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# PIVOTDEM: DeMark Pivot Points
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| Property | Value |
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| ---------------- | -------------------------------- |
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| **Category** | Reversal |
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| **Inputs** | OHLCV bar (TBar) |
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| **Parameters** | None |
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| **Outputs** | Single series (PIVOTDEM) |
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| **Output range** | Varies (see docs) |
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| **Warmup** | `2` bars |
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### TL;DR
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- DeMark Pivot Points calculate three horizontal support and resistance levels from the previous bar's open, high, low, and close.
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- No configurable parameters; computation is stateless per bar.
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- Output range: Varies (see docs).
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- Requires `2` bars of warmup before first valid output (IsHot = true).
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- Validated against TA-Lib, Skender, and Tulip reference implementations where available.
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> "Most pivot formulas treat every bar the same. DeMark looked at the open-close relationship and asked: why would a bearish bar predict the same levels as a bullish one?"
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DeMark Pivot Points calculate three horizontal support and resistance levels from the previous bar's open, high, low, and close. The defining characteristic is a conditional intermediate value X that changes its weighting depending on whether the prior bar closed below, above, or equal to its open. Bearish bars weight the low; bullish bars weight the high; doji bars weight the close. Three levels (PP, R1, S1) emerge from this single conditional calculation. The only pivot variant that uses the open price.
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