Statistical Pivot Moves

This indicator tracks the percentage moves of of pivot up and pivot down moves independently, under the assumption the market has two driving forces.

The red dotted lines are statistical points along a distribution curve where price may consolidate, reverse, breakout for the current pivot down move.

The green dotted lines are points along a distribution curve where price may consolidate, reverse, breakout for the current pivot up move.

The orange and teal dotted lines are also points along a distribution curve, that I have observed to act like support/resistance areas where breakout candles upward/downward often happen. If price stays below any of them, expect price to move to lower levels. If price stays above any of them, expect price to move to higher levels.

dashed lines represent a range where hard breakouts, reversals and breakout re-tests occur.

The data updates on new pivot data, and the targets will change as the price scales up or down.

Using on multiple timeframes can provide confluence when levels form around same price across multiple timeframes. I would give higher weight to levels with confluence than other levels.