Crossover Pivot Lines [LuminoAlgo | Price Action]

anteayer

Crossover Pivot Lines© is a technical analysis indicator designed by our team to identify potential support and resistance levels based on the crossover of two simple moving averages (SMAs), the default periods of the SMAs are 50 and 252. When two SMAs (of different periods) cross over each other, the oc2 ((open+close)/2) price at the point of the crossover is marked as a key level. This level acts as a dynamic pivot point, serving as potential support or resistance in future price movements.

Features:

• Marks the closing price at each SMA crossover.
  
• Provides dynamic support/resistance levels.
  
• Customizable SMA periods for flexible strategy building.
  
• Works in various market conditions and timeframes, although 1-minute and 1-day is recommended.
  
• Adapts itself to detect whether if the level is a support/resistance level