Difference between revisions of "Pivot Low"
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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 Low indicator identifies low pivot points. A cyan dot is placed at the Low of the bar when the low price of that bar is below the low | + | Pivot Low indicator identifies low pivot points. A cyan dot is placed at the Low of the bar when the low price of that bar is below the low 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 14:19, 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 Low indicator identifies low pivot points. A cyan dot is placed at the Low of the bar when the low price of that bar is below the low prices of a number of previous bars (specified in LeftStrength input) and a number of subsequent bars (specified in RightStrength input).
Default Inputs
Price (Low) - price value used for identifying pivot points.
LeftStrength (3) - number of previous bars that must be greater than the pivot price.
RightStrength (3) - number of subsequent bars that must be greater than the pivot price.
