Pivot Point Chart
Author: dankimel
Creation Date: 6/20/2010 12:32 PM
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dankimel

#1
I'm using the Pivot Point Chart script described as "/* Demo to duplicate Non-tradeable Pivot Point annotations in AT Pro */."

This produces a very useful chart within Wealth-Lab Pro which duplicates the indicator found on Active Trader Pro.

However, when the Pivot Point High occurs when the bar is the highest bar on the chart, the red arrow is not visible. This, of course, greatly reduces the usefulness of the chart.

Anyone know how to fix this problem?
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Cone

#2
The easy way is to just change the High and Low arrows to be plotted below and above the bars, respectively.

Just curious, how is this chart useful to your trading anyway? You can see all of these points in hindsight anyway. There is absolutely no predictive power of plotting these arrows in hindsight.
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dankimel

#3
Thanks, your suggestion worked.

As to how it's useful, I use it in daytrading, together with rsi, volume, highest, and lowest indcators to give me an idea of the trend direction of the stock, areas of consolidation which may lead to a breakout (one pattern is a series of flat pivot point highs and lows with rising rsi), and trend reversals (often I get in on the first correction after a reversal).