The indicator uses Fibonacci multiples to determine significant levels of support and resistance for the current trading session.
It is displayed as a solid line between the support and resistance lines, the Pivot Point is the average of the high, low and close from the prior period.
From this Pivot Point, Fibonacci multiples of the high-low differential are added to form resistance levels and subtracted to form support levels. Once calculated, the Pivot Point will remain constant for the entire trading day.
The formula for the Pivot Point is as follows:
Pivot Point = (Period High + Period Low + Period Close) / 3
Update the UTC offset of your trade server to ensure correct calculation of the Pivot Points.
To change the "UTC Offset of trade server", "End of Trading day in UTC", and other values use the indicator's input parameters.
This window appears when you first attach the indicator to your chart. Left single-click the [Inputs] tab to access and modify the input values.
All the values for Pivot Points, and Fibonacci Levels are stored in 7 indicator buffers which can be accessed via code.
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