The pivot range is one of the basic concepts of the ACD system, although Mark Fisher gives higher priority to the opening range. The pivot indicator consists of two lines, which are the upper and lower borders of the pivot range. The pivot range is calculated based on the high, low, and close of the previous trading period in accordance with the formula presented on page 37 of The Logical Trader or in the ACD basics. You can change two parameters. The first parameter is the number of days on which the pivot is based, the default value is 1 day, in this case we are dealing with a daily pivot. The second parameter is the number of days to display the indicator, the default value is also 1 day. You can set any number of days (if it goes beyond the trading history, then the entire chart is covered by an indicator). The time frame of the chart should be not more than 1 day. In case of switching between different stocks or futures, the indicator lines are updated.
An example of an indicator is shown in Fig. 5.1 for a 10-minute chart and daily pivot.