Ely Waves Pivots

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These pivot points are used to create an expected range based on open and closing candle data. It's a mixture of two different types of pivots and together they form an expected range for various time frames. You can set them up from as little as 4 hours to 1 month. My personal favorites are 4 hour, 1 day, 1 week, and 1 month.

The dashed lines create the pivot area for the time frame chosen, and the thick lines create the expected high and low for the chosen time frame.

These are very powerful if used correctly!

Hope you enjoy!