Pivot Points for Support and Resistance of Share Price

What is Pivot Points ?

Pivot chart is technical indicator which shows support or resistance of shares. Here support means point of level from where share price could stable for a while and resistance also same meaning but difference between them is that support occurs after decline and resistance occurs after rise in the share price.

Basically Pivot points automatically calculated on the basis of last day movement. It is dependent on Last day High, Law, Open and Close. For inserting Pivot Point go to studies of your menu bar 
than search and insert. 

In this picture you can see there is Black line that is pivot points and there are six lines also. Three lines above the pivot points and three lines down the pivot points. The lines which are above the pivot points are called Resistance. Resistance lines named as R1, R2, and R3 on the basis of there nearness to pivot points R1 is first dark red line.

Three lines which are down the pivot points are called Support lines named as S1, S2, and S3.

Dark green is S1 line.

Never take Position when share price is moving around  Support and resistance always take position when share price cross the support and resistance.

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