Showing posts with label pivot levels. Show all posts
Showing posts with label pivot levels. Show all posts

Wednesday, 1 January 2014

Amibroker AFL for Daily, Weekly and Montly Pivot levels


Today I am posting a small but very essential Amibroker AFL. By deploying this Amibroker AFL utility, the user can get sufficient knowledge of Daily, Weekly and Monthly Pivot. The calculations are based upon standard classic pivot levels. A monthly pivot normally gives us a vision of what the trend is all about. A weekly pivot shows us the market behavior in the last week. The day pivot gives us some information of the current trend. When we anticipate a trend, it will be helpful how the stock behaved itself in the weekly and monthly mode. Price movements do follow the pivot levels in most of the trading period, which is why pivot levels are important to a trader as a tool of technical analysis.