Pivot point indicator has been added to our charts. Pivot point lines are one of the most used lines in technical analysis to define possible support and resistance levels. As a rule these lines are based on the previous day high, low and close prices and are used for the next trading day.
The basic principle of technical analysis behind Pivot Point Lines is that the index, stock or any other analyzed security has tendency of changing price trend at the Pivot Point support and resistance level.
Chart 1: S&P 500 chart with Pivot Points
2 comments:
Hello:
Is there a way to impose one indicator on top of another?
When I opened my MV charts this morning, The pivot points are imposed on TOP of my MACD HIST, I can't seem to re-create the action when I try to impose them on other indicators, Can you help?
Thanks,
The pivot points are located in the index pane and MACD as well as other indicators is in separate pane. I think it would be easier if you would send snapshot of your chart to MarketVolume's support team. I'm sure that they will be able to help you faster with your question.
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