QuantPivots
TOS
Trading View
Labels
Pivots are not a function of the label data, the label data is a function of the averaging and analysis periods settings and the amount of historical data loaded on the chart. Each label is explained below.
Weekly Periods Analyzed:
Number of total periods loaded and analyzed on the chart.
Touch > H1:
Pivot level average price exceed or was equal to, but did not closed above.
In this case, price touched the H1 level 60 out of 166 times or 36.1% of the time.
Close > H1
How many times price closed above the H1 pivot level.
In this case price closed 37 times above H1 or 22.3% of the time.
Touch > H2:
Pivot level one standard deviation above H1.
Price exceed or was equal to, but did not closed above.
In this case, price touched the H2 level 29 out of 166 times or 17.5% of the time.
Close > H2
How many times price closed above the H2 pivot level.
Touch > L1:
Pivot level average price exceed or was equal to, but did not closed below.
In this case, price touched the L1 level 57 out of 166 times or 34.3% of the time.
Close > L1
How many times price closed below the L1 pivot level.
In this case price closed 24 times below L1 or 14.5% of the time.
Touch > L2:
Pivot level one standard deviation below L1.
Price exceed or was equal to, but did not closed below.
In this case, price touched the L2 level 21 out of 166 times or 12.7% of the time.
Close > L2
How many times price closed below the L2 pivot level.
Total Closes Inside H1 / L1 and H2 / L2:
Total number of times with in the periods analyzed that there were closes within H1 / L1 and H2 / L2 respectively.
Pivots
Pivot lines are a function of the analysis and averaging period inputs.
H1 represents the average point which the highest price is achieved for the selected time period (analysis period).
L1 represents the average point which the lowest price is achieved for the selected time period (analysis period).
H2/L2 = One standard deviation away from the inner high H1 or low L1 bands.
Analysis period:
Determines what time frame the study is reading from.
Averaging period:
Determines the total number of periods prior to the current period included in the pivot calculations in which the pivot lines are calculated.
For example, if the analysis period is set to week, and the averaging period is set to 30, then Quant will analyze 30 weeks of data.
Show next period projections:
Default is set to No. When set to Yes, next period's projected levels will show.
Historical Data
The amount of historical data loaded on the chart matters and will affect the information the labels display because Quant analyzes the total amount of user defined historical data loaded on the chart. The pivot lines themselves will remain unchanged.
Max data or analyzing insufficient data may cause a Calculation Error message.
For example, in the below image, the right side chart is set to the maximum amount of data loaded on a daily chart. The QuantPivots tool is attempting to analyze an over-abundance of historical data and produces an error message. The left side chart is set to load 3 years of daily candles.
Other Settings
If the analysis period setting is set to an intraday time frame, the chart must be set to an equal or lower time frame for the pivots to display.
The show all periods drop down setting when set to No, only works with analysis period set to Day or higher. In other words, if Show all periods is set to No and the analysis period setting is set to an intraday time frame, then all pivots will continue to show. Setting the analysis period to Day or higher and show all periods is set to No, only the current pivots will show.
Standard deviation settings may also be adjusted for H2 and L2.
About - Quant Pivots