Pivot Point Indicator

What is a Pivot Point?

How to Calculate Pivot Points

• Pivot Point (PP) = (High + Low + Close) / 3
• First Resistance (R1) = (2 x PP) – Low
• First Support (S1) = (2 x PP) – High
• Second Resistance (R2) = PP + (High – Low)
• Second Support (S2) = PP – (High – Low)

Using Pivot Points in Forex Trading

• Price above the pivot point indicates a bullish bias.
• Price below the pivot suggests a bearish bias.
• Longer period pivot points tend to be more reliable.

Pivot Point Trading Strategies

• Pivot Point Swing Trading: Ideal for medium to long-term trades using weekly/monthly timeframes.
• Short-term Scalping: Utilizing daily pivot points to capitalize on rapid price movements.
• Confirmation with Other Indicators: Combine with other signals like moving averages or oscillators for enhanced accuracy.

Advanced Pivot Point Indicators

• Italo Pivots Indicator: Offers support/resistance lines and does not repaint, ensuring accurate signals for reversals and breakouts. 📈
• Advanced Pivot Point Indicator: Supports five calculation methods and customization options for better analysis.
• Pivot Point MT5 Indicator: Automatically calculates and displays pivot points with non-repainting capabilities.

Key Features of Pivot Points

• Versatile across multiple timeframes and currency pairs.
• Widely accepted by traders, leading to higher liquidity around these levels.
• Effective for setting alerts when price approaches critical pivot levels. 🚨