The very essence of trading with Pivot Points is based on the idea that the price tends to reach yesterday's close point much more often than to overcome the previous day range. That's why the most popular calculation period for Pivot Points is Daily.
In that context, all Pivot levels play the role of support and resistance.
One of the advantages of the Pivot indicator is its popularity, as the more traders use the same tool, the more likely the price will interact with it.
For calculating levels, HIGH (H), LOW (L) and CLOSE (C) data for the previous period are used, usually, it is a day, week, month or hour.
While calculating Pivots the concept of RANGE (R) is also used. Its value is determined by the formula: H – L.
PP – Pivot Point;
S1-S4 – Support levels;
R1-R4 – Resistance levels.