Pivot Point Zones [JOAT]

Pivot Point Zones — Multi-Formula Pivot Levels with ATR Zones

Pivot Point Zones calculates and displays traditional pivot points with five formula options, enhanced with ATR-based zones around each level. This creates more practical trading zones that account for price noise around key levels—because price rarely reacts at exact mathematical levels.

What Makes This Indicator Unique

Unlike basic pivot point indicators, Pivot Point Zones:

• Offers five different pivot calculation formulas in one indicator
  
• Creates ATR-based zones around each level for realistic reaction areas
  
• Pulls data from higher timeframes automatically
  
• Displays clean labels with exact price values
  
• Provides a comprehensive dashboard with all levels
  

What This Indicator Does

• Calculates pivot points using Standard, Fibonacci, Camarilla, Woodie, and more formulas
  
• Draws horizontal lines at Pivot, R1-R3, and S1-S3 levels
  
• Creates ATR-based zones around each level for realistic price reaction areas
  
• Displays labels with exact price values
  
• Updates automatically based on higher timeframe closes
  
• Provides fills between zone boundaries for visual clarity
  

Pivot Formulas Explained

// Standard Pivot - Classic (H+L+C)/3 calculation
pp := (pivotHigh + pivotLow + pivotClose) / 3
r1 := 2 * pp - pivotLow
s1 := 2 * pp - pivotHigh
r2 := pp + pivotRange
s2 := pp - pivotRange

// Fibonacci Pivot - Uses Fib ratios for level spacing
r1 := pp + 0.382 * pivotRange
r2 := pp + 0.618 * pivotRange
r3 := pp + 1.0 * pivotRange

// Camarilla Pivot - Tighter levels for intraday
r1 := pivotClose + pivotRange * 1.1 / 12
r2 := pivotClose + pivotRange * 1.1 / 6
r3 := pivotClose + pivotRange * 1.1 / 4

// Woodie Pivot - Weights current close more heavily
pp := (pivotHigh + pivotLow + 2 * close) / 4

// TD Pivot - Conditional based on open/close relationship
x = pivotClose < pivotOpen ? pivotHigh + 2*pivotLow + pivotClose : 
    pivotClose > pivotOpen ? 2*pivotHigh + pivotLow + pivotClose : 
    pivotHigh + pivotLow + 2*pivotClose
pp := x / 4

Formula Characteristics

• Standard — Classic pivot calculation. Balanced levels, good for swing trading.
  
• Fibonacci — Uses 0.382, 0.618, and 1.0 ratios. Popular with Fibonacci traders.
  
• Camarilla — Tighter levels derived from range. Excellent for intraday mean-reversion.
  
• Woodie — Weights current close more heavily. More responsive to recent price action.
  
• TD — Conditional calculation based on open/close relationship. Adapts to bar type.
  

Zone System

Each pivot level includes an ATR-based zone that provides a more realistic area for potential price reactions:

// ATR-based zone width calculation
float atr = ta.atr(atrLength)
float zoneHalf = atr * zoneWidth / 2

// Zone boundaries around each level
zoneUpper = level + zoneHalf
zoneLower = level - zoneHalf

This accounts for market noise and helps avoid false breakout signals at exact level prices.

Visual Features

• Pivot Lines — Horizontal lines at each calculated level
  
• Zone Fills — Transparent fills between zone boundaries
  
• Level Labels — Labels showing level name and exact price (e.g., "PP 45123.50")
  
• Color Coding:
  - Yellow: Pivot Point (PP)
  - Red gradient: Resistance levels (R1, R2, R3) - darker = further from PP
  - Green gradient: Support levels (S1, S2, S3) - darker = further from PP
  

Color Scheme

• Pivot Color — Default: #FFEB3B (yellow) — Central pivot point
  
• Resistance Color — Default: #FF5252 (red) — R1, R2, R3 levels
  
• Support Color — Default: #4CAF50 (green) — S1, S2, S3 levels
  
• Zone Transparency — 85-90% transparent fills around levels
  

Dashboard Information

The on-chart table (bottom-right corner) displays:

• Selected pivot type (Standard, Fibonacci, etc.)
  
• R3, R2, R1 resistance levels with exact prices
  
• PP (Pivot Point) highlighted
  
• S1, S2, S3 support levels with exact prices
  

Inputs Overview

Pivot Settings:

• Pivot Type — Formula selection (Standard, Fibonacci, Camarilla, Woodie, TD)
  
• Pivot Timeframe — Higher timeframe for OHLC data (default: D = Daily)
  
• ATR Length — Period for zone width calculation (default: 14)
  
• Zone Width — ATR multiplier for zone size (default: 0.5)
  

Level Display:

• Show Pivot (P) — Toggle central pivot line
  
• Show R1/S1 — Toggle first resistance/support levels
  
• Show R2/S2 — Toggle second resistance/support levels
  
• Show R3/S3 — Toggle third resistance/support levels
  
• Show Zones — Toggle ATR-based zone fills
  
• Show Labels — Toggle price labels at each level
  

Visual Settings:

• Pivot/Resistance/Support Colors — Customizable color scheme
  
• Line Width — Thickness of level lines (default: 2)
  
• Extend Lines Right — Project lines forward on chart
  
• Show Dashboard — Toggle the information table
  

How to Use It

For Intraday Trading:

• Use Daily pivots on intraday charts (15m, 1H)
  
• Pivot point often acts as the day's "fair value" reference
  
• Camarilla levels work well for intraday mean-reversion
  
• R1/S1 are the most commonly tested levels
  

For Swing Trading:

• Use Weekly pivots on daily charts
  
• Standard or Fibonacci formulas work well
  
• R2/S2 and R3/S3 become more relevant
  
• Zone boundaries provide realistic entry/exit areas
  

For Support/Resistance:

• R levels above price act as resistance targets
  
• S levels below price act as support targets
  
• Zone boundaries are more realistic than exact lines
  
• Multiple formula confluence adds significance
  

Alerts Available

• DPZ Cross Above Pivot — Price crosses above central pivot
  
• DPZ Cross Below Pivot — Price crosses below central pivot
  
• DPZ Cross Above R1/R2 — Price breaks resistance levels
  
• DPZ Cross Below S1/S2 — Price breaks support levels
  

Best Practices

• Match pivot timeframe to your trading style (Daily for intraday, Weekly for swing)
  
• Use zones instead of exact levels for more realistic expectations
  
• Camarilla is best for mean-reversion; Standard/Fibonacci for breakouts
  
• Combine with other indicators for confirmation
  

— Made with passion by officialjackofalltrades