Those who are involved in trading know how important it is to take into account the previous session.
I have prepared this Pivot indicator, with intervals from 15 minutes up to a month, and it includes order blocks and trend lines. Both options are based on the highest and lowest points of the previous session.
The default configuration is set for a 5-minute timeframe.
The pivot is set to 4 hours, and the interval is 5, which means it looks back 20 hours in 4-hour intervals. This is perfect for those who trade daily.
However, if you are a fan of Swing Trading, you only need to change the Pivot interval; everything else adjusts automatically.
Order blocks highlight potential areas where the price could find support or resistance, offering insight into possible reversals or continuations. By combining them with the automatically generated trend lines for the chosen timeframe, traders can more accurately identify potential price direction and possible entry or exit points. The ability to visualize these trend lines across multiple timeframes provides a more complete understanding of market structure.
With additional tools like
OrderPrice V3 https://ctrader.com/products/397
NTMPICLL https://ctrader.com/products/327
Range Box Level https://ctrader.com/products/245
Or RangeBoxFibonacci https://ctrader.com/products/526
Market Session https://ctrader.com/products/94
MacdVolume https://ctrader.com/products/267
4MA https://ctrader.com/products/247
You will be invincible
Good luck 😀
In the case of a buy, observing last two images the behavior of OrderPrice and the incorporated moving averages, when a green line appears and the moving average is below, it is the perfect moment to open a buy transaction.
With the data from the previous session, you can determine how far the price might go or where resistance might occur. If it breaks through, it may continue to the second point, which could be the neutral zone of RangeBoxLevel. If it surpasses that and there are no signs that the moving averages want to change direction, the price could reach the order block zone of the previous session.
In the last image, there is a screenshot of a perfect situation to enter and exit a transaction. The rest is just observing and drawing conclusions.
These tools are essential when it comes to winning through asset trading.
