Structural Pivot
A price-bar formation that gives real-time price signals of support and resistance. When a series of price bars reverses direction, it is considered a structural pivot (not a calculated pivot).
The price bar has an open, high, low and close. The pivot is composed of a minimum of three bars and occurs in every time frame. The pivot lows and highs are used to draw trendlines to show support, resistance and trend direction.
Think of the price pivot as an axis, which is a shaft that supports something that turns. Every pivot is a price turn and shows support (a pivot low) or resistance (a pivot high) for that time frame.
The price bar has an open, high, low and close. The pivot is composed of a minimum of three bars and occurs in every time frame. The pivot lows and highs are used to draw trendlines to show support, resistance and trend direction.
Think of the price pivot as an axis, which is a shaft that supports something that turns. Every pivot is a price turn and shows support (a pivot low) or resistance (a pivot high) for that time frame.
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