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Pivot Points Indicator
Pivot points are very useful tools that use the previous bars' highs, lows and closings to project support and resistance levels for future bars. Daily pivot points are useful for swing trading; while 4 hour pivot points are useful for intraday trading. Longer term pivot points provide an idea of where key support and resistance levels should be.
This Indicator identifies and places on the chart the Daily Pivot, Daily S1, Daily R1, Daily S2, Daily R2, Daily S3, Daily R3;
Weekly Pivot, Weekly S1, Weekly R1 and Monthly Pivot.