What’s up Traders, in this article, we’re going to be talking about using Pivot Point in Forex Trading. You will receive a thorough description of the pivot point trading method in this post.
It will provide answers to queries like, “What are pivot points?” What does a share trading pivot point mean?
What in forex is a pivot point? How can a pivot point indicator employ support and resistance levels? What other kinds of pivot points exist? How are pivot points used? And how can MetaTrader employ pivot points?
What are Pivot Points?
- Pivot point calculations
- Pivot points: What do they tell you?
- Fibonacci retracements vs Pivot points
- Pivot Points’ Limitations
A pivot point is a technical analysis calculation, or indication, that helps to identify the market’s general trend across a range of time frames.
The pivot point itself is just the average of the high and low prices for the current trading day and the preceding trading day’s closing price.
Trading above the pivot point the following day is supposed to represent continued bullish mood, while trading below the pivot point represents continued pessimistic feeling.
The indicator’s pivot point serves as its foundation, but it also contains additional support and resistance levels that are anticipated using the pivot point calculation.
These levels all aid traders in identifying potential areas of support or resistance for the price. Likewise, if the price crosses through these levels, the trader will be informed that the price is moving in that direction.
An intraday technical indicator called a pivot point is used to spot trends and reversals, mostly in the equity, commodity, and FX markets. The levels at which the market attitude could shift from bullish to bearish and vice versa are known as pivot points.
To establish entry, stop, and profit-taking levels, day traders calculate pivot points.
The Pivot Point formulas:
*High is the price as of the previous trading day.
*Low denotes the price from the previous trading day that was the lowest.
*The term “close” denotes the day’s final trading price.
Pivot point calculations
The levels will automatically be calculated and displayed when the pivot point indicator is added to a chart.
Here’s how to determine them on your own, bearing in mind that pivot points are typically utilised by day traders and are based on the high, low, and close from the previous trading day.
Use Tuesday’s high, low, and close to establish the pivot point levels for Wednesday’s trading session if it is Wednesday AM.
*Find the day’s high and low, as well as the close from the most recent trading day, after the market closes or before it opens the next day.
*Divide the total by three after adding the high, low, and close.
*Put a P next to this price on the chart.
*Calculate S1, S2, R1, and R2 after knowing P. These calculations use the high and low from the previous trading day.
Pivot points: What do they tell you?
An intraday indicator for trading futures, commodities, and equities is the pivot point. They are not oscillators or moving averages because their prices are constant throughout the day.
This means that traders can use the levels to aid in the early planning of their trading.
For instance, traders are aware that they will probably be shorting early in the session if the price drops below the pivot point.
If the price is over the pivot point, on the other hand, they will be purchasing. Target prices and stop-loss levels for such transactions can be S1, S2, R1, and R2.
Trading professionals frequently use pivot points in conjunction with other trend indicators.
A pivot point becomes a stronger support/resistance level when it crosses over or converges with a 50-period or 200-period moving average (MA) or Fibonacci extension level.
Fibonacci retracements vs Pivot points
Horizontal lines are drawn to indicate probable locations of support and resistance using pivot points and Fibonacci retracements or extensions.
Because it may be drawn between any two key price points, such as a high and a low, the Fibonacci indicator is helpful. The levels between those two places will subsequently be created.
This means that each price point on a chart can be connected to produce Fibonacci retracement and extension levels. Following the selection of the levels, lines are generated at various percentages of the given price range.
Contrarily, pivot points are based on defined figures that are not percentages: the high, low, and close of the previous day.
Pivot Points’ Limitations
Pivot points are based on a straightforward formula, and while they may be valuable to some traders, others may not. The levels drawn on the chart are not guarantees that the price will stop, turn around, or even get there.
In other cases, a level’s price will alternately rise and fall. It should only be used as a part of a comprehensive trading plan, as with all indicators.
About Pivot
- How do pivots work?
- What a Pivot reveals to you
- An example of using a Pivot
- What sets a Pivot apart from Fibonacci Retracements
- Pivot Technique restrictions
How do pivots work?
A pivot is a critical price level that is known in advance and around which traders may base their trading decisions.
A pivot price is comparable to a level of resistance or support when used as a technical indicator.
If the pivot level is breached, it is anticipated that the price will go forward in that direction. Or the price might change direction at or near that point.
What a Pivot reveals to you
There are pivot points and pivots. Various people may have different interpretations of these phrases.
