In this section you can download Pivot Points for MetaTrader4:
I tried to find the best Pivot Points indicator for a long time. I like this one the best, because of possible options. You can select periods for Pivot Points calculation, you can draw:
- 1-hour Pivot Points
- 4-hour Pivot Points
- daily Pivot Points
- weekly Pivot Points
- yearly Pivot Points
This indicator also draws Pivot Points history. This is a great option, because it helps to analyze trading system on historical price action. When you are trading Forex, you should pay attention to the Pivot Points. It works great on Forex pairs but also Pivot Points are in use by traders in CFD handel.
About Pivot Points
Pivot Points lines are calculated based on previous open, high, low, close data. So if we are using daily Pivot Points then lines are calculated on open, high, low, close from previous day. On chart we have:
- Pivot line – middle line
- resistance lines – R1, R2, R3… They are above Pivot line and are possible reversal levels when price is going up
- support lines – S1, S2, S3… They are below Pivot line and are possible support levels when price is going down
- middle lines – with MM labels – lines in the middle between supports and resistance lines
You can use Pivot Points in trading Forex, stocks, commodities and other instruments.
In Metatrader4 open File menu (left top) and select Open Data Folder. You should see a new window with MT4 folders and files. Something similar to the screen below:
Go to unzipped folder. Move content from MQL4/Indicators to the same folder in MT4 window.
Do the same with templates. Go to the Templates folder and copy content to the same folder in MT4 window.
Questions? Leave a comment and I will try to help you.