Plotting Rounded Pivot Levels as Colored Price Zones

Summary

This indicator companion displays recent closed values from the Float_Pivot_Digit indicator using colored rectangles and background fills. It presents upper, middle, and lower price labels, with separate colors for the labels and for the upper resistance and lower support boxes. The stated purpose is to make calculated levels visible on a price chart.

Its settings let the user choose the calculation timeframe, bar number, extremum search period, applied price, rounding precision, and whether to show price labels. Rectangle duration and rightward offset are configurable as well. The document supplies settings but does not explain how the underlying pivot values are calculated, give sample chart readings, or report trading results. The companion also depends on the separate Float_Pivot_Digit indicator being installed, so this description alone is insufficient to reproduce the full calculation.

Key ideas

• The indicator draws colored zones using recent closed values from a separate pivot indicator.
• Upper, middle, and lower price labels can be shown with configurable colors.
• The calculation timeframe, extremum search period, applied price, and rounding precision are configurable.
• The underlying pivot method and its trading performance are not described.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.