Difference between revisions of "Pivot High"
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When the price crosses above resistance level or below support level, a breakout occurs and a major price movement may be expected. | When the price crosses above resistance level or below support level, a breakout occurs and a major price movement may be expected. | ||
| − | Pivot High indicator identifies high pivot points. A red dot is placed at the High of the bar when the high price of that bar is greater than the high | + | Pivot High indicator identifies high pivot points. A red dot is placed at the High of the bar when the high price of that bar is greater than the high prices of a number of previous bars (specified in LeftStrength input) and a number of subsequent bars (specified in RightStrength input). |
== Default Inputs == | == Default Inputs == | ||
Revision as of 14:20, 29 September 2021
Pivot points are used to determine support and resistance levels. The resistance level may be identified by high pivots, whereas low pivots spot the support level. When the price crosses above resistance level or below support level, a breakout occurs and a major price movement may be expected.
Pivot High indicator identifies high pivot points. A red dot is placed at the High of the bar when the high price of that bar is greater than the high prices of a number of previous bars (specified in LeftStrength input) and a number of subsequent bars (specified in RightStrength input).
Default Inputs
Price (High) - price value used for identifying pivot points.
LeftStrength (3) - number of previous bars that must be lower than the pivot price.
RightStrength (3) - number of subsequent bars that must be lower than the pivot price.
