What is pivot candle ?
Pivot candle is candle that creates new trend. its not highest or lowest, could be the same but as we know that trends started after consolidations so how or when it starts is more important than the turning points.
Requirements:
a. in 1H charts, we only look for trend/wave that creates adequate range (around or more than daily range), draw horizontal lines at opening price first bull candle (pivot candle) for every wave which adequate range.
b. in 4H, same as 1H but use adequate weekly range.
c, in D1, same as 1H but use adequate monthly range.
why opening price ? once again how or when it started that matters.
when they create trend,they will try to defend or they get losses.
