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Open Feature request MC-1952

We need Weekly and Monthly Pivot Point Indicator
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3
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Description

Hello,
It will be very useful especially in forex trading if we have the weekly and monthly pivot point indicators in addition to the available floor pivots indicator which is only a daily pivot point indicator.
Price reaction at weekly and monthly pivot points cannot be ignored and Multicharts will be richer with the introduction of these indicators and help traders in their trading.
Thanks and look forward to this. Lets make Multicharts the best ever trading platform.
Best Regards

Steps to reproduce this issue

There is no issue but this is only a feature request.

Comments (3)
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#0
user-offline.png ProMindForex (trademarketsglobal)
Jul 02, 2016 - 08:51

Please do add the midpoints study to the weekly and monthly pivot point indicator.

#1
user-offline.png ProMindForex (trademarketsglobal)
Feb 23, 2019 - 14:54

You may consider the below pivot points formula if you need one.
The pivot point indicator to include the pivot midpoints also:

Resistance 3 = High + 2 * (Pivot - Low)
Midpoint M5 = (Resistance 3 + Resistance 2) / 2
Resistance 2 = Pivot +(R1 - S1)
Midpoint M4 = (Resistance 2 + Resistance 1) / 2
Resistance 1 = 2 * (Pivot - Low)
Midpoint M3 = (Resistance 1 + Pivot Point) / 2
Pivot Point = (High + Close + Low) / 3
Midpoint M2 = (Pivot Point + Support 1) / 2
Support 1 = 2 * Pivot Point - High
Midpoint M1 = (Support 1 + Support 2) / 2
Support 2 = Pivot - (Resistance 1 - Support 1)
Midpoint M0 = (Support 2 + Support 3) / 2
Support 3 = Low - 2 * (High - Pivot Point)

#2
user-offline.png ProMindForex (trademarketsglobal)
Dec 23, 2019 - 15:43

I request everyone to vote for this request as it will benefit the trading community using Multicharts.

History
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Issue basics
  • Type of issue
    Feature request
  • Category
    Usability
  • Targeted for
    Not determined
  • Status
    Under Review
User pain
  • Type of bug
    Not triaged
  • Likelihood
    Not triaged
  • Effect
    Not triaged
Affected by this issue (2)
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Issue details
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  • Severity
    Normal
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