ST Main Pivots

ST Main Pivots

ST Main Pivotsindicator that seeks reversal points at predetermined intervals (days, weeks, months, years, etc.). Then, all extremes are checked for gluing and form consistent support and resistance lines, which can be used to find the optimal pivot points.

For each interval is a pair of topping lines corresponding to the minimum (support line) and maximum (resistance line) prices for the range of motion. The difference between these lines – is the price movement for the selected interval.

The indicator draws the support and resistance levels on all timeframes, so it is convenient to use both in intraday and medium-term trading.

If the indicator is several levels Support and resistance at the same level, there is a bonding levels in a stronger level. Weak levels are displayed by a dotted line, strong levels shown by the solid line. The thickness of the solid level corresponds to the power level, the greater the level is, the thicker the line.

The information is displayed to the level of “lifetime” – the value until the appropriate level of support or resistance was formed.

A special feature of the indicator is that it “forgets” about the points emerging during the reporting period. For example, if the daily rate was found, with a lifetime 23 hours, the two hour bar this level is outside the window of the daily and daily pivot points will be recalculated based on the remaining bars. This eliminates the tracking irrelevant topping levels.

Attention! In case of breakdown of resistance or support level recalculation performed levels and a new level set in place breakdown. In this case, “lifetime” is reset and a new count begins.

Input parameters:

  • Precise (int) – the accuracy with which “glue” levels. If the difference between the levels is smaller than the specified number of pips levels are glued to one;
  • SupportColor, ResistanceColor (Color) – Color Settings for the support and resistance levels;
  • DrawFibo [interval] (Bool) – whether or not draw additional levels of Fibonacci at selected intervals.

Use methods:

1. Use Case “End of level”:

Note. This option is useful with “DrawFibo” option enabled.

Terms and conditions for entry:

  • Forming a strong support or resistance (day level is glued with a week or more higher layers);
  • The lifetime of at least 12 hours;
  • From level was a “retreat” and the price has fallen below the level of 23.2 Fibo

risks:

  • Stop exhibited higher resistance level or below the support level (depending on the direction of position)

Objectives:

  • At the discretion of the trader, but not least, the level of risk.

2. Option of using “Break Level”

Conditions for entry:

  • Forming a strong support or resistance (day level is glued with a week or more higher layers);
  • The lifetime before breakdown of not less than 12 hours;
  • There has been a breakdown of the level (at the level zeroed lifetime).

risks:

  • Stop is set at the level of 23.2 at the time of entry into a transaction (because there was a failure, then the continuation of the trend will be updated the next level and will shift depending on him Fibo levels).

Objectives:

  • At the discretion of the trader, but not least, the level of risk.

3. Use Case “End of the Fib levels” (For intraday trading on the weekly and monthly fibourovnyah)

Conditions for entry:

  • Intraday support and resistance levels formed over 8 hours ago;
  • The price went up to the levels of 23.2 or 38.2 or 61.8;
  • Depending on the direction of price movement is high or low or higher (bullish scenario) or below (at the bearish scenario), and the closing level below or above the Fibo level (the price has gone beyond the level of, but rebounded);
  • Entrance to the transaction carried out with the bar closing.

risks:

  • Stop is set at the next fibo level.

Objectives:

  • At the discretion of the trader, but not least, the level of risk.

Mark Illioner

ST Main Pivots

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