Central Pivot Tool

What is the Central Pivot Tool?

Key Features of the Central Pivot Tool

• Draws Pivot Points: R1, R2, R3, S1, S2, S3.
• Includes Fibonacci Levels: 0, 0.23, 0.38, 0.50, 0.61, 0.78, 1.
• Alert Function: Notifies when levels are reached using the MT4 mobile app.
• Customizable Line Types, Colors, and Sizes.
• Non-Repainting Lines: Lines are formed at the end of each day using previous day's fixed values.
• Supports Multiple Timeframes: Daily, Weekly, Monthly, and User-Defined Periods.

Calculation Methods

• Standard Method: Classic pivot calculation based on the previous period’s high, low, and close prices.
• Camarilla Method: Known for its unique formula, ideal for intraday trading.
• Woodie Method: Gives more weight to the close price.
• DeMark Method: Focuses on specific market conditions.
• Fibonacci Method: Uses Fibonacci ratios for pivot levels.

Customization Options

• Color, Style, and Width of Lines: Customize to keep your chart clean and easy to read.
• Adjustable Timeframes: Calculate pivot levels based on different timeframes such as hourly, daily, or weekly.
• Adjustable Time Zones: Set time zone adjustments to GMT or EST for accurate predictions.
• Draw Rectangles: Toggle to draw rectangles around pivot levels for better visualization.
• Keep User Adjusted Areas: Preserve manual adjustments to pivot levels even if the timeframe changes.

Recommendations for Use

• When Central Pivot Ranges form consecutively higher than the previous ones, the overall market sentiment is considered bullish.
• When Central Pivot Ranges form consecutively lower than the previous ones, the overall market sentiment is considered bearish.
• Small distance between new CPR lines indicates a strong trend day.
• Wide distance between new CPR lines suggests a non-trending day.
• CPR regions can work as a guide for trade entries.
• Setting alerts on R1 & S1 can provide good trade setups.
• Support & Resistance pivot points can be used as guides for take profits and stop losses.

Examples of Central Pivot Tool in Action

• Ultimate Pivot Levels Indicator: Allows entering desired values manually or using well-known pivot calculation methods to create pivot levels. It supports multiple pivot indicators on one chart for comprehensive market analysis.
• Italo Pivots Indicator: Shows every single important pivot point period, from daily to decennial, and provides clear lines for buying and selling.
• Ambrosia Expert Advisor: Trades levels created by both the Institutional Levels Indicator and Central Pivot Tool, including CPR zones, Fibonacci levels, and more.