What is this indicator?
A type of pivot point that gives more weight to the previous period's closing price and is more common in futures markets. Its calculation method differs slightly from the standard pivot but serves a similar purpose.
How to read the chart
Price approaching these levels sets up probable reactions (support, resistance, or a breakout), and traders usually watch how price behaves in exactly these zones.
Practical tip
These levels aren't definitive — they're just probable reaction zones; getting confirmation from price action or volume before deciding is recommended.