Guide to Pivot Points: one of TV's greatest free tools

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
How I use the free Pivot Points indicator.

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.

Pivots are as simple as this:
(H+L+C)/3 of the previous period = Center Pivot (P) in current period.
The the 'Support' (Sx) and 'Resistance' ( Rx             ) pivots 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 Pivot , which is obvious in above chart.

I will add updates with more explanations later, after this is up.
Comment: I have posted a follow-up to this tutorial here (Chapter 2):

Please see the above for a ''Kind of Advanced'' use of the ''Pivot Points Standard'' indicator.
German cars Rock! If I am not Trading, then I am Driving.
You have converted me to an avid pivot tracker, too much correlation to ignore.
Please keep up the good works.
Nice one and well explanations. Will you share the indicator with us?

Thank you very much.
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