Hey People,
New here. Started trading only a few days back after finishing Technical analysis module on Zerodha Varsity.
I find it difficult to recognise price action zones to plot support and resistance levels maybe because its new for me. So wanted to know if there is an indicator in kite which could plot those levels for us. I came across something called Pivot points and is it the same?
Thank you.
Many indicators provided by kite supports and resistance levels can be plotted on chart.
In kite select stock click on chart option once chart get open click on Studies and in this Pivot is available.
Please note that Pivot point is different from support and resistance level.
Refer - http://zerodha.com/varsity/chapter/support-resistance/
and for formula to calculate the pivot, supports and resistance levels in same link refer post of user ‘HEMANT PATRA’.