The Pivots Scanner Module is a sophisticated expert advisor which analyses 23 currency pairs in real time. The system searches for potential support and resistance areas where either two or three multi-level pivots are within a trader defined proximity. The pivot level confluence can be made up of any combination of Daily, Weekly or Monthly pivot levels. These are often referred to as areas of confluence i.e. an area where technical levels are effectively grouped together in close proximity thereby creating a hidden price reaction point on the chart. The trader has complete control over which pivot levels the scanner uses for it's calculations and also whether the system should detect twin or triple confluence levels. If the system finds a confluence levels which matches the traders criteria the system alerts the trader using a customised TTS algorithm (Text to Speech Synthesis). This allows the trader to step away from the screen and to know the exact nature of an alert without having to search through a list of on-screen text based messages. The system also has a visual alert based system which highlights any confluence level where price action is within the specified proximity.
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The system has a very granular set of trader definable input parameters which cater for:-
The system is designed to run full time on a redundant chart - ie one which isn't being used for active trading/analysis. We suggest running the system off the EURJPY or GBPJPY charts as they provide a higher tick frequency per minute than most pairs. Initial feedback from customers has been excellent and some particularly noteworthy comments were:- "...........my version of the holy grail".
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