal ==1 then color.Dark_green
else if signal == 2 then color.green
else if signal == 3 then color.light_green
else color.black);
 
K

KamranN

New member
VIP
@BenTen @netarchitech here is the complete code..if you get a chance please let me know were am making a mistake (please note the watchlist column is on 5 min

Code:
input timeFrame = { default DAY, WEEK, MONTH};
input showOnlyToday = no;

def H = high(period = timeFrame)[1];
def L = low(period = timeFrame)[1];
def C = close(period = timeFrame)[1];

def calc_PP = (H + L + C) / 3;
def calc_BC = (H + L) / 2.0;
def calc_TC = (calc_PP - calc_BC) + calc_PP;
def calc_R1 =  (2 * calc_PP) - L;
def calc_R2 = calc_PP + H - L;
def calc_R3 = H + 2 * (calc_PP - L);

def calc_S1 = (2 * calc_PP) - H;
def calc_S2 = calc_PP - H + L;
def calc_S3 = L - 2 * (H - calc_PP);

plot R3;
plot R2;
plot R1;
plot TC;
plot PP;
plot BC;
plot S1;
plot S2;
plot S3;

if (showOnlyToday and !IsNaN(close(period = timeFrame)[-1])) or
(getAggregationPeriod() > if timeframe == timeframe.DAY
                          then AggregationPeriod.DAY
                          else if timeframe == timeframe.WEEK
                               then AggregationPeriod.WEEK
                               else AggregationPeriod.MONTH)

then {

    R1 = Double.NaN;

    R2 = Double.NaN;

    R3 = Double.NaN;

    TC = Double.NaN;

    BC = Double.NaN;

    PP = Double.NaN;

    S1 = Double.NaN;

    S2 = Double.NaN;

    S3 = Double.NaN;

}
else {


    R1 = calc_R1;

    R2 = calc_R2;

    R3 = calc_R3;

    TC = calc_TC;

    BC = calc_BC;

    PP = calc_PP;

    S1 = calc_S1;

    S2 = calc_S2;

    S3 = calc_S3;

}

R1.SetDefaultColor(color.red);
R2.SetDefaultColor(color.red);
R3.SetDefaultColor(color.red);
S1.SetDefaultColor(color.green);
S2.SetDefaultColor(color.green);
S3.SetDefaultColor(color.green);

R1.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
R2.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
R3.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
S1.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
S2.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
S3.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);;

PP.DefineColor("Color", CreateColor(155, 153, 255));
PP.AssignValueColor(PP.color("Color"));
PP.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);

TC.DefineColor("Color", CreateColor(51, 153, 255));
TC.AssignValueColor(TC.color("Color"));
TC.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);

BC.DefineColor("Color", CreateColor(51, 153, 255));
BC.AssignValueColor(BC.color("Color"));
BC.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
}

def test = PivotbossPivot()."S1" ;

plot signal = if close crosses above test then 1  else if close[1] crosses above  test then 2 else if close[3] crosses test then 3 else 0;


AddLabel(1,if signal == 1 then "1-Buy" else if signal == 2 then "2-Buy" else if signal == 3 then "3-Buy"
        else "2-Hold ", color.black);

AssignBackgroundColor(if signal ==1 then color.Dark_green
                      else if signal == 2 then color.green
                      else if signal == 3 then color.light_green
                      else color.black);
 
rad14733

rad14733

Well-known member
VIP
@KamranN Read the error messages at the bottom...

First, you had a closing "}" from a conditional statement well after the statement had ended... Then you are trying to call a Custom Thinkscript Study where only Licensed Thinkscript Studies are allowed... I went no further than that...
 
K

KamranN

New member
VIP
thanks @rad14733 really appreciate your help did not know we could only use Licensed Thinkscript Studies
 
J

Johnny Cash

Member
hey guys, is it possible to just show the last set of pivot lines for the last close and keep them off for all the past closes?
 
J

Johnny Cash

Member
Disregard, i found the way to do it.
Great job all for the awesome content that you provide the community.
thanks
 
A

Antares66

New member
Is there a way to add R4, S4, R5, S5? I am not very good in coding. The extended pivot lines are sometimes usefull
at stocks who go parabolic. Thanks.
 

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