Request to add Central Pivot Range to Pivot Point indicator.

[Jason]

I'd like to ask that the CPR be added to the pivot point indicator as described and discussed here:

https://pivotboss.com/2010/05/31/a-quick-guide-to-the-pivot-range/

calculated like this:

TC = (Pivot – BC) + Pivot

Pivot = (High + Low + Close)/3

BC = (High + Low)/2

Also, more generally, how can I get a paintbar to display/draw a horizontal line across a chart?

Thank you.

[Mike Medved]

CPR is its own indicator, right?

[Jason]

No, it's a derivative of the Pivot Point system and it's usually used in conjunction with them. What I would like to see is the option to enable the CPR within the parameters of the Pivot Point indicator already provided in MT preferably with some line options (dashed lines, solid lines, dots, etc. ) and color options.

[Mike Medved]

Well. You know how there is R1, S1, R2, S2....

There could also be TC and BC?

[Mike Medved]

As for paintbar drawing a line on the chart - SetYValue sets a point on the chart for each candle, and there is a line drawn through these points.

[Jason]

Yes, typically I see them referred to that way as the top and bottom central pivots.

[Mike Medved]

Jason, what I mean is adding the TC and BC option to all pivot indicators, same as they today have R1, S1 etc. Is that a good way of doing this?

[ehjump]

The CPR is a stand-alone indicator just like the other pivot point class of indicators e.g. the classical floor pivot points, Fibonacci pivot points, etc.

[Mike Medved]

Well... I really didn't want to add another Pivot indicator. So I added TC and BC to Pivot Points. Will be in next beta.

[Jason]

Per ehjump, I suppose some would use it as a stand alone indicator but I have not encountered this and it makes little sense to me to use it, as defined above, outside of the context of the traditional Pivot Points indicator. As shown above, CPR should be used only for Pivot Points as Fibonacci pivots, Camarilla pivots, DeMark pivots, etc. are all calculated using their own specialized formulas and even though I don't have experience with those variations of the pivot point system I would expect any CPR used with them to have a different formula as well.

Thanks for adding this and for the tip about SetYValue.

[Jason]

I saw the new beta was released. This CPR addition didn't make it then?

[Mike Medved]

Pivot Points now have TC and BC lines that can be shown.

[Jason]

Okay, thanks for adding it. Hadn't seen it in the Beta release notes and hadn't updated yet.

[ehjump]

On 10/13/2019 at 7:33 PM, Mike Medved said:

As for paintbar drawing a line on the chart - SetYValue sets a point on the chart for each candle, and there is a line drawn through these points.

Is there a way to set the absolute value for horizontal lines using the advanced paintbar codes?

That is, use PB to calculate a value for the day or period and use it to draw a new horizontal line for the period. Inputs for the calculation could be other existing horizontal line indicators or pivot points on the chart and hopefully we can set the thickness & color of the new horizontal line too

[Mike Medved]

ehjump - sure. Calc the value in the advanced paintbar code and do a named SetColor and SetYValue for it. Then, in the paintbar, choose the "fill" shape for it and whatever color you like.