Auto-Pivot-indicator-MT4 (1)

Auto Pivot indicator MT4

Auto Pivot indicator MT4 shows the Daily/ Weekly/ Monthy Pivot and S/R line. Pivot points are one of the most widely used indicators in day trading. The tool provides a specialized plot of seven support and resistance levels intended to find intraday turning points in the market.

tag: Pivot

Platform: Metatrader 4

Download link: At the end of the post.

Introduction

The Auto Pivot indicator for Metatrader 4 automatically updates the pivot point (PP), support (S1,S2,S3) and resistance levels (r1,r2,r3) every day.

Price above the pivot point means positive while price below the pivot point means negative.

Auto Pivot indicator MT4 shows the Daily/ Weekly/ Monthy Pivot and S/R line.

What Is a Pivot Point?

A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames. The pivot point itself is simply the average of the intraday high and low, and the closing price from the previous trading day. On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.

The pivot point is the basis for the indicator, but it also includes other support and resistance levels that are projected based on the pivot point calculation. All these levels help traders see where the price could experience support or resistance. Similarly, if the price moves through these levels it lets the trader know the price is trending in that direction.

How to use Pivot point

  • A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames.
  • The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
  • On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.
  • Here we go over how to calculate pivot point levels and use them in practice.

Screenshot

Auto-Pivot-indicator-MT4 (1)
Daily pivot and S/R line

 

Auto-Pivot-indicator-MT4-week
Weekly Pivot line and S/R line
Auto-Pivot-indicator-MT4-month
Monthy Pivot and S/R line

Input set up

 

Auto-Pivot-indicator-MT4-indicator setting

Download Auto Pivot indicator MT4 for free (Auto pivot2)

Download Here

also search: auto pivot mt4 indicator, auto pivot point indicator mt4 download free,

How To Install Custom MT4 Indicators On Mt4 (6 Simple Steps)

>> Read full post

Step 1: Download The Indicator To Your Computer

Step 2: Go To Your Mt4 Trading Platform And Click “Open Data Folder”

Step 3: Click open the “MQL4” folder

Step 4: Click Open the “Indicators” Folder

Step 5: Paste The Custom MT4 Indicator Into The “Indicators” Folder

Step 6: Close Your MT4 Trading Platform And Then Restart It

keyword: forex mt4 indicator free download

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