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    Pivot Points
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      Pivot Points

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        Article summary

        Pivot Points are support and resistance levels used to determine overall trend over daily, weekly, or monthly aggregation periods. Pivot Points comprise a base level, which is called Pivot Point (PP), and three resistance and support levels above and below PP. The levels use the following calculations:

        • Resistance Level 3 = Previous Day High +2(Pivot - Previous Day Low)
        • Resistance Level 2 = Pivot + (Resistance Level 1 - Support Level 1)
        • Resistance Level 1 = (Pivot x 2) - Previous Day Low
        • PP = Previous Day (High + Low + Close) / 3
        • Support Level 1 = (Pivot x 2) - Previous Day High
        • Support Level 2 = Pivot - (Resistance Level 1 - Support Level 1)
        • Support Level 3 = Previous Day Low - 2(Previous Day High - PP)

        where:
        PP – Pivot Point


        Pivot PointsPivot Points 


        INPUTS

        Aggregation
        The following aggregation periods are available for showing the levels:
        • Default. 
        • Day. Sets a one-day aggregation period for the indicator.
        • Week. Sets a one-week aggregation period for the indicator.
        • Month. Sets a one-month aggregation period for the indicator.
        InputDescription
        ShowOnlyLastThe indicator shows prices for the last aggregation period only

        PLOTS

        The plot renders the data you are working with on the chart. You can show/hide a plot by clicking the corresponding item in the settings. Every plot has a set of basic settings that you can change: color, weight, and type.

        PlotDescription
        R3The third resistance level
        R2The second resistance level
        R1The first resistance level
        PPThe Pivot Point plot
        S1The first support level
        S2The second support level
        S3The third support level
        Color

        Click the color rectangle under the plot's name to open the palette. Use the slider at the bottom to set the opacity of the color.

        Palette

        To create a custom color:

        1. Clickto open the color picker
        2. By using the slider at the bottom, adjust the main color
        3. Then, set a shade for the main color on the palette

        The custom-created colors are added to your palette. To remove a custom color, drag it out of the palette.

        Weight
        Change the value (in px) to adjust the thickness of the plot.
        Type
        The following plot types are available:
        • Linear. The plot is displayed as a line.
        • Column. The plot is displayed as a histogram.
        • Difference. The plot is displayed as a line which represents the difference between High and Low prices of the bar.
        • Points. The plot is displayed as points.
        • Text above candle. The plot is displayed as the price labels above candles on the chart.
        • Text below candle. The plot is displayed as the price labels below candles on the chart.
        • Triangle above candle. The plot is displayed as triangles above candles on the chart.
        • Color candle. The candles on candle-type charts are highlighted with specified colors.

        OVERLAYING

        Check Overlaying to display the indicator on the chart. Otherwise, the indicator is shown in a study pane down below.

        Note: To reset the settings, click Restore to Default next to the SETTINGS: INDICATOR'S TITLE
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