The Pivots can be useful for two things. 1. Auto support/resistance levels which can also be used to find confluent major levels along with the other indicators RyuFib, RyuMA, RyuSR. 2. The pivot level can be used for your directional bias and confirmation along with the other tools and indicators. The monthly pivot can be used for the major direction bias and the weekly can be looked at for a short term move bias. Meaning if price is above the monthly pivot then I would be more bullish and if price is below the monthly pivot I would be more bearish.

The pivots indicator are included free in TradingView. However, my indicator is just with my own personal settings, style, and customization and included with the package.

Features of the RyuPivots

It combines 3 timeframes into one indicator and can show the daily/weekly/monthly pivots all in one indicator. The horizontal line levels match the time of the pivot same as the TradngView version. So the weekly pivots lines are long enough to go through the time of the week and will update each week. The montly pivot levels are longer in time so it shows throughout the whole month, however, for lower timeframes under 1h it will auto adjust shorter so that you can still see the text labels. In the settings you can hide the daily pivots from showing on higher timeframes since they will be to small and not important on the higher timeframes as they will change each day. Has the pivot level plus 5 support levels and 5 resistance levels for each timeframe. You can customize the style, colors, line thickness, line type, solid, dashed, dotted, and text size. You can show and hide any level and timeframes.