PlotText(” Pivot “, LastValue(BarIndex())-(numbars/Hts), pI, colorBlue) Plot(fs3,”S3″,colorPaleGreen,styleDots|styleNoLine|styleNoRescale) Plot(fs2,”S2″,colorLime,styleDots|styleNoLine|styleNoRescale) Plot(fs1,”S1″,colorGreen,styleDots|styleNoLine|styleNoRescale) Plot(fr2,”R2″,colorPink,styleDots|styleNoLine|styleNoRescale) Plot(fr1,”R1″,colorRed,styleDots|styleNoLine|styleNoRescale)
Plot(p,”Pivot”,colorBlue,styleDots|styleNoLine|styleNoRescale) Numbars = LastValue(Cum(Status(“barvisible”))) DayO = TimeFrameGetPrice(“O”, inDaily) // current day open
#Tsk pivot in exploration afl Pc
PC = Da圜 = TimeFrameGetPrice(“C”, inDaily, -1) // yesterdays close PL = DayL = TimeFrameGetPrice(“L”, inDaily, -1) DayLI = LastValue (DayL,1) // yesterdays low PH = DayH = TimeFrameGetPrice(“H”, inDaily, -1) DayHI = LastValue (DayH,1) // yesterdays high We will be using Daily Timeframe data to arrive at the various Fibonacci Levels. The Amibroker AFL script provided below will plot all the 6 Fibonacci Retracement levels in the chart. Likewise 62% and 99% Fibonacci Retracement Levels are very crucial as well and it can act as support/resistance and can be used for trading pullbacks and reversals. In downtrends, traders look to sell near the 38% Fibonacci Retracement level (sell on rallies). In uptrends, traders should look to buy near the 38% Fibonacci Retracement level (buy on dips). You can use the pivot levels to trade reversals or break-outs and Fibonacci retracements to buy dips in uptrends and sell rallies in downtrends. The pivot levels are based on the daily trading range and plotted at 38%, 62% and 99%. This indicator plots Fibonacci pivots points on an intraday chart.
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