Author
Meet Arturo Lopez, the mastermind behind Point Zero Trading Solutions and the creator of the PZ Pivot Points indicator.
Pivot point analysis is a powerful tool for traders, especially when it comes to pinpointing support and resistance levels. It’s a bit like trend line analysis, but with a twist. In this method, we calculate the first support and resistance levels using the trading range between the pivot point and either the high or low prices from the previous day. The second set of support and resistance levels? That’s based on the entire width between those high and low prices from the previous day. It’s all about getting a clearer picture of potential price movements.
Why Choose PZ Pivot Points?
Now, you might be wondering, why add yet another Pivot Points indicator to your toolkit? Well, to be honest, I’ve tried many, and let me tell you, most just didn’t cut it for me. Many indicators are bloated with features I don’t need, while others won’t show past pivot points or let me select the timeframe I want. What I was after was something lightweight and customizable for historical testing. For instance, I wanted to pull up monthly pivot points and analyze them over the last couple of years, which was a real hassle with standard indicators. So, I rolled up my sleeves and created this one just for us traders.
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