This custom Pine Script indicator calculates and displays **pivot points** on your chart, offering automatic detection of potential support and resistance levels. The script calculates regular and "quick" pivot levels, allowing traders to visualize areas where price might reverse or consolidate.
### Key Features: - **Customizable Source**: Choose whether to base pivots on `High`, `Low`, or `Close` price data. - **Pivot Calculation**: Identifies pivot highs and lows, offering insights into possible support and resistance zones. - **Quick Pivot Option**: Offers quicker reaction to market changes with smaller pivot calculation intervals. - **Dynamic Levels**: Automatically updates and plots dynamic levels of support and resistance. - **Clear Visualization**: Quickly spot key levels on the chart with distinct plot styles and shapes. - **Flexible Inputs**: Adjust the pivot sensitivity using `left`, `right`, and `quick_right` parameters for fine-tuned results.
### Usage: - **Pivot Points** are often used by traders to identify reversal zones or potential breakouts. This indicator will help you spot significant price levels that may impact future price movements. - **Quick Pivot** mode provides faster updates for short-term traders or during volatile market conditions.
### Ideal For: - **Day Traders**: Traders seeking quick and responsive pivot points. - **Swing Traders**: To monitor key support and resistance areas for medium-term trades. - **Price Action Traders**: Traders relying on price movements and levels without relying on traditional indicators.
Start using **Pivot Levels with Auto SR** to improve your technical analysis and decision-making process today!