Easy Pivot Point - Forex and Commodities
By EasyIndicators
In financial markets, a pivot point is a price level that is used by traders as a possible indicator of market movement. A pivot point is calculated as an average of significant prices (high, low, close) from the performance of a market in the prior trading period. If the market in the following period trades above the pivot point it is usually evaluated as a bullish sentiment, whereas trading below the pivot point is seen as bearish.
It is common to derive additional levels of support and resistance, below and above the pivot point, respectively, by subtracting or adding price differentials calculated from previous trading ranges of the market.
A pivot point and the associated support and resistance levels are often turning points for the direction of price movement in a market. In an up-trending market, the pivot point and the resistance levels may represent a ceiling level in price above which the uptrend is no longer sustainable and a reversal may occur. In a declining market, a pivot point and the support levels may represent a low price level of stability or a resistance to further decline.
Pivots are especially popular in the FX market since many currency pairs do tend to fluctuate between these levels. Range-bound traders will enter a buy order near identified levels of support and a sell order when the asset nears the upper resistance. Pivot points also enable trend and breakout traders to spot key levels that need to be broken for a move to qualify as a breakout.
Easy Pivot Point automatically calculate and present the pivot point with resistance and support levels for each major currency pair on an easy to read dashboard.
Please note that pivot points are short-term trend indicators which is only useful for the current day trading.
Key Features
☆ Timely display of pivot points with 3 levels of support and resistance for 37 currency pairs,
☆ Two display modes are available. In simple mode, only the general market sentiment and status of the resistance/support level will be displayed. In the detailed mode, the actual value of the pivot points and resistance/support prices will be displayed.
☆ Allows you to create your own watch list to monitor only those currency pairs you are interested in.
☆ Display headline news of your favourite currency pair(s).
☆ Quick access to other related trading tools developed by us including several popular indicators.
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Easy Indicators relies on your support to fund its development and server costs. If you like our apps and wish to support us, kindly consider subscribing to Easy Pivot Point Premium. This $9.99 USD yearly subscription removes all advertisements within the app and supports our development of future enhancements.
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