For a trader, a pivot is a significant price level, similar to an inflection point, when they anticipate price to either continue moving in the present direction or reverse.
Some traders consider the price’s previous high or low marks to be a pivot. The 52-week high may serve as a pivot point for a trader. The trader believes the price will rise more if it crosses above it.
However, they might close out their position, for instance, if the price returns to being below the previous 52-week high. On any timescale, a pivot may take place.
A pivot point can be a location that a trader considers crucial, such as a technical level, a swing high or low, a weekly high or low, or a daily high or low.
Levels are calculated pivot points. Many traders now use pivot points, which were first used by floor traders to determine crucial price levels.
A pivot point is utilised as a benchmark for potential price movement after data from the stock’s past price has been analysed.
Around the pivot point, support and resistance levels are determined by further computations.
Pivot points can be determined depending on several time frames, giving day traders, swing traders, and investors information.
Price movement is viewed as bullish when it is above a pivot point and bearish when it is below the pivot point.
The R stands for resistance, and levels R1 and R2 are determined above the pivot point. S1 and S2, which stand for support, are calculated levels that are below the pivot point.
Price may go to S1 if it drops below the pivot point. Price may proceed to S2 if it drops below S1. The same idea holds true for R1 and R2.
An example of using a Pivot
The 52-week high is frequently seen as a pivot point by swing traders who concentrate on growth equities, especially after a significant downturn.
Apple Inc. (AAPLtop )’s price is shown on the following chart at $233.47. This was followed by a fall of more than 35%. Eventually, the price returned to its previous peak.
As the price crossed the level, traders watched it closely and bought. The price climbed higher and higher.
When the price rises after hitting the previous 52-week high, this won’t always happen. Strong companies are more likely to experience it since traders are seeking for a good opportunity to buy.
Take note that the price had been climbing for some time prior to exceeding the 52-week high.
In light of this, even if the pivot is crucial, there may have been additional technical or fundamental signals that allowed a trader to enter at a higher or lower price than the 52-week pivot.
What sets a Pivot apart from Fibonacci Retracements
Usually, the chart will depict both of these levels. The length of the price swing is used to compute the levels of Fibonacci retracements.
As opposed to pivots or pivot points, they usually provide levels to look for. Fibonacci retracements indicate the potential size of the price decline.
Pivot Technique restrictions
There will always be other levels that are equally significant, whether employing a pivot or pivot points. If you solely concentrate on the levels, you can pass up other opportunities.
It is best to combine pivots and pivot points with other types of analyses. Despite their importance, pivots and pivot points can whipsaw, which can cause traders to lose money or become confused.
For instance, the price may oscillate around the pivot point, causing a trader to switch from being optimistic to bearish and back again. It’s possible that the price won’t continue to the following anticipated level, like R1 or S1, after passing through a pivot point.
Making Predictions using Pivot Points
Traders on equities and commodity markets employ pivot points. They are used to forecast support and resistance levels in the current or forthcoming session.
They are computed based on the high, low, and closing prices of past trading sessions. Traders can utilise these levels of support and resistance to choose entry and exit locations for stop-loss orders as well as profit takers.
A pivot point is a technical analysis calculation, or indication, that helps to identify the market’s general trend across a range of time frames. The pivot point itself is just the average of the closing prices from the preceding trading day’s high, low, and open prices.
Trading above the pivot point the following day is supposed to represent continued bullish mood, while trading below the pivot point represents continued pessimistic feeling. Here, we discuss pivot point levels’ calculation and practical application.
Using and interpreting Pivot Points
When calculating it, the pivot point itself serves as the main support and resistance. This indicates that at this price, the biggest price fluctuation is anticipated.
Although the other support and resistance levels have less power, they could nevertheless cause big changes in price.
There are two ways to employ pivot points. Finding the broad market trend is the first step. The market is bullish if the pivot point price is broken in an upward direction. It is negative if the price declines past the pivot point.
Utilizing pivot point price levels to enter and exit the markets is the second strategy. For instance, if the price breaks a resistance level, a trader can place a limit order to acquire 100 shares. A trader could also place a stop loss at or close to a support level.
While it sometimes seems like the levels can accurately anticipate price change, other times it seems like they have no effect at all. Profits won’t likely come from depending just on one particular signal, like with any other technical instrument.
The effectiveness of a pivot point strategy depends entirely on the trader and on their capacity to combine it with other technical analysis techniques.
