Pivot Points Levels

pivot_lvls

Function Name: pivot_lvls

Tags: None

Category: Price

A technical indicator derived by calculating the numerical average of a particular stock's high, low and closing prices. The pivot point is used as a predictive indicator. If the following day's market price falls below the pivot point, it may be used as a new resistance level. Conversely, if the market price rises above the pivot point, it may act as the new support level.

 

Link: http://www.investopedia.com/terms/p/pivotpoint.asp

 

Parameters

Levels

 

Default Value: 3  |  Minimum: 0  |  Maximum: 3

 

Type: Numeric

ShowMLevels

 

Default Value: -1

 

Type: Boolean