Pivot Points indicator

pivot-points-indicator

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About the Pivot Points indicator

The Pivot Points indicator shows you hourly, daily, weekly or monthly pivot points and support and resistance levels.

You can choose between 8 different methods to calculate the Pivot Points and between 3 different formula for the support and resistance levels (R1- R4 & S1 – S4).

Input parameters for the Pivot Points indicator

  • Pivot Points (Choose the calculation for the Pivot Points)
    • (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
  • Support & Resistance Level (Choose the formula for the support & resistance levels)
    • Classic Formula
    • Woodie Pivot Points
    • Camarilla Pivot Points
  • Time Period
    • Hourly
    • Daily
    • Weekly
    • Monthly
  • Start Hour (for the Hourly Time Period only)
  • End Hour (for the Hourly Time Period only)

pivot-points-indicator-input-parameters

The formulas in detail

  1. 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)
  2. 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)
  3. 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

iCustom function (for developers)

You can easily make an EA based on this Pivot Points indicator with its 9 buffers. 0-3 for the Resistance Price, 4 Pivot Points, 5-8 for the Support Prices.

  • Version


    MT4 v1.03

  • Changelog

    Sep 20, 2016:

    Added: Indicator Buffers to make a EA based on it

    Jun 8, 2016:

    Added: “Ignore Weekend Gap”. This will allow you to show the Pivot Points on Monday in the Daily and Hourly mode

    Mar 11, 2016:

    Initial release of the MT4 version

11 thoughts on “Pivot Points indicator

  1. Hi. Few Qs.
    1. Although you mention only 3, does this PP indi include Floor trader pivots and Demark’s pivots also in addition to the above?
    2. Does it include yearly, monthly, weekly and daily pivots and 4 hourly pivots in all the pivot types?
    3. Can one overly all of them with different colors? ie Floor trader pivots …Y (red), M (brown), W(blue), D(green) etc. on a single MT4 chart?
    4. is the writing for the pivot lines on the side on all the types of PPs so not to obscure the chart?

  2. When using format daily, Monday morning does not work, work only: Tuesday, Wednesday, Thursday and Friday. But Monday dose not show the pivot of last friday.

    1. This is because of the Weekend Gap. I have added a new parameter where you can turn this on or off. Please download the new version in your account.

  3. When purchasing any of your robots do you offer set files and support trading.

    Like a chat room where traders discuss and share setups.

    1. I do not provide any settings. I do have a forum where users can share their settings, but there is not much activity. Feel free to open a new topic in the forum.

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