This tool allows you to display the support and resistance levels of the reversal levels, as well as the daily open, weekly close and monthly close levels on the chart with high flexibility of adjustment.

Reversal levels are important support and resistance levels that are calculated using the high, low, and close prices of a specified period (for example, D1). With this indicator, you can choose from an hourly to a monthly timeframe for calculating pivot points.

There are many trading strategies that use these levels, and they are partly important for this reason: they are simply used by a lot of traders!

As mentioned earlier, pivot point levels are very important support and resistance levels. But since each chart responds differently to often identical signals, it is extremely important to understand how each one presents these signals, and how they can be used for trading.

Most other pivot point indicators simply do not provide the ability to display historical levels, although they can be critical for understanding the markets and thus for your success in trading, as well as in finding the most appropriate strategy.

Various personalization options have been implemented in this indicator to make it fit your requirements. An explanation of the configuration parameters is provided below, in the section “Input parameters”.

[spoiler title=”Read More…”]

You can easily display different levels from different timeframes and different types of pivot points on the same chart by running multiple copies of the program at the same time any number of times, each time with different settings (see screenshots). If the levels of different timeframes or different calculation methods overlap, this indicates that there is a particularly strong support or resistance in this area.

• Pivot Point Method-method for calculating pivot points (Standard, Woodie, Camarilla, Fibonacci, and DeMark)
• Timeframe – timeframe for calculations (H1, H4, D1, W1, MN1).
• Time Shift-the parameter allows you to simulate the display of pivot points in different time zones. For example, if Time Shift = 1, the pivot points will be shown for the time zone 1 hour later than yours.
• Save Object Resources-the function allows you to reduce the size of the history (the number of levels on the graph) and thereby reduce the loading time and resource consumption.
• Draw as Background – allows you to draw reversal levels in the background of the chart, so as not to overlap the chart itself.
• Exclude Weekend Data (Sunday) – if you live in the time zone in which the markets (forex) open on Sunday, or have selected the time zone shift function, this function will prevent incorrect display of pivot points on Monday.
• Exclude Weekend Data (Saturday) – if you live in the time zone in which the markets (forex) open on Saturday, or have selected the time zone shift function, this function allows you to display the pivot points on the weekend.
• Visible-display the U-turn levels.
• Show History-display the historical levels of reversals on the chart.
• Show Mid Levels-display the average levels of reversals on the chart.
• Show Daily Open / Weekly Close / Monthly Close-display lines of daily opening levels / weekly closing levels / monthly closing levels on the chart.
• Only Show Daily Open / Weekly Close / Monthly Close-enable displaying only daily opening levels / weekly closing levels / monthly closing levels on the chart. This function allows you to do this.
• Pivot Data Timeframe – if the levels are displayed incorrectly, you can specify the timeframe for calculating the pivot points here. Sometimes the data of a single timeframe may be incomplete.
• Current and Historical Level Width, Style and Color-adjust the width, style and color of the lines of the current and historical levels.

• To get an idea of how the product works, you can download “Easy Daily Open” for free: It uses basically the same algorithms and is limited only to the Daily Open feature.
• If you have any problems with the program, write us a message so that we can solve it.

[/spoiler]