Description
Similar to regular Pivot Points but Pivot Line is calculated with more weight to the closing price. Pivot Points is a method for calculating support and resistance levels. Resistance and support levels indicate where a major price movement is expected. As a trend indicator, it indicates an upward movement, for instance, if the pivot point price is broken in, then the market is bullish, and vice versa. Pivot points are short-term trend indicators, however and therefore useful for only one day. The second method is to use pivot point price levels to enter and exit the markets.
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moza11
Joined on 30.07.2012
- Distribution: Free
- Language: C#
- Trading platform: cTrader Automate
- File name: WoodiePivotPoints.algo
- Rating: 5
- Installs: 5951
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Comments
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