What Is a Pivot Point?
Pivot Points are significant support and resistance levels that can be used to determine potential trades. The pivot points come as a technical analysis indicator calculated using a financial instrument’s high, low and close value.
A pivot point and the associated support and resistance levels are often turning points for the direction of price movement in a market. In an up-trending market, the pivot point and the resistance levels may represent a ceiling level in the price above which the uptrend is no longer sustainable and a reversal may occur. In a declining market, a pivot point and the support levels may represent a low price level of stability or a resistance to further decline.
The main pivot point (PP) is the central pivots based on which all other pivot levels are calculated. The math behind the central Pivot Points is quite simple; we add the yesterday’s high, low and close and then divide that by 3, which is a simple average of the high, low and close.
** IF YOU SEE TWO SETS OF PIVOT LEVELS IT WILL BE THE LAST 2 DAYS OF DAILY PIVOTS **
Why Is This Indicator Special?
The reason this indicator is far better than the other standard pivot point indicators available is that you can now be informed when the symbol price is getting close to the daily or monthly pivot price, this usually means a strong support or resistance level. Now you can either be looking at other charts and get a pop-up message or you can be down the pub having a beer and receive an email or instant telegram message direct to your mobile phone.
- Alerts when the symbol price is close to the main pivot price
- All 6 support and resistance levels show pip distance
- status shows the current spread
- status shows the number of pips until the price reaches the main pivot point.
- Windows pop-up, email and instant Telegram alert message
- Re-arm feature which pauses alerts system for x minutes after an event
- Daily & Monthly pivot levels
- Configure how many pips from pivot you want the alert set
- Works on any symbol and all charts
- Reduced chart clutter, by only showing previous daily pivots
How to Set-Up the Telegram Service
Install the Telegram App on your mobile phone and receive free instant messages, you no longer need to pay using an SMS service.
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