The indicator automatically draws important Pivot Levels using the most popular approaches:
Usage of Pivot Points
The very essence of trading with Pivot Points is based on the idea that the price tends to reach yesterday’s close point much more often than to overcome the previous day range. That’s why the most popular calculation period for Pivot Points is Daily.
In that context, all Pivot levels play the role of support and resistance. While analyzing the chart, we can see multiple price interactions with these levels. Also, one of the advantages of the Pivot indicator is its popularity, as the more traders use the same tool, the more likely the price will interact with it.
1.1.3 (July 29, 2020) - Added: additional levels for DeMark calculation method 1.1.2 (July 28, 2020) - Added: classical calculation method - Fixed: lines not drawing on last bar for H4 period 1.1.1 (July 28, 2020) - Added: H4 calculation period 1.1.0 (July 19, 2020) - Added: DeMark calculation method - Added: option to set the depth of pivot levels - Added: period separator - Improved: labels appearance and configuration 1.0.0 (July 15, 2020) - Released