Rolling Pivots Monthly

The rolling daily pivot was suggested as a trend filter by Mark B. Fisher in his book The Logical Trader. One may also create rolling monthly pivot levels by taking the highest high, lowest low of the past N-months and the close/settlement of the current month in order to create rolling monthly pivot levels.

Indicator Description

If the market trades above the Rolling Pivots Monthly, we can assume we’re in an uptrend, whereas if it’s below, it will be in a downtrend. The ideal trade entry will be in the direction of the major trend when the market retraces towards the value area as represented by the rolling monthly pivot range, namely the Directional Pivot (DP), Central Pivot (CP) and the Main Pivot (PP).

The indicator is available for NinjaTrader 8.