Pivot Points
Overview
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).
To add the tool to your chart, select the tool from the Levels tool group, and left-click on the bar on the chart you wish to calculate the tool from. Optuma will then draw the tool using the default settings.
Actions & Properties
Actions
Add to Toolbar: Adds the selected tool 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 line colour - 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 tool, which can then be pasted onto a different chart window.
Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.
Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.
Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the tool’s 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: Deletes the tool from the chart.
Properties
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 Hourly (requires realtime data), 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.