This tool gives you the opportunity to display pivot point support and resistance levels as well as the daily open, weekly close and monthly close levels on your chart with high levels of customization.

Pivot points are important horizontal support and resistance levels that get calculated using the high, low and closing price of the previous period (for example D1). With this indicator, you can choose between hourly to monthly timeframes to base your pivot point calculation on.

There is a variety of trading strategies taking advantage of pivot points and daily opens, weekly close and monthly close which is partly why they are so important: they simply get used by a lot of traders!

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