Traders' Tips  |  MAR 2000

Traders' Tips

Here is this month’s selection of Traders’Tips, contributed by various developers of technical analysis software to help readers more easily implement some of the strategies presented. Internet users will also find these and some previous Traders’ Tips on our home page at http://www.Traders.com. OMEGA RESEARCH EASYLANGUAGE In this month’s EasyLanguage tip, I’ll focus on the article ""Pivot Points"" by Jayanthi Gopalakrishan, which was published in the February 2000 STOCKS &COMMODITIES. Here, I’ll present an EasyLanguage function and two EasyLanguage indicators to calculate and plot the variations of the pivot point values. First, I have written a user function, which allows you to calculate the pivot point value using any of the three methods described in the article. Next, I have created two indicators for plotting the related pivot point values. The name of the user function is PivotPoint. This user function will calculate the pivot point values. It will also allow the user to easily specify the method that will be used to calculate the pivot points. The ""method"" input is used to determine how the pivot points will be calculated (1= traditional;2 =variation 1;3 =variation 2). The EasyLanguage for the user function is thus:

by Technical Analysis, Inc.