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DeMarker Pivots indicator fix

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Hi,
I am currently using the DeMarker_Pivots indicator to do some manual back testing, however in some instances the pivots skew and  do not overlay on the price correctly. They sometimes appear on top and or below all price action. This is an incorrect representation of DeMarker pivots.
Could someone please review the source code and make the appropriate fix to correct this problem.

Greatly appreciated.

Regards
Eric


Linkback: https://www.forex.zone/indicator-modifications/16/demarker-pivots-indicator-fix/2564/
#1 - September 18, 2019, 01:41:41 AM
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« Last Edit: September 24, 2019, 10:35:17 PM by Admin »

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I will look into this soon. I think a functional Demarker Pivots indicator would be great for the forum.
#2 - September 18, 2019, 10:03:56 AM

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Do you agree with the below Demark Pivot Points formula? It was taken from StockCharts.com


If Close < Open, then X = High + (2 x Low) + Close

If Close > Open, then X = (2 x High) + Low + Close

If Close = Open, then X = High + Low + (2 x Close)

Pivot Point (P) = X/4

Support 1 (S1) = X/2 - High

Resistance 1 (R1) = X/2 - Low



The indicator you provided shows 2 S/R levels each. Which does not look to be official Demark Pivots.
#3 - September 19, 2019, 11:09:03 AM

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They sometimes appear on top and or below all price action. This is an incorrect representation of DeMarker pivots.
I have seen the indicator do this too, but I think it's because it's not coded for the official Demark Pivot calculations. It needs totally changed.


The daily close is below open, so this formula for 'X' applies:

If Close < Open, then X = High + (2 x Low) + Close

So X = 10206.50 + (2 X 9597.50) + 9853.50

So X = 39255


Pivot Point (P) = 39255/4 ---> 9813.75

Support 1 (S1) = 39255/2 - 10206.50 ---> 9421

Resistance 1 (R1) = 39255/2 - 9597.50 ---> 10030


So there should be a support line below current price, but there is not. All lines are above current price of 9853.50.

#4 - September 19, 2019, 11:44:00 AM
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Yes the calculations that you have indicated are correct, Tom DeMark Pivot Points.

Thanks
#5 - September 19, 2019, 10:03:03 PM

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Yes the calculations that you have indicated are correct, Tom DeMark Pivot Points.
Okay, I will make a new indicator using the official Time DeMark Pivot calculations I mentioned. Please be patient.
#6 - September 20, 2019, 12:12:30 AM

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I will have this indicator done later today. Sorry about the delay.
#7 - September 24, 2019, 02:18:15 PM

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Here is the new indicator called DeMark Pivot Points Indicator

I am also including it and any future updates in the 1st post for easy reference.

It seems to work fine, but feel free to let me know what you think.
#8 - September 24, 2019, 10:34:56 PM
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Hello,
the indicator is still printing incorrectly.
Place the indicator on a 1Hr chart and scroll back, you will see it print below and above all price action.

Appreciate your efforts. 

Thks
#9 - September 25, 2019, 03:06:36 AM

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Hello,
the indicator is still printing incorrectly.
Place the indicator on a 1Hr chart and scroll back, you will see it print below and above all price action.

Appreciate your efforts.

Thks


Please can you attach a screenshot so we can see and learn what you're explaining. 

Cheers.
#10 - September 25, 2019, 08:23:59 AM

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Hello,
the indicator is still printing incorrectly.
Place the indicator on a 1Hr chart and scroll back, you will see it print below and above all price action.
Can you attach a screenshot of the problem? It seems to work fine for me.

Also, you realize that the pivot calculations are based on the previous day's Daily candle information, right? And if you run the indicator on let's say the H1, there may be a series of H1 candles that are all above or below the 3 lines. So just because price exceeds the 3 lines does not necessarily mean there is a problem. Maybe I'm not understanding what you mean, but that's why a screenshot would be helpful.
#11 - September 25, 2019, 10:47:50 AM

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