Pivot Length Bands

4월 6일

Pivot Length Bands Indicator

Description:
The Pivot Length Bands indicator is designed to visualize price volatility based on pivot points and ATR-adjusted pivot points. I. These bands can help traders identify potential support and resistance levels and assess the current volatility of the market.

Inputs:

Swing Length: The length of the swing used to calculate the pivot points and average true range.
Pivot Length Left Hand Side: The number of candles to the left of the current pivot point to consider when calculating the pivot high and low.
Pivot Length Right Hand Side: The number of candles to the right of the current pivot point to consider when calculating the pivot high and low.
Usage:

Traders can use the bands as potential levels for placing stop-loss orders or profit targets.
The width of the bands adjusts dynamically based on the current volatility of the market.

Note:

This indicator is best used in conjunction with other technical analysis tools and should not be relied upon as a standalone trading signal.

EXAMPLE 1:
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EXAMPLE 2:
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