ACD PV Indicator
Platform: MT4 Type: Market Levels Last update: December 5, 2024The ACD PV Indicator for MT4 falls into family of pivots providers, but it has a twist. Namely, it plotts the signals only either above or below candlesticks. In the result, it provides two important trading information: market direction and support/resistance levels.
When bars are below pivots it means an ongoing downtrend and when price make a pullback, traders should observe action near resistance levels. Similarly, bars located above pivot lines corresponds to uptrend and when correction happens, traders should be cautius at support levels.
Example chart:
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