Enhanced Pivot Point Indicator for TradeStation

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2 Enhanced Pivot Point Indicator for TradeStation PZT POWER PIVOTS are used to display 14 key levels that are projected as a series of horizontal lines on the price chart along with accompanying text. Originally calculated by floor traders and market makers at the exchanges, pivots can provide significant support and resistance levels. Since E-minis trade during multiple session times, these custom pivots points are calculated by determining an overall high, low and closing price from two separate trading sessions. In addition, the previous day s high, low, open and closing prices can be displayed as horizontal lines and as text. This indicator will not resize or otherwise interfere with the normal scaling of a price chart. Descriptions of the first seven pivot levels are listed below: 2

3 These pivots are designed to adjust to the intraday market sessions that are specific to the E-mini stock index futures exchanges. In addition, there are a variety of display options including the ability to display an Analysis Commentary window for all of the pivot point and previous day s levels. Using the view menu and choosing Analysis Commentary enables this feature. Text can be displayed or turned off to provide cleaner charts. In addition, the previous day s high, low, open, and closing prices may also be viewed or turned off. Optional Analysis Commentary Window Indicator Setup This indicator should only be used with intraday charts with the session time customized to: Use custom sessions: 24 Hour template. This allows the indicator to have enough data to calculate the specific session intervals. Symbol Formatting for Power Pivot Calculations 3

4 Settings The input variables for PZT POWER PIVOTS are as follows: Name Value Description EminiStartTime 1601 Starting time for exchange pivot calculations CalcMethod 1 PP calculation: 1-standard, 2-globex calculation Decimals 1 How many decimals to use in text display ShowText true Display the text value for each pivot level PivotLineColor yellow Color of Pivot level lines (R1, S1, R2...etc) PivotStyle Tool_solid Line style for Pivot levels PPLineColor red Color of Pivot Point line PPStyle Tool_dotted Line style for Pivot Point line PrevLineColor white Color of previous day's OHLC PrevStyle Tool_dotted Line style for previous day's OHLC NumDays 3 Number of days to display indicator history PreviousOHLC true Display previous day's OHLC Tips for using PZT Indicators Double right click on any chart to enlarge it to full screen. Double right click a second time to return to the original workspace formatting. Single right click while the cursor is over an indicator and select format to quickly change the inputs for that indicator. Set pointer tracking to workspace [Drawing Menu Pointer Tracking Workspace] to allow the cursor to automatically go to the same spot on all charts within in a workspace. In each intraday workspace, charts may be linked to the quote screen by left clicking on the colored tab on the top right edge of the window and choosing a symbol link color. This allows all charts to change to the highlighted instrument in the quote window. 4

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