A pivot point is a technical analysis indicator that is used to determine the overall trend of the market using different time frames and it plays the role of identifying support and resistance levels. The most popular timeframe for a pivot point indicator is daily.

How to Adjust the Indicator

You can easily turn off the support and resistance levels 1,2 and 3 so you can just see the main pivot point, this is dome in the setting Show R/S. The term R/S means resistance and support levels.

Pivot Point Formulas Available

There are a few options for the calculations on where the support and resistance levels are shown, this indicator allows the choice of 3.

• Standard (Classical)
• Fibonacci
• Woodie

Multi-Timeframe Options

The indicator also has the option to show different timeframe pivot points on your chart which may be showing a different timeframe, the available timeframes are as follows:

• Current chart timeframe
• 1-hour
• 4-hour
• Daily
• Weekly
• Monthly

How to Trade With Indicator

An example of how to trade with this indicator is shown below:

1. Entry 1: reject by R1 level and there is an engulfing candle
2. Entry 2: break out the pivot point and retest again
3. Take Profit: reach the S2 level and this is also the bottom of the range