OPEN-SOURCE SCRIPT
GFG Pure Pivot Line by Agaam
**GFG Pure Pivot Line by Agaam**
**Description**
GFG Pure Pivot Line by Agaam is a simple, clean price-action indicator that plots the classic pivot line directly on the chart.
The pivot is calculated using the previous selected timeframe’s High, Low, and Close:
**Pivot = (Previous High + Previous Low + Previous Close) / 3**
By default, the indicator uses the daily timeframe, meaning today’s pivot is based on yesterday’s High, Low, and Close. Traders can change the pivot timeframe in the settings.
**How to Use**
The pivot line acts as a market balance level.
When price is trading above the pivot, the market may have a bullish bias and traders may prefer looking for long setups.
When price is trading below the pivot, the market may have a bearish bias and traders may prefer looking for short setups.
When price is moving around the pivot, the market may be undecided, choppy, or preparing for a larger move.
This indicator works best when combined with other confirmations such as trend, support and resistance, supply and demand zones, volume, VWAP, MACD, or price-action confirmation.
**Features**
* Classic price pivot line
* Uses previous High, Low, and Close
* Adjustable pivot timeframe
* Custom line color
* Adjustable line thickness
* Solid, dashed, or dotted line style
* Optional pivot label
* Clean chart design with no extra clutter
**Disclaimer**
This indicator is for educational and informational purposes only. It is not financial advice, investment advice, or a buy/sell recommendation. Trading involves risk, and past performance does not guarantee future results. Always use proper risk management and make your own trading decisions.
**Description**
GFG Pure Pivot Line by Agaam is a simple, clean price-action indicator that plots the classic pivot line directly on the chart.
The pivot is calculated using the previous selected timeframe’s High, Low, and Close:
**Pivot = (Previous High + Previous Low + Previous Close) / 3**
By default, the indicator uses the daily timeframe, meaning today’s pivot is based on yesterday’s High, Low, and Close. Traders can change the pivot timeframe in the settings.
**How to Use**
The pivot line acts as a market balance level.
When price is trading above the pivot, the market may have a bullish bias and traders may prefer looking for long setups.
When price is trading below the pivot, the market may have a bearish bias and traders may prefer looking for short setups.
When price is moving around the pivot, the market may be undecided, choppy, or preparing for a larger move.
This indicator works best when combined with other confirmations such as trend, support and resistance, supply and demand zones, volume, VWAP, MACD, or price-action confirmation.
**Features**
* Classic price pivot line
* Uses previous High, Low, and Close
* Adjustable pivot timeframe
* Custom line color
* Adjustable line thickness
* Solid, dashed, or dotted line style
* Optional pivot label
* Clean chart design with no extra clutter
**Disclaimer**
This indicator is for educational and informational purposes only. It is not financial advice, investment advice, or a buy/sell recommendation. Trading involves risk, and past performance does not guarantee future results. Always use proper risk management and make your own trading decisions.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.