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Pivot Points indicator - all important levels in one

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Pivot points are one of the most important components of trading. Introducing the Pivot Points indicator, which can automatically plot levels on a chart.

It uses the best-known calculation methods such as Classic, Camarilla, Woody, Fibonacci and CPR to automatically generate the most important pivot levels in the MT4 terminal.

This is probably one of the best Pivot indicators for MT4. You can also download it for free without having to register.

Features

  • Platform: MetaTrader4;
  • Currency pairs: any;
  • Timeframe: any;
  • Trading time: round the clock;
  • We recommend using ECN brokers with low spreads.

Features of the Pivot Points indicator

The Pivot points indicator shows the previous day's range and indicates that price is likely to reach yesterday's closing point. Thus, daily price data is used for the calculation.

All Pivot levels in this situation serve as both support and resistance.

all pivot poins indicator mt4 sr levels

By seeing the levels of the indicator, you can detect various price movements. One of the features of the Pivots Point indicator is that the longer you use it, the clearer the price interaction will become.

Calculation modes and formulas

HIGH (H), LOW (L) and CLOSE (C) values for the previous period can be used to calculate levels; usually a day, week, month or hour.

When calculating Pivots, the concept of RANGE (R) also applies. Its value can be determined by the formula: H - L.

calculation model

The differences between forex and the stock market should also be taken into account.

Pivot levels were first used in the stock market, where the previous day's closing price is extremely important and has a significant impact on the psychological behaviour of traders on the following day.

Forex, on the other hand, operates around the clock; so the end of one trading day corresponds to the beginning of the next.

Classic

This is the most common method of calculating Pivot Points. The main (blue) line here defines the role of a key support/resistance level.

calculation model classic

Camarilla

Camarilla levels are somewhat closer to the current price, so there is more interaction with them. This method is therefore suitable for people engaged in short-term trading.

calculation model camarilla

It should be added here that the PP formula differs from the well-known Camarilla approach in several ways. Firstly, the calculations have been adjusted because the conventional method gives a level which does not follow the logic of other support and resistance levels.

Woodie

This method is identical to the original method, except that the closing price of the period is emphasised when calculating the PP baseline.

calculation model woodie

Fibonacci

Traders often use Fibonacci numbers in the forex market. Turning points are no different. Resistance and support levels are calculated using this approach by multiplying the range (R) by the appropriate Fibonacci numbers.

calculation model fibonacci

Central Pivot Range (CPR)

This is a more advanced version of traditional pivot point calculations. This indicator is unique in that it has no support or resistance levels. The Central Pivot Range consists of three pivot lines: the central line and the upper and lower limits.

CPR helps predict future market conditions by analysing whether reversal lines rise or fall over time and whether range widths narrow or widen.

If the CPR is narrow for several days, it usually indicates a big breakout or breakdown in the near future. On the other hand, if the market closes above the daily CPR, it could be a hint of optimism for the next day.

calculation model cpr

Settings

Presented as an All-in-One. As this MT4 indicator combines all the most common functions, you can customise it to your liking.

all pivot poins indicator mt4 settings

  • Method Calculation Method - you need to choose a method for calculating Pivot Points: Classic, Camarilla, Woody and Fibonacci. The formulas for each of these have already been described above.
  • Calculation Period - Defines the period for which the High, Low, Close values will be taken.
  • Available periods:
    • Hourly;
    • Daily;
    • Weekly;
    • Monthly.
  • Number of Periods to show - several previous periods to be displayed in the graph. This option is not taken into account if the "Show current period only" option is set.
  • Show Only Recent Period - display one or more billing periods.
  • Depth of Levels - limits the number of support and resistance lines displayed on the chart.
  • Right Shift - proposes to continue the line for the entire length of the right-hand indent on the graph.
  • Color Scheme - can be used to automatically navigate through the colour scheme. You can also manually change the background colour.

Conclusion

all pivot poins indicator mt4 conclusion

Which of these approaches to calculating Pivot Points is most effective?

There is no such thing as the best or the worst way. In fact, either one can work well and you should choose one depending on your trading preferences.

If you liked the All Pivot Points indicator, please share it with your friends, colleagues, acquaintances on the buttons below.

All Pivot Points Version:1.06

Скачать индикатор All Pivot Points для МТ4. Date
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2022-05-10
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