Floor Trader Pivots Levels 4-6

So, you've been using Floor Trader Pivots to great success, but sometimes an instrument just blasts through the 3rd level of support or resistance. What then? Well, that's where the 4th-6th levels come in. See above in an example from GBPUSD this week where something happened that made the currency pair surge through the 3rd level of resistance. Where did it go? Right up to the 6th level of resistance before retracing back down and bouncing between the 4th and 5th levels.

Let's take a look at another example. On January 30th of this year (2020), Tesla's stock gapped up. Way up. If you only had access to the first three levels of Floor Trader Pivots , all you would see over the course of this day was that the 3rd level of Resistance had turned into support. After that, you wouldn't have any idea why it was hovering where it was. Was it about to explode upward? If so, to where? You had no idea.

However, if you had this add-on , you would easily see that the stock had just gapped up to the 4th level of Resistance and that it was holding. Obviously, not a good time to go long.

If you're already trading with my Floor Trader Pivots script and want to expand your knowledge of possible places price can go to, this script is for you.

Send me a private message for information on pricing and access.

Happy Trading!!!

Versionsinformation:

Fixed the 4th mid level.

Versionsinformation:

Fixed monthly levels when using the standard pivot calculation formula.