These additional technical tools might include anything from candlestick patterns to moving averages to MACDs in order to define the trend direction. The likelihood of a transaction succeeding increases with the quantity of favourable indicators.
Final Thoughts
Pivot points are an excellent tool for locating regions of support and resistance, but they perform best when used in conjunction with other forms of technical analysis.
Pivot points are based on a straightforward formula, and while they may be valuable to some traders, others may not. The levels drawn on the chart are not guarantees that the price will stop, turn around, or even get there.
In other cases, a level’s price will alternately rise and fall. It should only be used as a part of a comprehensive trading plan, as with all indicators.
Pivot Points in Forex
- What are Pivot Points in Forex?
- Learning about Forex Pivot Points
- Using Pivot Points in Trading
What are Pivot Points in Forex?
In the commodities markets, floor traders created the pivot point indicator to pinpoint probable turning points.
Day traders utilise pivot points in the forex and other markets to identify expected levels of support and resistance and, consequently, potential turning points from bullish to bearish or vice versa.
Pivot points are thought to be potential levels of support and resistance and thus potential market turning points. Multiple levels of support and resistance can be calculated using the pivot point concept.
The high, low, and closing prices from the previous day are used to calculate traditional pivot points.
Learning about Forex Pivot Points
Pivot points, in contrast to the majority of technical indicators, are designed to forecast market turning points. They are calculated using basic math using the high, low, and closing prices from the previous day.
The price at the conclusion of the U.S. “session” is considered the closing price in the forex market, where pivot points are determined utilising the complete 24-hour trading period.
The pivot point itself, the strongest of the indicators, as well as three levels of support and three levels of resistance are all produced by the traditional pivot point calculations.
One way to determine whether a certain trading session has a generally bullish or bearish bias is to look at where the price is situated in relation to the primary pivot point.
The majority of technical analysis utilised by day traders is based on pivot points.
However their accuracy in identifying turning moments may be related to the fact that they are so widely used as an indicator that market behaviour at the provided levels is somewhat self-fulfilling.
It is also possible to determine longer-term pivot points using weekly, monthly, quarterly, or annual pricing.
Using Pivot Points in Trading
No matter how effective pivot points are in identifying turning points, traders still want a workable strategy to consistently succeed with them.
That needs an entry strategy, a stop-loss trigger, and a profit objective or exit signal, much like all other trading systems.
By attempting to estimate where the bulk of other traders may be acting in a similar manner, some day traders use pivot points to determine levels of entry, stops, and profit-taking.
On the internet, retail forex brokers and independent websites both offer free forex pivot point calculators.
Using Pivot Points when Trading Forex
- The Pivot Points 101
- Levels of Support and Resistance
- Pivot calculations
- A probability assessment
- Utilizing the Knowledge
- RSI Divergence at Pivot Support/Resistance
- Setup guidelines
The pivot point and its derivatives are one instrument that gives forex traders probable levels of support and resistance and helps to reduce risk.
When to enter the market, set stops, and take profits can all be decided by using reference points like support and resistance.
However, a lot of novice traders pay excessive attention to technical indicators like the relative strength index and the moving average convergence divergence (MACD) (RSI).
Although helpful, these indications do not pinpoint a specific point where danger is defined. Unknown risk can result in margin calls, but planned risk greatly increases the likelihood of long-term success.
In this, we’ll make the case for why using both pivot points and conventional technical tools is more effective than using just technical tools, and we’ll demonstrate how pivot points can be useful in the forex market.
The Pivot Points 101
As with hinges from which trade swings high or low, a pivot point is utilised to depict a change in market sentiment and to ascertain broad patterns over a long period.
They were initially utilised by floor traders on equity and futures exchanges, but today they are generally used with support and resistance levels to confirm trends and reduce risk.
Similar to other types of trend line analysis, pivot points emphasise the significance of the links between high, low, and closing prices over the course of trading days; hence, the pivot point for the current trading day is determined using prices from the previous trading day.
Although pivot points can be used with almost any trading instrument, they have proven to be very helpful in the forex (FX) market, particularly when trading currency pairings.
Due to their extreme liquidity and enormous trading volume, forex markets are less susceptible to market manipulation, which might normally prevent pivot points from projecting support and resistance.
Levels of Support and Resistance
The support and resistance levels itself depend on more arbitrary placements to assist spot potential breakout trading opportunities, whereas pivot points are determined based on precise calculations to help spot significant resistance and resistance levels.
