█ This Indicator is based on Pivot Points. It aggregates closed Pivot Points to determine a "Pivot Average" line. Pivot Points here refer to highs and lows.
█ Usages: Pivot Average can be used as resistance or breakout area. It is also very usefull to find battle zones. It can also be used as a trend indicator: when the price is below, trend is down, when price is above, trend is up. Mixed with momentum/volatility indicator it is very powerfull.
█ Parameters: Deviation: Parameter used to calculate pivots. Depth: Parameter used to calculate pivots. Length: History Lenght used to determine Pivot Average. Smoothing MA Lenght: MA lenght used to smooth Pivot Average. Close Range %: Define price percentage change required to determine close pivots. Color: Color of the Pivot Average.