Pivot line

Maharg

Hi
What is a pivot line please? Is it an indicator? Or a line I identify my self like support/resistance and trend lines?
Thanks very much.

Okane

A pivot line is a line based on the average price.
So depending on how far you look back, there is an average support or resistance.

As an example, google and download Fibopiv_v2 and insert it on your MT4.
You will see a few lines but the blue one is based on the average, hence the name fibopiv (piv=pivot).
Of course you can draw it by hand, I do this every day and basically, any line you place on your chart
based on many candlestick touches (Support/resistance) can be seen as a pivot of that area!



Here is an example using Fibopiv_v2. See the blue line it says pivot level and you can see many candlestick touches in that area recently
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Maharg

Thank you Okane!