Indicators: Pivot_Points_Lines_v1.3 MT4

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Pivot_Points_Lines_v1.3 MT4:

Draws Pivot Points Formulas

Pivot_Points_Lines_v1.3 MT4

Author: NickBixy

 
Hello what does TC and BC mean?
 
First of all, thank you for this. Kindly share whether you have an option with button on the screen? THank you in advance.
 
wuntimejd #:
Hello what does TC and BC mean?

  1. PP (Pivot Point):

    • This is the market's equilibrium point. If the price is above the PP, the market is considered bullish; if it is below the PP, the market is considered bearish.
    • Trading strategy: If the price is above the PP, consider going long; if it is below the PP, consider going short.

  2. BC (Bottom Central):

    • This is a secondary support level where the market might find support and bounce back.
    • Trading strategy: If the price approaches the BC and bounces, consider going long.

  3. TC (Top Central):

    • This is a secondary resistance level where the market might face resistance and pull back.
    • Trading strategy: If the price approaches the TC and pulls back, consider going short.
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