What is the profitable method of using a range indicator?

<p id="isPasted">Range Trading with Pivot Points</p><p>Pivot Points is one of the best indicators for mapping out horizontal support and resistance levels in the market. The standard Pivot Points indicator has a reference line (PP) as well as three support lines (S1, S2, and S3) and three resistance lines (R1, R2, and R3).&nbsp;</p><p>In a range-bound market, these lines allow traders to observe support and resistance levels in the market and determine ideal areas to place entry and exit orders. For instance, if the price is trading between R1 and PP, traders can look to buy at or near PP and sell at or near R1. When buying at PP, stop loss can be placed below S1 and take profit at R1. Similarly, when selling at R1, stop loss can be placed above R2 and take profit at PP.&nbsp;</p><p>Pivot Points is a solid indicator for trading ranging markets. Still, traders can make it even more effective by combining it with Oscillators, such as RSI , or Candlestick Patterns , such as Pin Bars and Double Tops/Bottoms.&nbsp;</p><p>Pivot Points are also excellent for watching out for breakouts. When a strong pivot points line has been breached, traders can adapt to a strategy in tandem with the new market condition.&nbsp;</p>