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DaveSkender / Stock.Indicators

Stock Indicators for .NET is a C# NuGet package that transforms raw equity, commodity, forex, or cryptocurrency financial market price quotes into technical indicators and trading insights. You'll need this essential data in the investment tools that you're building for algorithmic trading, technical analysis, machine learning, or visual charting.
https://dotnet.StockIndicators.dev
Apache License 2.0
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Add S5 pivot to PivotPoints #815

Open codebeaulieu opened 2 years ago

codebeaulieu commented 2 years ago

Would it be possible to add an S5/R5 pivot like trading view has?

Screen Shot 2022-05-24 at 4 03 29 PM
DaveSkender commented 2 years ago

Different variants of Pivot Points have different quantities of support and resistance lines. Are you referring to the standard floor trading model?

burakoner commented 2 years ago

I'm attaching my old PP calculation methods. I hope it will help you about formulas PivotPoints.zip .

DaveSkender commented 2 years ago

Thank you very much. As I said PP is only one reason to access those tools. I saw #815 issue. I'ii share my old PP formula codes on that issue. I hope they will help you.

I generally don’t use third party code as a source of truth. Do you have a written publication source from a recognized industry pro, like a book?

DaveSkender commented 2 years ago

According to wikipedia:

Commonly a third set is also calculated, again representing another higher resistance level (R3) and a yet lower support level (S3). The method of the second set is continued by doubling the range added and subtracted from the pivot point:

R3 = H + 2×(P − L) = R1 + (H − L) S3 = L − 2×(H − P) = S1 − (H − L)

This concept is sometimes, albeit rarely, extended to a fourth set in which the tripled value of the trading range is used in the calculation.

I'm not exactly sure what that means yet but will need to get to a formula for these extra levels that is unopinionated and non-controversial.