Pivot Point (PP) – A top pivot point is the highest point reached in a swing prior to penetration of the low of the top day. A bottom pivot point is the lowest point reached in a swing prior to penetration of the high of the low day.
Swing – The movement from one pivot point to the next.
Trend Direction – Trend is up as long as new highs and higher lows are being made. It changes from up to down when the last low prior to the new high is broken.
Trend reversal from up to down
Trend reversal from down to up