Support and resistance lines are a theoretical framework used to explain why traders appear hesitant to push an asset’s price past particular levels.
Bullish trading is considered to have encountered resistance when it seems to reach a stable level before stopping and retracing or reversing.
Bearish trading is said to have met support if it appears to strike a floor at a given price before steadily trading upward again.
Traders watch for prices to cross over defined support and resistance levels as a sign that new trends are emerging and as an opportunity for rapid gains. Support and resistance lines are used in many trading methods.
Pivot calculations
The evaluation of support and resistance pivot points between currencies in a forex pair is aided by a number of derivative formulas.
It is possible to monitor these numbers over time to assess the likelihood that prices may surpass particular thresholds. The prices from the previous day are used to start the calculation:
Pivot Point for Current = High (previous) + Low (previous) + Close (previous)
3
The predicted support and resistance levels for the current trading day can then be determined using the pivot point.
- Resistance 1 = (2 x Pivot Point) – Low (previous period)
- Support 1 = (2 x Pivot Point) – High (previous period)
- Resistance 2 = (Pivot Point – Support 1) + Resistance 1
- Support 2 = Pivot Point – (Resistance 1 – Support 1)
- Resistance 3 = (Pivot Point – Support 2) + Resistance 2
- Support 3 = Pivot Point – (Resistance 2 – Support 2)
Compile data for the EUR/USD on the distance between each high and low and each determined resistance (R1, R2, R3) and support level to fully grasp how well pivot points can function (S1, S2, S3).
Making the computation on your own:
*Determine the pivot points, support and resistance levels for a certain period of time, x.
*Subtract the support pivot points (Low-S1, Low-S2, Low-S3) from the day’s actual low.
*Calculate the difference between the day’s actual high and the resistance pivot points (High – R1, High – R2, High – R3).
*The average of each difference should be determined.
The following are the outcomes since the euro was introduced (on January 1, 1999, with the first trading day on January 4, 1999):
*The actual low is often 1 pip lower than Support 1.
*On average, the actual high is one pip below Resistance 1.
*On average, the actual low is 53 pip above Support 2.
*On average, the actual high is 53 pip below Resistance 2.
*The average low is 158 pip’s or more above Support 3.
*On average, the actual high is 159 pip below Resistance 3.
A probability assessment
According to the data, the calculated pivot points S1 and R1 serve as a reliable indicator of the real high and low of the trading day.
More specifically, we counted the days on which the high was greater than each R1, R2, and R3, and the days on which the low was lower than each S1, S2, and S3.
As a result, as of October 12, 2006, there have been 2,026 trading days since the euro’s launch.
*892 times, or 44% of the time, the actual low has been lower than S1.
*853 times, or 42% of the time, the actual high was greater than R1.
*342 times, or 17% of the time, the actual low has been lower than S2.
*A total of 354 occasions, or 17% of the time, the actual high exceeded R2.
*3 percent of the time, or 63 occasions, the actual low was lower than S3.
*52 times, or 3% of the time, the real high was higher than R3.
For example, if you know that the pair slips below S1 44% of the time, you may confidently set a stop below S1 since you know that probability is on your side.
Additionally, since you are aware that the high for the day exceeds R1 only 42% of the time, you might opt to take profits right below R1. Again, the odds are in your favour.
It’s crucial to realise that these are only probabilities and not absolutes. The high is typically 1 pip above R1 and exceeds R1 42% of the time. This does not imply that the high will always be 1 pip below R1 or that the high will exceed R1 four out of the next ten days.
The strength of this knowledge rests in your ability to accurately anticipate areas of support and resistance, establish reference points to set stops and limitations, and, most importantly, minimise risk while positioning yourself for gains.
Utilizing the Knowledge
Potential sources of support and resistance are the pivot point and its derivatives. The setup using a pivot point in conjunction with the well-known RSI oscillator is demonstrated in the samples below.
RSI Divergence at Pivot Support/Resistance
Usually, this trade has a good reward to risk ratio. The current peak has clearly outlined the risk (or low for a buy).
Utilizing weekly data, the pivot points in the aforementioned cases were determined.
The aforementioned illustration demonstrates that from August 16 to August 17, R1 (first circle) held as strong resistance at 1.2854 and the RSI divergence indicated that the upside was constrained.
With a stop at the most recent high and a limit at the pivot point, which is currently the support level, this signals that there may be a chance to go short on a break below R1:
*Short sale at 1.2853.
*Stop at 1.2885, the most recent high.
