- May 12, 2018 at 5:49 am #50
The AllPivotPoint indicator draws on the chart Pivot-levels of different origin. Only it does not display all levels at once, but allows the user to choose which type of levels he needs.
On the chart, this indicator looks like broken lines of red and green, which change their position relative to the price chart with the beginning of each trading day.
As I said before, the AllPivotPoint indicator can display different levels on the chart, these can be classic Pivot levels that are common among traders, Fibonacci levels that are widely used in financial markets, Camarilla levels, one of the Pivot levels, Woodie levels , which are similar to the usual Pivot levels, but are calculated a little by another formula, as well as the DeMark levels, which are more like not the classic Pivot levels, but the predictors of the High and Low levels of the current day.
This indicator is used only inside the day, so the time frame should be strictly less than the daytime. If you try to set an indicator, for example, on a daily chart, or change the intraday time frame to a daily one, a message will immediately appear that the time frame should be less than the daytime frame.
All Pivot Point Technical Indicator parameters
weekend – whether to take into account the resurrection in the calculation of levels (true – no, false – yes);
TypePivot – the type of levels displayed on the graph:
0 – the classical Pivot levels;
1 – Fibonacci levels;
2 – levels of Camarilla;
3 – Woodie levels;
4 – levels of DeMark (“predictors” High and Low).
How to use All Pivot Point Technical Indicator?
Trade on this indicator is no different from trading on the classic levels of support and resistance. Transactions open in one direction or another depending on how you trade, for breakdown or breakdown from the level. Also, different levels can be different in their meaning. For example, if you break through DeMark levels, you should open the deal in the direction of penetration, and try to keep it as long as possible, because if you break through these levels, the price usually goes to long distances, especially if the breakdown occurred soon after the opening of a new trading day.
If you want to use several types of levels at once, you need to add several AllPivotPoint indicators to the chart, and set different values for the TypePivot parameter so that you do not get confused, there you can set different colors, appearance and thickness of lines in the settings in the “Colors” tab.
Download All Pivot Point Technical Indicator
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