Pivot Candles

The indicator is designed to determine the pivot level for a group of candlesticks and the trend direction.

• no repainting
• calculation is done on an active candle
• if candlesticks are above the main line, the trend is upward
• if candlesticks are below the main line, the trend is downward
• breakdown of the main line signals a trend change or a price rebound
• two display modes, normal and with acceleration (ModeLite)
• an auxiliary line displays the resistance line

Configurations

• BarsHistory - how many bars to use to display the indicator.
• ModeLite - indicator display mode with acceleration in long trends.
• Resistanceline - displays a line where the price meets resistance.

* true - on, false - off.