[CB] Pivot Points Pro is a technical analysis indicator designed for the cTrader platform to identify market trends and key support and resistance levels using pivot points. It supports multiple pivot point calculation methods, including Standard (Classical), Fibonacci, and Woodie formulas. The indicator allows users to customize the display of support and resistance levels (R1, R2, R3) and choose which levels to show.
It offers multi-timeframe functionality, enabling the visualization of pivot points from various timeframes such as the current chart timeframe, 1-hour, 4-hour, daily, weekly, and monthly. This flexibility helps traders analyze market conditions across different periods.
The indicator is primarily used to find pullback entries within trends. Typical trading strategies include entering on rejection at resistance levels confirmed by candlestick patterns (e.g., engulfing candles), entering on breakout and retest of pivot points, and setting take profit targets at specified support levels like S2.
Overall, [CB] Pivot Points Pro facilitates the identification of trend direction and potential reversal or continuation points by plotting pivot levels and their associated support and resistance zones across multiple timeframes and calculation methods.