[km] Pivot Points Colored

Script Overview: Your Compass in a Complex Market – Supporting Your Next Move with Daily & Weekly Pivots

This indicator is designed to be a powerful compass that answers those questions, guiding your trading decisions.

This script automatically displays Pivot Points (PP), along with Resistance (R) and Support (S) lines, for both Daily and Weekly timeframes. These lines represent key market turning points, price levels that many traders worldwide actively watch. With this single tool, you'll gain immediate clarity on crucial levels across all timeframes, from day trading to swing trading.

These Pivot Points will powerfully assist your trade judgment. Add it to your chart and experience its effectiveness for yourself!

Key Features: Deeper Analysis for Your Trading

1. Daily & Weekly Pivot Display: See both daily pivots, for tracking intraday movements, and weekly pivots, for understanding broader trends, simultaneously. This allows you to overlap and confirm key levels across different timeframes right on your chart.
   
2. Extensive Line Style Customization: Freely customize the color, thickness, and line style (solid, dashed, etc.) for the Pivot Point, and each Resistance and Support line. Adjust them to match your chart's theme and personal preferences for optimal visibility.
   
3. Flexible Pivot Period Specification: You can set the period used for pivot calculations. This allows you to adjust the sensitivity of the pivot lines according to your specific analytical objectives.
   
4. Traditional Pivot Calculation: By default, the indicator uses the Traditional Pivot calculation method, which is the most common and widely utilized by traders. Capture market movements precisely with this simple yet powerful approach.