Floor_Pivots Review: Settings, Strategy & How to Use It
Floor_Pivots provides key support/resistance levels based on daily, weekly, and monthly pivots. Ideal for breakout and mean-reversion traders. Settings and strategy inside.
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What This Indicator Actually Does
Floor_Pivots calculates and plots classic pivot points, support (S1, S2, S3), and resistance (R1, R2, R3) levels using the standard formula: (High + Low + Close) / 3. You can choose daily, weekly, or monthly timeframes. As the chart above shows, these levels act as magnets — price often reacts at them, either reversing or accelerating through.
Key Features That Set It Apart
Most pivot indicators on TradingView are cluttered or overly complex. Floor_Pivots keeps it clean. Three standout features:
- Multi-timeframe selection in one script — toggle between daily, weekly, and monthly without adding three separate indicators.
- Customizable line styles and colors — you can make resistance green and support red (or whatever fits your chart).
- Built-in session high/low labels — useful for spotting intraday extremes relative to the pivot.
Honest Pros and Cons
| Pros | Cons |
|---|---|
| Clean, non-repainting levels | No central pivot range (CPR) or Fibonacci variants |
| Works on any timeframe | Default colors are a bit dull |
| Lightweight — no lag | No alerts for level breaks |
| Monthly pivots hold well for swing trading | Doesn’t auto-adjust for market open gaps |
Best Settings (My Tried-and-Tested Recommendations)
- Timeframe: Daily for intraday scalping; Weekly for swing trades. Monthly if you’re holding 2+ weeks.
- Line style: Solid for pivot, dashed for S1/R1, dotted for S2/R2 and beyond. This helps you distinguish strength.
- Colors: I set pivot = white, S/R1 = yellow, S2/R2 = orange, S3/R3 = red. Easy to read at a glance.
- Session High/Low: Turn ON if you trade the first 2 hours. Turn OFF for longer-term views.
How to Use It for Entries and Exits
This is a pure level indicator — no signals. Use it like this:
- Breakout entry: Price closes above R1 with volume → long, target R2. Stop below pivot.
- Mean reversion: Price touches S2 on a 15-minute chart with RSI oversold → long, target S1 or pivot. Stop below S3.
- Reversal at pivot: If price opens above pivot but fails to hold → short below pivot, target S1.
- Trailing stop: Use R1 as a trailing stop for long positions in a strong trend.
Who It’s Actually For
- Day traders who need clean, fast-loading levels.
- Swing traders who want weekly/monthly reference points.
- Beginners learning support/resistance — the simplicity is a plus.
Not for: Traders who want automatic entry signals, Fibonacci levels, or volume-based pivots.
Better Alternatives If They Exist
- Auto Pivot Levels — includes CPR and Fibonacci, but more cluttered.
- Pivot Point Standard — similar but with alerts.
- VWAP + Pivots — if you want volume-weighted levels alongside pivots.
Floor_Pivots is better than most because it’s lightweight and customizable without being overwhelming.
FAQ: Real Trader Questions
Q: Does this repaint?
No. Pivot levels are calculated from the previous day/week/month and stay fixed.
Q: Can I use it on crypto?
Yes, works on any asset. Monthly pivots are surprisingly reliable on Bitcoin.
Q: Why don’t I see S3/R3?
Check your settings — they’re enabled by default but might be hidden if you toggled them off.
Q: Can I backtest strategies with this?
Indirectly. The levels don’t generate signals, but you can manually test entries at S1/R1.
Final Verdict
Floor_Pivots is a solid, no-nonsense pivot level tool. It won’t make you rich by itself, but paired with price action or an oscillator, it’s a reliable reference. For a free indicator with clean code, it earns its four stars.
Rating: ⭐⭐⭐⭐ (4/5)
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Data source: TradingView. This review is based on publicly available indicator information and hands-on testing. Always test indicators in a demo environment before live trading.
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