Professional Pivot Points
This tool makes it possible to display the levels of support and resistance levels of the turn, as well as the levels of the opening day on the chart with a highly flexible settings.
Levels reversals - are important support and resistance levels that are calculated using the maximum price, and closing said minimum period (e.g., D1). With this indicator, you can choose from hours to a month timeframe for calculating pivot points.
There are many trading strategies using these levels, and to some extent they are important for this reason: they simply uses many traders!
Why "Professional Pivot Points"?
As mentioned earlier, the levels of the turning points are very important levels of support and soprotivleniya.els. But because each schedule reacts differently to identical signals are often extremely important to understand how each of these signals are represented, and how they can be used for trading.
Most other indicators of turning points simply do not provide the ability to display historical levels, although they can be critical to understanding the markets and thus to your trading success. This ability to view historical point can be crucial in finding the right strategy for all of the different characters that you use in trading.
Of course, every trader wants to view their schedules just as it is best suited for his personal taste. That is why the various parameters of personalization have been implemented in this indicator. Explanation for setting the parameters set out below, in the "Inputs".
In addition, you can easily display different levels with different timeframes in one chart, simultaneously running multiple copies of the program any number of times, each time with different settings timeframe (see screenshots). If the levels are different timeframes overlap, it indicates the presence of particularly strong support or resistance in the field.
Input parameters
- Pivot Point Method - Method of calculation pivot points (Standard, Woodie, Camarilla, Fibonacci and DeMark)
- Timeframe - timeframe for calculations (H1, H4, D1, W1, MN1).
- Time Shift - mapping the parameter to simulate turning points in different time zones. For example, if Time Shift = 1 turning points are displayed for the time zone on your 1 hour later.
- Save Object Resources - allows you to reduce the size of the history of (the number of levels on the graph) and thus reduce download time and resource consumption.
- Draw as Background - It allows you to draw a reversal levels in the background graphics, so as not to overlap the schedule itself.
- Exclude Weekend Data (Sunday) - if you live in a time zone in which the markets (forex) opened on Sunday, and have selected the time zone shift, this function prevents incorrect display of the turning points on Monday.
- Exclude Weekend Data (Saturday) - if you live in a time zone in which the markets (forex) opened on Saturday, or select Options shift time zone, this allows you to display the weekend turning point.
- Visible - turns display levels. This is useful if you want to quickly get a clear view graphs without having to remove the display and restart it soon thereafter.
- Show History - turns display historical levels on the graph.
- Show Mid Levels - turns display mean levels on the graph.
- Show Daily Open - display line daily opening levels on the graph.
- Only Show Daily Open - toggle the display of the daily opening levels on the graph.
- Current and Historical Level Width, Style and Color - width, style and color of the lines of current and historical levels.
note
- For added convenience, the point are only displayed if the timeframe charts of a shorter timeframe selected turning points. Daily opening levels will not be displayed if the timeframe chart is equal to or higher than D1.
The maximum size depends on the history of the number of available data on the selected timeframe.
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