There is a lot of be said about "Pivots" and a lot of people mean different things with that word.
What I am showing is the ''Old-School'' definition of that term.
are as simple as this:
(H+L+C)/3 of the previous period = Center (P) in current period.
The the 'Support' ( Sx ) and 'Resistance' ( Rx ) are calculated based on above equation.
There are many variations used these days, but the ''Traditional'' is the first, and I think most commonly used.
What do they tell you?
The seem to make good TARGETS for a move, and often lose energy there.
Many traders will look to take profits at a , which is obvious in above chart.
I will add updates with more explanations later, after this is up.
Please see the above for a ''Kind of Advanced'' use of the ''Pivot Points Standard'' indicator.
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The Fibonacci setting is often interesting.
The Camarilla seems popular with some Forex traders (but R4 and S4 is what Camarila fans use most)
But I just flip through those to look for confluences.