Classic Pivot Point

Classic Pivot Point

If you are a professional trader, then you know about support and resistance lines.

These are important lines to show where the market price will be focused.

This is a useful tool which calculates these lines based on the classic method.

Features:

• The indicator draws Daily, Weekly and Monthly pivots.
• Calculates R1, R2, R3, S1, S2, S3 and Pivot lines.
• It is not related to timeframe and does not change when you change the timeframe.
• You can see any number of past days pivots.
• You can shift pivot starting point.
• Show or hide any data if you want.
• Customize any colors as you desire.

Settings:

• Pivot Time frame: Сan be Daily, Weekly or Monthly.
• Pivot Time Shift: Shifts pivot further in 30 minutes steps and can be maximum 11 hours. Example: If you choose 11 hours, pivots are drawn from 11:00 AM every day.
• Draw Previous Days Pivot: Number of past days to draw the pivots for. Example: 0 means drawing a pivot just for today. 2 means drawing a pivot for today, yesterday and the day before.
• Show Pivot Info: Show or hide the comments from top-left corner of the chart.
• Show Pivot Lines: Show or hide lines of pivot and resistances and supports.
• Show Mid-Points: Show or hide mid-points.
• Resistances: Pick a color for resistance lines.
• Pivot: Pick a color for a pivot line.
• Supports: Pick a color for support lines.
• Vertical Line: Pick a color for vertical line which shows starting a pivot.
• Mid-Points: Pick a color for mid-point lines.

* You can use these links to find out more about pivot types: link1, link2, link3.

** Note: for accurate drawing make sure you have updated charts in all timeframes.