Pivot or Pivot Point

Pivots are the average of significant price levels from the historical performance of an asset or security. according to TT strategy the price level at which a trading strategy suggests a possible reversal in price movement, depending on the confluence of other signals.

Pivot points are calculated using the average of high(H), low(L) and closing(C) price of the previous trading day. Similarly monthly or quarterly pivots are calculated from high, low and closing price of the previous month or quarter respectively.

P = (H + L + C) / 3.

There can be multiple pivot points in a chart. For example, you can have 2 Quarterly pivot points, 2 weekly pivot points, and 3 monthly pivot points all in one chart.