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Pivot indicator is a tool used by many traders. It can be used by beginners and experts alike and allows you to identify support and resistance levels.
Pivot indicator is a widely used tool because over the years it has shown the validity of the levels it calculates and can be easily integrated into your trading strategy.
Pivot levels can be used on different timeframes and based on the chosen time duration, calculate levels using daily or weekly data.
It is easy to understand thanks to the creation of levels on the screen which makes it easy for those who use the indicator to identify the areas with also the precise value of the levels.
