rludvik

Daily pivot experiment

BITTREX:MONABTC   MonaCoin / Bitcoin
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1
Last week I read about pivot points and decided to apply them on MONABTC pair. On chart you can see marked pivot levels based on daily data of 19.10.2017. Price levels are calculated with formulas you can find here: http://www.investopedia.com/articles/tec...
Please note, that these pivot points are short time, valid only for one day and have to be recalculated every day. In our example we can see that they provided good support and resistance levels to us until today, but this is not how they should be used. And of course we have to take a look also at some other indicators before entering trades (for example RSI ).
It looks interesting and I will give it a try sometime in the future.
Comment: Well, I found a script that does this for us :)

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how to make this script ?
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rludvik MohamedAtif
@MohamedAtif, just open chart with your favourite pair and click on "Indicators" (or press "/") and in Search field enter "auto pivot". This way the script will be applied to your chart (the same way as for example RSI or MACD). On the script page you also have an option to add it to favourites. Hope this helps.
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