YouTrader

Pivot Points

A technical analysis indicator used to determine the overall trend of the market over different time frames. The pivot point itself is simply the average of the high, low and closing prices from the previous trading day. On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment. 

A pivot point analysis is often used in conjunction with calculating support and resistance levels, similar to a trend line analysis. In a pivot point analysis, the first support and resistance levels are calculated by using the width of the trading range between the pivot point and either the high or low prices of the previous day. The second support and resistance levels are calculated using the full width between the high and low prices of the previous day.

Using YouTrader, you don't have to calculate anything. Columns P, R1, R2, S1 & S2 are pivot, resistance1, resistance2, support1 & support2 respectively.  Same are available in 2MIN chart with prefix "d" like dP, dR1 etc and for weekly prefix with "w" like wP, wR1 etc.

Go to View >> Pivot Points. All these columns available there. If not, add it through Columns >> Settings.

I started my trading using these points first and even I started writing YouTrader for Pivot Points initially.  I always verify these indicators before initiating any trade. 

You can quickly sort out columns by clicking respective Columns Header  in YouTrader  http://i.imgur.com/BD6Nk5D.png

You can filter out quickly. Go to Filter >> Open http://i.imgur.com/eEAriXO.png

You can use Notifications feature in YouTrader to quickly get notification as soon as price cross these indicators. Go to Notifications >> Indicator Settings http://i.imgur.com/YalJQzB.png

Or you can use UScript for filter like R1+, R2+ R1- etc. Go to Filter >> UScript - Free Filter http://i.imgur.com/WYd7Mcm.png

You can make UScript alert in combination with other indicators available in YouTrader. Like if you want Alert when price cross R1 and Price already above 5WMA. here it is 

Go to Alert >> UScript Alert and add script [JCN(R1) & 5WMA+++] without square bracket

It will alert as soon as price cross R1 for the stocks already above 5WMA
http://i.imgur.com/yB1uPkW.png

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