Pivot point

Pivot point is one of the popular way to identify the support and resistance level base on the relations with the high, low, open, close price of the previous day.

The fomula is: pivot point (PP) = ( high+low+close)/3 supports and resistances level: First support (S1) = 2*PP - high First resistance (R1) = 2*PP-low Second support (S2) = PP - (high - low) Second resistance (R2) = PP + (high-low)

you can download the indicator indicate the pivot levels in here: pivot custom timeframe

yearly pivot

autopivot...

Many version you can find in my indicators collections.