Range Deviation Pivots follow the same premise as the previous study but have no time of day element.
- They place 1, 2 and 3 deviations around the opening
- They also have a calculation for trend skew which means that in contrast to the time bands they will contract or expand depending on the strength and direction of the trend
- In a downtrend, the down pivots will be wider apart and further away from the opening than the up pivots