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DEMARK PIVOT POINT


mca12345
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Hello, it is possible to add to the demarks pivot formula the central pivot?

The value of X in the formula below depends on where the Close of the market is.
If Close < Open then X = (H + (L * 2) + C)

If Close > Open then X = ((H * 2) + L + C)

If Close = Open then X = (H + L + (C * 2))

R1 = X / 2 - L
PP = X / 4 (this is not an official DeMark number but merely a reference point based on the calculation of X)
S1 = X / 2 - H

Where R1 is the upper Resistance level, PP is the Pivot Point, S1 is the lower support level.

 

thanks

Mariano

 

Edited by mca12345
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