Multi-Timeframe Fibonacci Pivot Points and Support-Resistance Levels

Summary

This indicator calculates conventional pivot levels from the prior period’s high, low, and close, with selectable daily, weekly, monthly, or four-hour periods. It uses the resulting range to plot a central pivot, three resistance levels, three support levels, and optional midpoint lines. The outer levels are spaced using Fibonacci-derived fractions of the prior range.

It also plots Fibonacci retracement levels, labels, price annotations, and shaded regions around the inner support and resistance bands. These display elements can be enabled or disabled separately. The document provides indicator logic and describes how its levels are computed, but offers no trading rules, backtest, or performance evidence. It does not explain how to handle session boundaries or establish that the levels predict price behavior; traders would need to validate their use for a particular instrument and chart setup.

Key ideas

• Pivot levels use the previous period’s high, low, and close to calculate a central reference and support-resistance bands.
• The timeframe can be set to daily, weekly, monthly, or four-hour periods.
• Resistance and support distances use Fibonacci-derived fractions of the previous period’s range.
• Optional midpoint lines, labels, prices, retracement levels, and shaded zones customize the chart display.
• The document gives no evidence that the plotted levels provide a profitable trading signal.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.