The MTP Decision Point (DP) is a tool to project “in advance” future support / resistance levels on your Chart. It is calculated using clusters of Fibonacci and Geometric Price levels.
The MTP Decision Point (DP) levels can also be used to help determine the larger degree trend, as the market moves from one DP level to another. Traders can then look to trade "in the direction of" this larger degree trend when, and only when, the picture is clear (i.e. the market is making clean reversals at DP levels). Ideally, Traders should look to use the larger degree trend on a chart time frame between 3-5 times higher than the one they are Trading on. Eg look to a Weekly when trading on a Daily time frame, or look to a 15min when Trading on a 3min time frame. Please remember, that a market is usually only in a clear picture about 50% of the time, the rest of the time, the market picture is unclear and as such should be avoided.
This is designed to be used in conjunction with the MTP Swings Pivots , which are included in the MTP Analysis Script. Please refer to this script for more information on the MTP Swing Pivots . The user has several options (Pivot Number, Last Pivot, Pivots Back or Bar Number) on how to choose the Pivot to display the DP level from.
There is a risk in Trading and Investing. Losses can and will unfold.
The script is available as an “invite-only” script, as part of the MTPredictor suite of tools on Trading View.
To obtain access, please go to the web page in our signature that appears below.