In contrast, Forex works around the clock, so the end of the trading day coincides with the beginning of the next one. The most common method of calculating Pivot Points. Camarilla levels are located much closer to the current price, therefore, interactions with them occur much more often. This technique is suitable for those who perform short-term trades. Please note, above PP formula is somewhat different from the generally known Camarilla method.
Here we offer you a modified calculation, as using the traditional approach, we get a level that does not correspond to the logic of other support and resistance levels. This technique is similar to the classical one, but more attention is given to the closing price of the period while calculating the basic PP line. The theory of Fibonacci numbers is commonly used in the Forex market.
Pivot Points is not an exception. According to this method, the levels of resistance and support are determined by multiplying the range R to the corresponding Fibonacci numbers. It is a more expanded version of the classic Pivot Point calculation techniques. This indicator differs from the others in that it does not have usual support and resistance levels.
Instead, here we have three pivot lines: a central one and the upper and lower boundaries, which form the Central Pivot Range. CPR helps a trader to forecast the future market situation by analyzing over days whether the pivots are higher or lower, or whether the range width is narrowing or widening.
For example, if CPR is narrow for multiple days, it usually indicates the major breakout or breakdown in the nearest future. Or when the market is closing with the price above the day's CPR, it might be a signal for the bullish trends for the next day.
Which of these Pivot Points calculation methods is the best? There is no best or worst method. In fact, each of them can work, and you should make a choice based on your beliefs in trading. The indicator is designed in the "All In One" format. This means you can customize it according to your wishes, as we did our best to include all of the most popular functions in this MT4 indicator.
Please, contact us if you have any special wishes or improvement ideas, we will gladly consider them. Stay positive. Dont let anyone break down your dreams. God is the answer and will never leave your side. Let Him into your heart and He will fill it. This book can only take you so far. There are common principles. Tried-and-true tactics are modernized with new tools and approaches, and novel methodologies are introduced to help you make smarter trades while minimizing risk.
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