A description of pivots based on the Camarilla equation can be obtained by searching via google or your favorite search engine so I won't provide that here.
This indicator displays the pivots based on a calculation of the yesterday's High, Low, and Close. However, this seems to me to be ok for Tuesday through Friday but when Monday's pivots are based on Sunday's data then I think you should change the DailyHiLo parameter to false and enter Friday's High, Low, and Close. You can also set the DailyHiLo parameter to false as well if you want to base today's pivots on the market hours of the instrument you are trading.
There are labels on the right side for each level. Suggest you set your right margin to at least 40 in order to see the labels.
I have no idea if these pivots are significant or not. I saw a post from a new member of this forum who said they make money using them which motivated me to find out what they are. This indicator is a result of the research I've done trying to find out what Camarilla pivots are. Use them in good health.
A signal to noise ratio. Returns the total delta for the period divided by the sum of each individual period's delta. Does not iterate, so can reasonably be used with CalculateOnBarClose == false. Might be known by other names, documented as 'Efficiency' in 'Smarter Trading' by Perry J. Kaufman. Version 1.0.
Returns the Pearson product-moment correlation coefficient of the input series. This requires iteration, so should probably be used with CalculateOnBarClose == true.
Version 2 - Solves a /0 error, returns 0 if price is unchanged for all of the bars in the calculation.
July 4th, 2010
Size: 2.52 KB
Downloaded: 211 times
529
fluxsmith
Maximum value seen in period. Should return the same values as the standard MAX, which as of b18 has been fixed to reduce iteration. With that fixed the only advantage this has over the standard is memory reduction when used as a component and not displayed. (Both versions are now efficient with CalculateOnBarClose == false.)
Version 2 - Corrected calculation errors when COBC == false && Input != High
July 4th, 2010
Size: 2.31 KB
Downloaded: 278 times
527
fluxsmith
Minimum value seen in period. Should return the same values as the standard MIN, which as of b18 has been fixed to reduce iteration. With that fixed the only advantage this has over the standard is memory reduction when used as a component and not displayed. (Both versions are now efficient with CalculateOnBarClose == false.)
Version 2 - Corrected calculation errors when COBC == false && Input != Low
R-Squared, Coefficient of Determination, the square of the Correlation Coefficient. This should return the same values as the standard supplied RSquared. Unfortunately both versions always iterate, so should probably be used with CalculateOnBarClose == true.
I believe my version to be slightly more CPU efficient, as it does not require a square root calculation used in the distribution version.
Version 1.0.