The Pivot Point indicator is used to determine the overall trend of the market over different time frames using the average of the HLC of the previous bar.
Pivot lines are then drawn based off of a user-selected series of ratios (Standard, Fibonacci or Camarilla).
Actions & Properties
Add New Level: Select this action to add a new pivot point level.
Add to Toolbar: Click this action to add the selected Pivot Points to your custom toolbar.
Apply Settings to All: When multiple Pivot Points tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as hiding or adding levels- as this allows all the other Pivot Points tools in the chart, page or entire workbook to be updated instantly.
Copy Tool: Allows you to copy the selected Pivot Points, which can then be pasted onto a different chart window.
Move to Back: This option allows the selected item to be positioned behind the chart.
Move to Front: This option allows the selected item to be positioned in front of the chart.
Restore Default Settings: Click this action if you have adjusted the default settings of the Pivot Points, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the Pivot Points Properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Pivot Points to a chart, the tool will display using the new settings.
Delete: Delete the Pivot Points from the chart.
Tool Name: Allows you to adjust the name of the tool, as it's displayed in the Structure Panel.
Pivot Lines: Click on this option to display the different Pivot Point levels, the following properties can be adjusted.
- Value - Sets the Pivot Point value for the Pivot line. To change the value amount, click in the field and enter the new value.
- Line Style - Sets the line type, thickness, colour and transparency of the Pivot Point lines.
- Visible - To hide a level, deselect the check box with the green tick.
Calc Method: Allows you to alter the calculation method for the Pivot Points, you can choose from Standard, Fibonacci or Camarilla.
Timeframe: The time frame used in the Pivot Point calculation can be set to either Daily, Weekly, Monthly or Yearly.
Lock to Bar Position: When enabled, as new bars are added to the chart each day, the Pivot tool will automatically move / recalculate. For example, if you apply the Pivot tool to the last bar on your chart and lock it to that position, when the next day's data is downloaded the pivot tool will automatically move to the new bars position, with the interval lines recalculating based off of the new price.
Show Text: This provides an option to show or hide the Pivot Point values for each Pivot line.
Show Label: When selected each Pivot Point line will be labelled with the corresponding pivot identification, i.e Pivot, R1, R2, R3, R4, S1, S2, S3 and S4.
Label Alignment: Can elect to display the Pivot Point label in different positions in relation to the Pivot Point lines, there are 8 options available: Top Left, Top Right, Centre Top, Bottom Left, Bottom Right, Centre Bottom, Centre Left, Centre Right.
Font Size: Allows you to adjust the size of the text displayed for each label used in the Pivot Points. Moving the slider bar to the right increases the font size.
Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.
Visible: Un-tick this checkbox to hide the tool from the chart.
For additional information on editing the levels of this tool, click here.