Pivot point indicator.

Pivot points have always been the most suitable places to enter the market; identifying them is quite difficult, so it is better to use a special tool for these purposes.

The turning point indicator is designed specifically to determine the places where the price will make a reversal; the indicator records both trend reversals and rollbacks, which allows you to increase the efficiency of its use.

In addition to signals for a trend change, the script draws three multi-colored lines on the chart, two of which are original support and resistance lines, and the third serves as a moving average.

Thanks to the variety of data, when using the reversal indicator, the possibilities of analysis are significantly expanded; the chart clearly shows not only the places of correction and reversals, but also monitors the overall dynamics of the trend.

After installing the script in standard mode, you will find the following graphical constructions on the chart of the currency pair:

• Blue arrows - signal an upward trend , and accordingly are buy signals.

• Red arrows indicate a downward trend and can be sell signals.

• Blue line - support line.

• The red line is the resistance line.

• Yellow line - trend line.

The turning point indicator is more suitable for use in short-term scalping , since not all signals indicate a global trend change, which is important when opening long-term transactions.

The price channel also leaves much to be desired, but it only performs an auxiliary function when working with the indicator.

Download the Pivot Points Indicator.

A full description of all settings is in the archive, along with the program file itself, thanks to them you can tailor the script to your trading time period.