Nearest Multi-Timeframe Pivot Points

This tool simultaneously processes pivot points (standard) calculated on different timeframes, and plots the nearest and the next-nearest ones with respect to the current price. The indicator can be used as a part of a trading strategy, for example, to select stop loss and target prices, identify potential support and resistance levels, etc. Optionally, it also gives signals when the price breaks one of the nearest levels.


Input Description

In the input, you can specify the type of pivot point. Available options:

• Traditional
  
• Fibonacci
  
• Woodie
  
• Classic
  
• DeMark
  
• Camarilla
  

Available timeframes (can be chosen simultaneously): 1Y, 1M, 1W, 1D.
Please note that data from timeframes equal to or lower than the timeframe of the chart will be omitted. For example, daily pivots will not appear on the daily chart.


Output Description

In the chart, labels contain information about the timeframe, for instance:
“DS1” denotes the first daily S level, S1;
"MR2" denotes the second the monthly R level;
"YP" corresponds to the yearly pivot point.

The labels corresponding to the next-nearest levels are shown in parentheses.


References

The pivot point calculations are based on the details provided here:
www.tradingview.com/...vot-points-standard/


Enjoy and feel free to leave your comments below!