Daily Pivot Indicator for NinjaTrader

Awesome Pivotal Trading Action!

The daily pivot indicator is a new variation of  John Ehlers pivotal trading techniques.  I've adapted this one to include support/resistance lines for the day before, so you can see where todays trades need to be, at a glance.

This variation of the pivot indicator is for NinjaTrader, and provides a single black pivot bar, with four resistance and support lines for reference.

KEY FEATURES

• Previous Day Pivots
  Shows the previous days support / resistance lines
• Multiple Lines
  Multiple support and resistance lines for easy viewing

Use the daily pivot indicator as you would any other pivot indicator.  If you are new to pivot indicators, rest assured that there is no right or wrong way to use them, and are dozens (hundreds?) of ways to use them.  The principle idea is that the pivot line (central main black bar and line) is  where all shifting data uses as a reference point.  There are four additional lines in this indicator, the upper two are your first resistance line and your second resistance line.  The two lower lines are your first support line and second support line.

Wikipedia has a great overview article on Pivot Points and how to trade them.  Pivot points have been used by floor traders for decades to see real-time movements, versus lagging indications like moving averages.

The indicator is fairly simple in nature.  If you have any feedback on this indicator, or have more indicator suggestions, please leave a comment below

Chart Examples:

Free Download

Please Register or Login To Download. Registration is Free.