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Pivot Web

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The Pivot Web is a prototype with its base derived from TradingView's standard pivot point indicator plus inspiration from LuxAlgo's trendline work alongside my own observations/experiences.

The theory is that there's legitimacy, from a technical standpoint, pivot point calculations are an adequate gauge of momentum and sentiment because the same math was used under pressure by floor traders themselves. That calculation is centered on the average of high, low, and closing prices. This indicator creates trendlines connecting the last pivot, support, and resistance levels to the current ones. A dynamic visual cue could make it easier to assess if the price will continue or reverse the current trajectory. This method also shows us an excellent visual for volatility.

Key Takeaways:

  • This indicator draws new dynamic trendlines.


  • These new trendlines connect the past and present pivot point levels based on the timeframe you select.

    Shorter timeframes = More trendlines


  • Price adherence to the path of these lines may offer insight for trading.


Lastly, note the first set of data in each new timeframe displays the current original pivot point levels along with the trendlines attached to their ending point. Most of the time this indicator leaves room by briefly highlighting the original static levels with all levels also being optional displays. Also note that a more stable asset may not require the outermost support and resistance levels. Like most time series analysis tools, the Pivot Web requires current data to function properly.

"Nature is pleased with simplicity, and nature is no dummy."

면책사항

이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.