J.F. Carter Pivot Levels from the Prior Price Range
Summary
This document describes a daily pivot indicator attributed to J.F. Carter’s trading formula. It calculates a central pivot from the bar’s high, low, and close, then derives three resistance levels and three support levels using the pivot and the high-low range. The displayed labels are placed at the start of each day, and their colors can be configured.
The document supplies the formulas and an implementation example, but it does not explain how to trade around the levels or provide performance tests. It also does not specify the market, bar interval, or other settings needed to assess how the levels behave in different contexts. The method is therefore a reference for calculating and displaying price levels, not evidence of a profitable strategy.
Key ideas
- The central pivot is calculated from the high, low, and close.
- Three resistance levels and three support levels are derived from the pivot and the high-low range.
- The indicator marks the levels from the start of each day and allows color customization.
- No trading rules or performance evidence are provided.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.