Pivot Points with MID Levels

The Pivot Points with MID Levels indicator plots standard pivot points along with intermediate 50% retracement levels to identify potential support and resistance zones. This tool is designed to help traders visualize key psychological price levels across various timeframes, making it suitable for both intraday and swing trading strategies.

Usage

The Usage section focuses on identifying price action relative to the pivot levels. Traders can use the central Pivot Point (P) as a baseline for sentiment, while the Support (S1-S5) and Resistance (R1-R5) levels act as targets or reversal points.

The unique "MID" levels represent the halfway point between any two standard pivot lines (e.g., between R1 and R2). These intermediate levels are frequently used to manage trades, set tighter stop-losses, or identify areas where a trend might pause before reaching a primary pivot level. Additionally, users can enable Previous Day High (PDH) and Previous Day Low (PDL) to monitor gap fills and significant breakout zones.

Details

Standard pivot points are calculated using the high, low, and close of the previous period. This indicator allows users to select the anchor timeframe (Daily, Weekly, Monthly, etc.) via the "Higher Timeframe" setting.

• Pivot Point (P): (High + Low + Close) / 3
• Resistance (R1): (P × 2) - Low
• Support (S1): (P × 2) - High
• MID Levels: Calculated as the 50% distance between adjacent pivots to provide more granular price context.
• CPR Levels: Includes Top Central (TC) and Bottom Central (BC) levels, which form the Central Pivot Range, often used to determine the strength of a trend.

Settings

• Show Labels / Prices: Toggles the visibility of level names and their corresponding price values on the chart.
• Higher Timeframe: Determines the period used to calculate the pivot levels (e.g., Daily for day trading, Weekly for swing trading).
• Pivot Points Style/Width/Color: Individual customization options for the central Pivot, Resistance, and Support lines, including line style (solid, dashed, dotted).
• Mid Levels Style/Width: Adjusts the visual representation of the intermediate 50% levels.
• CPR Settings: Customization for the BC and TC lines to visualize the central range.

FAQ

How do I interpret the MID levels? MID levels act as secondary support and resistance. If price breaks R1 but stalls before R2, the R1-Mid level often serves as the turning point or a consolidation area.

Can I use this for Scalping? Yes, by setting the Higher Timeframe to 'D' (Daily) and viewing the chart on lower intervals like 1m or 5m, you can identify high-frequency support and resistance zones.

How do I get access to the Pivot Points with MID Levels? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.