Answers to Common Questions
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Question |
How can I draw historical daily Pivot Point levels/lines on my intraday chart? |
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Answer |
In order to do this, you'll need to use the Mixed
Periodicity Data (MPD) indicator. An MPD will need to be added
multiple times, once for each pivot level. For instance, in order
to add the historical R1 (1st Resistance) level, an MPD should be added
with the following preferences:
Notice that the "Mix Periodicity: Daily" option is turned on, and the indicator "PVPT: Pivot Point" is selected as the Data Source. A stepped blue line is chosen to represent the R1 level. Now click on the "Indicator Preferences" button to view the preferences for the Pivot Point indicator that will be used. These preferences should be setup as seen below:
Notice that the "Use Daily" option is NOT checked in this case (MPD is doing that work for us). This should force the Pivot Point indicator to instead compute historical daily pivot levels, and let MPD spread them out over the intraday data. Also notice that the ONLY level that is checked is the R1 checkbox. That's it. Assuming you daily data is complete, this combination should give you the historical R1 lines in your intraday chart. Now, you'll have to repeat this process for each of the levels that you want to display in your chart. The easiest way to do this would be to right-click on the historical R1 line you've already added to your chart, and choose "Duplicate". The line will be duplicated in a separate pane, and the MPD preferences will again popup to allow you to modify them. Again, click on the "Indicator Preferences" button and change R1 to R2. You'll also probably want to change the line colors in the MPD preferences to something like purple. After you've altered the preferences appropriately, you'll want to drag the drop the line from the lower pane to the main window pane. Continue to repeat this process for each level, and you should come with a chart looking something like the one below. This is a 5-minute chart of INTC with the daily pivot levels of PP (gray), R1 (blue), R2 (purple), S1 (red), and S2 (orange).
You can download and import the chart definition for the chart above (and save yourself some work) by right clicking on the link below and choosing "Save Target As" and saving the text file (chart definition) to your computer. Then, from within Investor/RT, choose "File: Import: Chart Definition" from the main menu, and then find the text file on your computer and the chart should result. Historical Pivot Point Chart Definition
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