*Limit at 1.2784, the pivotal number.
With 32 pip of risk, the initial trade resulted in a 69 pip profit. The ratio of benefit to risk was 2.16.
The setting was almost same the next week. A rebound to and barely above R1 at 1.2908, which was followed by bearish divergence, started the week.
The pivot point, which is now support, can be used as a stop and a limit when selling short after the slide back below R1 generates the short signal:
*Short sale at 1.2907.
*Stop at 1.2939, the most recent high.
*Limit at 1.2802 (the pivot point).
This trade had a 32 pip risk and a 105 pip profit. The ratio of benefit to risk was 3.28.
Setup guidelines
- With shorts
- With longs
Setting pivot points is done differently for traders who are bullish and long than for those who are bearish and short.
With shorts
- Determine whether the pivot point’s R1, R2, or R3 has bearish divergence (most common at R1).
- Open a short position with a stop at the most recent swing high when the price declines back below the reference point (which might be the pivot point, R1, R2, or R3).
- At the following level, place a limit (take profit) order. If you sold at R2, R1 would be your initial goal. Former opposition here turns into support, and vice versa.
With longs
- Determine if S1, S2, or S3 is the pivot point’s point of bullish divergence (most common at S1).
- Open a long trade with a stop at the most recent swing low when price recovers back above the reference point (which might be the pivot point, S1, S2, or S3).
- Place a limit (take profit) order at the following level; for example, if you bought at S2, S1 would be your first target. resistance develops from prior support, and vice versa).
Final Thoughts
Pivot points are shifts in the direction of market trade that, when monitored successively, can be used to pinpoint broad price patterns.
They gauge levels of support or resistance in the near future using the high, low, and closing numbers from the previous time period.
The most popular leading indicators in technical analysis may be pivot points.
The implied trading philosophies of the many types of pivot points, each with their own formulas and derivative formulas, are the same.
Pivot points can also show when there is a sudden and significant flood of traders into the market at the same time when used in conjunction with other technical tools.
For range-bound forex traders, these market inflows frequently result in breakouts and profitable trading chances.
They can make educated guesses about which significant price points to enter, exit, or set stop losses using pivot points.
Any time frame’s pivot points can be calculated. Day traders can determine pivot points using daily data, swing traders can determine pivot points using weekly data, and position traders can determine pivot points using monthly data at the start of each month.
Investors can even make approximations of major levels for the upcoming year using annual data. Regardless of the time span, the analysis and trading mentality stay the same.
In other words, the computed pivot points provide the trader a general notion of where support and resistance are for the upcoming period, but the trader must always be ready to respond, as being prepared is the most crucial factor in trading.
Forex Pivot Strategies for Traders
- Pivot points used to the FX market
- Pivot Points’ importance in FX Market openings
- Two Strategies relying on Pivot Points
Pivot points have been utilised for many years by traders and market makers to identify important levels of support and/or resistance.
In the forex market, pivots are also quite popular and can be a very helpful tool for range-bound traders to find entry points as well as for trend and breakout traders to identify the crucial levels that must be broken for a move to be classified as a breakout.
We’ll go through how pivot points are determined, how to use them on the FX market, and how to combine them with other indicators to create different trading strategies in this.
Pivot points used to the FX market
The pivot point is typically regarded as the main level of support or resistance. The 30-minute chart that follows shows the GBP/USD currency pair with pivot levels determined by the daily high, low, and closing values.
Pivot Points’ importance in FX Market openings
The U.S. open, which happens around 8 a.m. EDT, the European open, which happens at 2 a.m. EDT, and the Asian open, which happens at 7 p.m. EDT, are the three market openings that take place on the FX market.
The trading range for the session typically occurs between the pivot point and the first support and resistance levels since many traders play this range, which is something else we observe while trading pivots in the FX market.
As shown in the areas marked in the chart below for the USD/JPY currency pair, prices initially remained within the pivot point and the first resistance level, with the pivot serving as support.
Prices fell lower after the pivot was broken, mostly staying within the pivot and the first support zone.
Breaks frequently happen around one of the market opens, which is an important concept to comprehend when trading pivot points in the FX market.
The sudden surge of traders that simultaneously enter the market is the cause of this. These traders enter the workplace, review the data that was released and how prices traded throughout the previous night, and then modify their portfolios as necessary.
Prices may be constrained for hours between the pivot level and either the support or resistance level during the slower times, such as between the U.S. close (4 P.M. EDT) and the Asian start (7 P.M. EDT) (and occasionally even during the Asian session, which is the quietest trading session).
