Monthly, weekly and daily pivots are calculated with the beginning and ending data for each period.
This provides an easy line on the chart to identify where the pivots are and reduces error of calculation.
The indicator will help define very quickly the major pivots for the instrument even if you do not understand how to calculate the pivot.
You can also compare weekly and daily pivots so that you can better understand the position of price.
This indicator will help you trade more efficiently closer to resistance or support.