bee Pivot Points

Pivot Points can be assimilated in practice to supports and resistances as they are daily levels that can be touched several times during the day, generating possible trading signals from time to time. The indicator is composed of three levels of price support and price resistance where the trader prefers to position himself for the beginning and end of his trades.
For example you can position in BUY to the upward violation of the first resistance and put the exit levels on the second level of the pivot. Vice versa for the short. The holding of a support could be an indication to the mediation of the entry price.

The calculation methods are three and can be chosen among the settings of the indicator.

Calculation method 1 (default): (YESTARDAYHIGH + YESTARDAYLOW + YESTARDAYCLOSE) / 3

Calculation method 2: (YESTARDAYHIGH + YESTARDAYLOW + TODAYOPEN) / 3

Calculation method 3: (YESTARDAYHIGH + YESTARDAYLOW + YESTARDAYCLOSE + TODAYOPEN) / 4

This indicator can be used on any time frame, even intraday, keeping in mind that the necessary parameters YESTARDAYHIGH, YESTARDAYLOW, YESTARDAYLOW always refer to the previous day.

It cannot be used instead with the Tick by Tick chart because the daily tick quantity is very large. It is therefore advisable to first apply the indicator to another timeframe and take note of the levels, then passing on the Tick by Tick timeframe it is possible to trace the Horizontal Lines of the levels.