3rd down and 8 on the 45 yard line and you want to go Long (a stock). The Defensive line keeps shifting but you are sure that your play (trade) will work. You think you know the S1 and R3 points, you know where the Pivot is. Time to hike the ball and execute.
Wait a minute. What is R3? 3rd Receiver? Is this football or trading? LOL
If you are new to trading and often wonder what folks mean when they talk about S1 this or R2 that, here is a great place to start. FreeStockCharts.com
It is quite simple to use the “Add Indicator” function from the menu and choose “Pivot Points” as shown in this example: