Description: The Pivot Length Bands indicator is designed to visualize price volatility based on pivot points and ATR-adjusted pivot points. I. These bands can help traders identify potential support and resistance levels and assess the current volatility of the market.
Inputs:
Swing Length: The length of the swing used to calculate the pivot points and average true range. Pivot Length Left Hand Side: The number of candles to the left of the current pivot point to consider when calculating the pivot high and low. Pivot Length Right Hand Side: The number of candles to the right of the current pivot point to consider when calculating the pivot high and low. Usage:
Traders can use the bands as potential levels for placing stop-loss orders or profit targets. The width of the bands adjusts dynamically based on the current volatility of the market.
Note:
This indicator is best used in conjunction with other technical analysis tools and should not be relied upon as a standalone trading signal.
Thank you..