Registered User Joined: 4/30/2015 Posts: 197
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DeMark Pivot Points
The formula used in the calculation of the Tom DeMark " Pivot Points" are:
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.
I HAVE A REFERRAL FOR TC2000 BUT HE IS ASKING ABOUT DEMARK INDICATORS
I FOUND THIS IN OLD POST - is this do able in tc2000 v17
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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The following assumes your calculations are correct and everyhing is for the current bar.
R1 would be:
IIF(C < O, H + L * 2 * C, IIF(C > O, H * 2 + L + C, H + L + C * 2)) / 2 - L
PP would be:
IIF(C < O, H + L * 2 * C, IIF(C > O, H * 2 + L + C, H + L + C * 2)) / 4
S1 would be:
IIF(C < O, H + L * 2 * C, IIF(C > O, H * 2 + L + C, H + L + C * 2)) / 2 - H
If things are based on the previous bar like more traditional pivot points, you would need to add 1 to all of the bars ago parameters.
R1 would be:
IIF(C1 < O1, H1 + L1 * 2 * C1, IIF(C1 > O1, H1 * 2 + L1 + C1, H1 + L1 + C1 * 2)) / 2 - L1
PP would be:
IIF(C1 < O1, H1 + L1 * 2 * C1, IIF(C1 > O1, H1 * 2 + L1 + C1, H1 + L1 + C1 * 2)) / 4
S1 would be:
IIF(C1 < O1, H1 + L1 * 2 * C1, IIF(C1 > O1, H1 * 2 + L1 + C1, H1 + L1 + C1 * 2)) / 2 - H1
TC2000 v17 even has a Last Value Horizontal Plot Style available in the Custom PCF Indicator which will plot the most recent calculated value as a horizontal line. But if you want to plot daily valiues on an intraday chart, there isn't a way to do so.
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 4/30/2015 Posts: 197
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ty
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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You're welcome.
-Bruce Personal Criteria Formulas TC2000 Support Articles
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