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.
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.