Pivot Points in EasyLanguage — TradeStation & MultiCharts

Pivot Points in EasyLanguage means capturing the prior session’s high, low, and close, then plotting the levels for the current session. See the explainer for the formulas.

What you’ll need

• TradeStation or MultiCharts
• The EasyLanguage / PowerLanguage Editor, new Indicator
• An intraday chart

The source

{ AlgoGen Pivot Points — TradeStation / MultiCharts }
variables:
    PriorH( 0 ), PriorL( 0 ), PriorC( 0 ),
    P( 0 ), Rng( 0 ),
    intrabarpersist DayH( 0 ), intrabarpersist DayL( 0 );

{ Track the current session's high/low; snapshot them at the day roll }
if Date <> Date[1] then begin
    PriorH = DayH;
    PriorL = DayL;
    PriorC = Close[1];              { last close of the prior session }
    DayH = High;                    { reset trackers for the new day }
    DayL = Low;
end
else begin
    DayH = MaxList( DayH, High );
    DayL = MinList( DayL, Low );
end;

P   = ( PriorH + PriorL + PriorC ) / 3;
Rng = PriorH - PriorL;

if PriorH > 0 then begin
    Plot1( P,                   "P" );
    Plot2( 2 * P - PriorL,      "R1" );
    Plot3( 2 * P - PriorH,      "S1" );
    Plot4( P + Rng,             "R2" );
    Plot5( P - Rng,             "S2" );
    Plot6( PriorH + 2*(P - PriorL), "R3" );
    Plot7( PriorL - 2*(PriorH - P), "S3" );
end;

We track the running day high/low, snapshot them into PriorH/PriorL at the session roll (Date <> Date[1]), and compute the levels from that prior session — the horizontal lines from the output chart.

Gotchas

• Prior session, not current. The levels use the completed prior day; snapshot at the day roll rather than using the live bar.
• intrabarpersist. Keeps the running day high/low correct when the study runs on every tick, not just bar close.
• Session definition. Date <> Date[1] marks the calendar-day boundary; for markets with custom sessions, use the appropriate session logic.

Same indicator elsewhere: Python, MQL5, Pine Script, NinjaScript. Then backtest it in AlgoGen.

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This post is educational, not financial advice. Indicators describe the past; they don’t predict the future. Backtest anything before you risk real money on it.