on the lookout for a high-quality pivot point index? So, PZ Pivot Points is what you need!
- It assembles levels not only for the current day. It assembles historical levels for performing history testing
- You pick the time yourself
- Colors and sizes are customizable
Pivot point evaluation is often utilized along with the calculation of resistance and support levels, as is the case with fashion line analysis. When analyzing pivot points, the initial support and resistance levels are calculated with the breadth of the trading range between the pivot point and the maximum or minimum price for the previous day. The second support and resistance levels are calculated using the entire width between the maximum and minimum price for the previous day.
The only functional parameter of the indicator is the choice of the timeframe from which the pivot points are calculated.
Arturo López pérez, private investor and speculator, software engineer and founder of Point Zero Trading Solutions.