ALGO Pivot Points - The upper lime Green line is a Pivot and the current resistance level. The lower Gold line is a Pivot and the current support level. The Pivot Point ALGO constantly adjust to the market dynamically based on price action.
Support and resistance are continually adjusted as the market moves in real time. A pivot point is a price level of significance in technical analysis of a financial market that is used by traders as a predictive indicator of market movement.
If price trades above the pivot point it is usually evaluated as bullish sentiment, whereas if price is trading below the pivot point is normally evaluated as bearish.
The pivot points are the support and resistance levels and are often turning points for the direction of price movement within the underlying security. In an up-trending market, the pivot point and the resistance levels may represent a ceiling level in price above which the uptrend is no longer sustainable and a reversal may occur. In a declining market, a pivot point and the support levels may represent a low price level of stability or a resistance to further decline.
When price or candle goes above a pivot point or resistance it is called a breakout and a bullish move. If price goes below a pivot point or support it is called a breakdown and a bearish move.