Bazaar Indicators Pivot Points

Bazaar Indicators Pivot Point
It is derived by commonly used formula, i.e. by calculating the average of high, low & close of previous day, week, month, quarter & year. This is being the apparent psychological level-point used for positive & negative bias. Based on this if current price is more than pivot point than it attracts buying to the extent of resistance levels calculated on the basis of high, low and close on the other side if current price is less than the pivot point it attracts selling to the extent of support levels calculated on the basis of high, low and close.
Daily, Weekly, Monthly, Quarterly & Yearly pivots mentioned here are being used according to the criteria of the traders/investors.

Supports: (Positive Bias)
Supports level in terms of S1, S2….is designed and derived on the basis of Pivot level along with the High, Low and Close. These are indicating the possible positive/negative bias of trader at the different stages mentioned against each level. In absence of finding support at one particular level, mentioned it can go to next level. Accordingly traders trade, as a day trader or positional trader/investor.

Resistance: (Negative Bias)
Resistance level in terms of R1, RS2….is designed and derived on the basis of Pivot level along with the High, Low and Close. These are indicating the possible positive/negative bias of trader at the different stages mentioned against each level. In absence of finding more support at one particular level, mentioned it can go to the next level. Accordingly traders trade, as a day trader or positional trader/investor.

Why Bazaar Indicators Pivot Points Important:
Pivot Points are important, as it is based on previous periods High, Low & Closes. These are nothing but the actual records based on which future psychology is designed/derived. As far as Pivot points are concerned they are working as apparent psychology for day & positional traders. As these are being used by masses it also plays a value-added role for the traders/investors to enter at a proper level, particularly during the intraday volatility.

Bazaar Indicators Pivot Point Tool:
Although it is largely used by day traders, we have experienced that the positional pivots, provided here are equally helping traders/investors do define the risk reward ratio for their entry point and trade / invest accordingly.

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We also welcome the suggestions and feedback, if any regarding the Pivot Tool provided here. You can write or mail to [email protected].