Pivots – How to use them?

Hi, I’m working on market reverasal strategies using grids. Can you help me sharing how Pivots indicator work? thank you!

Hi,

the sqPivots indicator uses time range setting so you can define time window to be used to determine pivot levels. Then levels like P – Pivot, S1 – S3 and R1 – R3 are calculated according to standard formulas normally used for pivot levels.

P = (PreviousHigh + PreviousLow + PreviousClose) / 3;
R1 = (2 * P) – PreviousLow;
S1 = (2 * P) – PreviousHigh;
R2 = P + (PreviousHigh – PreviousLow);
S2 = P – (PreviousHigh – PreviousLow);
R3 = P + 2 * (PreviousHigh – PreviousLow);
S3 = P – 2 * (PreviousHigh – PreviousLow);

So pivot leves are calculated atomatically?  (once the time range is set, of course)

How can I use the day before to calculate pivots?

Sorry, I got it after reading the R1, S!, etc. Thank you!