The ideal setting for range-bound traders is created by this.
Two Strategies relying on Pivot Points
The pivot level can serve as the foundation for many strategies, but the accuracy of applying pivot lines improves when Japanese candlestick forms are also recognised.
You might sell short in expectation of the price falling back below the pivot point, for instance.
If prices traded below the central pivot (P) for the most of the session and then rose above the pivot while also forming a reversal pattern (such as a shooting star, Doji, or hanging man).
A 30-minute USD/CHF chart is displayed below as a superb illustration of this. For the most of the Asian trading session, USD/CHF was range-bound between the first support zone and the pivot level.
Traders started pushing USD/CHF higher to break over the central pivot as soon as Europe entered the market. As the second candle turned into a Doji pattern, the bulls lost control.
The following six hours were spent between the central pivot and the first support zone as prices started to reverse back below the pivot.
In order to profit from the profit spread of at least 80 pip between the pivot point and the first level of support, traders keeping an eye out for this formation might have sold USD/CHF in the candle that followed the doji formation.
Another trading tactic is to watch for prices to move in accordance with the pivot level, which would validate the level as a reliable support or resistance zone.
When employing this sort of strategy, you want the price to cross the pivot level, then reverse and trend back in the direction of the pivot level.
The pivot level is not particularly powerful, and is therefore less effective as a trading signal, if the price continues to move through the pivot point.
The pivot level, however, becomes more crucial and shows that the move lower is an actual break, which means that there may be a continuing fall, if prices pause around that level or “validate” it.
Prices “obeying” the pivot line may be seen in the chart of the GBP/CHF exchange rate over the last 15 minutes. Prices initially mostly stayed inside the pivot and mid-point levels.
GBP/CHF surged and surpassed the pivot level at the start of the European session (2 A.M. EDT). Prices then reversed course to the pivot level, held there, and started to rise once more.
Right before the U.S. market opened (7 A.M. EDT), the pivot level was challenged once more, and traders should have bought GBP/CHF at that point because it had already demonstrated to be a strong support level.
For the traders that used that approach, the GBP/CHF pair rebounded off the level and climbed once more.
Final Thoughts
For years, pivot points have been used by traders and market makers to identify important levels of support and/or resistance.
Since many currency pairs do have a tendency to bounce between these levels, as the aforementioned charts demonstrate, pivots can be particularly well-liked in the FX market.
Range-bound traders will place a sell order when the asset approaches the upper resistance and a buy order close to identified levels of support.
Pivot points also help trend and breakout traders identify important resistance and support levels that must be broken for a move to be considered a breakout.
These technical indications can also be extremely helpful when the market opens.
Knowing the locations of these potential turning points is a great approach for individual investors to become more tuned into market movements and make better transaction selections.
Because they are simple to calculate, pivot points can be used in a variety of trading methods. Pivot points are unquestionably a beneficial addition to your trading toolbox due to their flexibility and relative simplicity.
Using Pivot Point indicator on MT4
The fact that MetaTrader 4 is an expandable FX platform is one of the reasons it is so popular. New indicators or trading algorithms can be easily created by those who are familiar with the MQL4 language.
The massive library of indicators, the bulk of which have been generated by the large user community, is available to download for people who aren’t at that level of coding. Of course, the disadvantage is that they can range in quality.
Ideally, you should employ indicators that have been assembled by experts. Now, MT4 does have a small number of indicators that fit this criterion.
Sadly, a pivot point indicator is not one of these tools that is included in the package. In order to perform this kind of analysis, you will need to obtain a pivot point indicator for MetaTrader 4.
The MetaTrader 4 Supreme Edition (MT5SE) plugin’s pivot point indicator is perhaps the greatest MT4 pivot point indicator for you if you’re interested in using tools that come from a reliable source.
MT4SE is a free MetaTrader plugin that was painstakingly created by qualified programmers.
It has the benefit of providing traders with a plethora of fresh tools all at once from a single trustworthy source.
Instead of needing to download each additional tool and indicator separately, MetaTrader MT5SE comes as a whole bundle.
Examples of some of the tools are the High-Low indicator, Donchian channels, and Keltner channels.
As a result, you also receive a large range of cutting-edge tools when you download the free Forex (FX) pivot point indicator. Once MT4SE has been downloaded and installed, your extra tools will appear in the “Navigator.”
Final words
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