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 resistance to further decline.
The main pivot point (PP) is the central pivot based on which all other pivot levels are calculated. The math behind the central Pivot Points is quite simple; we add 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 at the pub having a beer and receive an email or instant telegram message direct to your mobile phone.
IMPORTANT INFORMATION
The alerts will only occur with the middle pivot point and not the S1, S2, S3 or R1, R2, and R3 levels. If you are unsure please download the trial version first.
INDICATOR FEATURES
- Alerts when the symbol price is close to the main pivot price.
- Supports timeframes from 15 minutes to 1 month.
- 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 the 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 SMS service.
Watch a Video Demonstration
The video has been uploaded to 1080p High Quality, so do not forget to set your YouTube video quality to 1080p HD.
How To Install & Remove
First, make sure you have the cTrader trading platform installed and then unzip the file and double-click on it to automatically install it onto the platform.
Any Questions?
If you have any questions, please first search our product help forum for the answer, and if you cannot find it, post a new question.
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