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It identifies the pivot, support, and resistance price levels of the selected timeframe and then draws lines onto the chart.
FEATURES:
- Option to specify the Timeframe Period in the PivotSR calculation.
- Option to display the PivotSR of the last candle, of every candle, or of the current candle.
- Options for displaying labels, line thickness, and line color.
PivotSR can be interpreted as reversal levels or past price reactions that can be used as the basis for current price analysis. Some traders believe that there will be a reaction at these levels. So that can affect the current price. This can be used as a reference for determining take profit, stop loss and even entry points.
This Indicator is related to the system here.
