Pivot indicator.

A tool that allows you to automatically calculate pivot levels, or in other words, levels that, when reached, significantly increase the likelihood of a price reversal.

The Pivot indicator adds 7 important levels to the chart of your selected currency pair, each with its own color for easier reading.

This tool is completely universal and can be used on any currency pair and time frame. The time of use is also irrelevant.

Download the pivot indicator .

Each level is plotted based on the maximum and minimum price values ​​on a specific time frame, as well as the closing price. Depending on the algorithm, 3 to 7 levels are plotted; in this case, 7.

Six lines act as support and resistance levels, while the middle line acts as a pivot point, following trend movements.
 
The script can be used for a wide range of applications, including finding market entry points, determining trade exit points, and using it to place stop orders.

The pivot indicator is primarily used when trading channel strategies , the main principles of which are opening trades when a level is broken or when the price reverses and moves in the opposite direction.
 
You can change the color of the pivot indicator levels and zoom in or out on the chart in the trading terminal.