Draw Support and Resistance Levels
A move above the Pivot Point suggests strength with a target to the first resistance. A break above first resistance shows even more strength with a target to the further resistance levels.
A move below the Pivot Point suggests weakness with a target to the first Support level. A break below the first Support level shows even more weakness with a target to the further support levels.
This script will draw horizontal lines from the calculation of the PivotType based on the previous price bar for the chart period.
- PivotType - Standard, Fibonacci