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MrPaul, I don't know the answer to your question but I do have one for you. 
I guess there is not an automatic pivot indicator, no? Also, you asking about monthly pivots. The pivots for futures don't change daily? Sorry for being such a noob. |
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Hey Robert,
Yes there is an automatic pivot level plotter on most charting programs. I'm just trying to figure out if I'm getting the correct values lol. They just don't seem correct and I knew someone on TL! would be able to verify for me.
As far as changing daily, yes they do. They also change weekly, monthly and quarterly (if you use those). I like to look for clusters of daily/weekly/monthly pivots, Market Profile levels(VAH,
POC,
VAL), Support/Resistance (such as a prior swing high) and fibonacci retracements ( 50% & 61.8%) to find areas where a larger number of participation from across timeframes and studies will be either supporting or resisting a price area.
As far as being a noob, no worries...I'm always here to help out
