Overview

Advanced Pivot Levels (Monthly) is a cutting-edge tool tailored for day and swing traders seeking precise market insights. This indicator calculates monthly pivot levels based on the previous month’s high, low, and close, offering actionable support and resistance zones in real time. Designed for accuracy and adaptability, it empowers traders to navigate volatile intraday markets with confidence.

Example

Indicator plot on daily timeframe

Plot

Suitable for swing and position trading purposes, I personally suggest to plot the indicator on the daily timeframe.

Key features

• Precision entry points: Focused on monthly pivot levels for medium-term trading.
• Real-time adaptation: Adjusts dynamically to market movements and volatility.
• Zero lag: Provides actionable data instantly, without delays.
• Versatility: Suitable for all instruments, including stocks, forex, and futures.

Benefits for traders

• Identify critical monthly support and resistance levels with accuracy.
• Anticipate potential breakout or reversal zones during swing or position trading.
• Enhance trade timing with reliable pivot-based signals.
• Analyze short-term market trends and structure for strategic decision-making.

How it works 

This indicator calculates a set of monthly pivot levels derived from the previous month’s high, low, and close. The levels include:

• Core Pivot levels: Central Pivot (PP), Top Pivot (TP), and Bottom Pivot (BP), which combined form the Central Pivot Range (CPR)
• Resistance levels: R25, R50, R75, R100, as the previous month’s range bullish extensions
• Support levels: S25, S50, S75, S100, as the previous month’s range bearish extensions

These levels act as critical decision-making zones for swing and position traders, highlighting areas where market participants are likely to react.

Settings

HLC: Plot the high, low and close of the previous month

CPR: Plot the Central Pivot Range based on high, low and close of the previous month

EXTENSIONS: Plot the previous month’s range extensions

LABELS: Plot the labels of the levels above

NEXTCPR: Plot the developing Central Pivot Range for the next month

NEXTEXTENSIONS: Plot the developing Range Extensions for the next month

Who can use it?

• Position traders looking for precise levels to plan medium term trades.
• Swing traders analyzing weekly and monthly pivots in conjunction with larger trends.

Reference

The methodology behind these pivot calculations is inspired by the work of Frank Ochoa, whose teachings provide a foundation for this tool. This indicator is independently developed and optimized for ProRealTime.