Pivot Points

Pivot Points Interpretation:

This indicator represents the pivot point and two levels of support and resistance. The indicator enables you to know it the price is close to strategic levels and encourages you to take positions in the market.

Pivot Points Calculation:

P = (yesterday's high + yesterday's low + yesterday's close)/3
R2 = P + (yesterday's high - yesterday's low)
R1 = 2 * P - yesterday's low
S1 = 2 * P - yesterday's high
S2 = P - (yesterday's high - yesterday's low)
R2 and R1 two levels of resistance
S1 and S2 two level of support
P would be the potential pivot point.

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