en Pivot Points 4.0
Metatrader Indicator (MT4/MT5)
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ℹ Overview
This indicator displays pivot points in the chart and supports many calculation modes for Pivot Points and S/R levels
- It plots historical levels for backtesting purposes
- It allows you to select the reference timeframe
- It implements different Pivot Point calculation modes
- It implements different SR calculation modes
- It implements customizable colors and sizes
Pivot Point calculation modes
- (H+L+C)/3
- (H+L+O)/3
- (H+L+C+O)/4
- (H+L+C+C)/4
- (H+L+O+O)/4
- (H+L)/2
- (H+C)/2
- (L+C)/2
SR Levels calculation modes
Classic Formula:
- R4 = R3 + (High – Low)
- R3 = R2 + (High – Low)
- R2 = PP + (High – Low)
- R1 = (2 * PP) – Low
- S1 = (2 * PP) – High
- S2 = PP – (High – Low)
- S3 = S2 – (High – Low)
- S4 = S3 – (High – Low)
Woodie Pivot Points:
- R4 = R3 + (High – Low)
- R3 = High + 2 * (PP – Low)
- R2 = PP + (High – Low)
- R1 = (2 * PP) – Low
- S1 = (2 * PP) – High
- S2 = PP – (High – Low)
- S3 = Low – 2 * (High – PP)
- S4 = S3 – (High – Low)
Camarilla Pivot Points:
- R4 = PP + (High – Low) * 1.1/2
- R3 = PP + (High – Low) * 1.1/4
- R2 = PP + (High – Low) * 1.1/6
- R1 = PP + (High – Low) * 1.1/12
- S1 = PP – (High – Low) * 1.1/12
- S2 = PP – (High – Low) * 1.1/6
- S3 = PP – (High – Low) * 1.1/4
- S4 = PP – (High – Low) * 1.1/2
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Input parameters
When loading the expert to any chart, you will be presented with a set of options as input parameters. Don't despair if you think they are too many, because parameters are grouped into self-explanatory blocks.
- PP Calculation Mode
- Select the Pivot Points calculation mode desired
- S/R Calculation Mode
- Select the SR calculation mode desired
- Timeframe
- Choose the timeframe to calculate pivot points from
- Mid Points
- Display or hide mid points between SR levels
- Color of S levels
- Color of support levels
- Color of R levels
- Color of resistance levels
- Color of P level
- Color of pivot point levels
- Font size
- Font size for name and price labels
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FAQ
- Does the indicator repaint?
- No, the indicator never repaints.
- Can I hide the historical pivot points?
- No, the indicator displays historical pivot points as well for backtesting purposes.
Screenshots
