Weekly and Monthly Pivots Indicator for ThinkorSwim

BenTen

Administrative
Staff member
Staff
VIP
Lifetime
Here is an indicator that plot daily, weekly, and monthly pivot point along with some support and resistance lines on your ThinkorSwim chart.

rc8ioP9.png


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
 

Attachments

  • rc8ioP9.png
    rc8ioP9.png
    199.7 KB · Views: 194
Last edited by a moderator:

Join useThinkScript to post your question to a community of 21,000+ developers and traders.

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

 
Last edited:
@San This indicator only support weekly and monthly pivots point.

 
Last edited:
@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...

YFwmIGZ.png


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 :)

 

Attachments

  • YFwmIGZ.png
    YFwmIGZ.png
    82.1 KB · Views: 170
Last edited:
@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...

YFwmIGZ.png


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?
 

Attachments

  • YFwmIGZ.png
    YFwmIGZ.png
    82.1 KB · Views: 143
@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 :)
 
@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
 
@Bruce lee

Code:
# Plot previous week's close

input aggregationPeriod = AggregationPeriod.WEEK;

plot WeekClose = close(period = aggregationPeriod)[1];
 
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.)
 
@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);
 
@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);
 
@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...
 
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?
 
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.
 

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
365 Online
Create Post

Similar threads

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
Back
Top