Pivot points are very useful for trading the Forex market and for all traders in general also. By using pivot points, you can determine which price range is important, and even where the price is likely to move.
In particular, the pivot point indicator for MT4 introduced here can also display camarilla pivot points, and can also display intermediate lines. There are many other features, so definitely check it out below!
In the image above, the pivot point for 4 hours is displayed on the 1-hour chart. A place that supports multiple timeframes (MTF) like this is also attractive. For example, a 15-minute chart can show the pivot point of a 1-hour chart. Therefore, it is especially recommended for those who do MTF analysis and trading.
Also, this indicator is rich in features. First, you can view the camarilla pivot. You can also display the middle line between each resistance line and support line. In addition, the high price of the day and the range of the previous day and the day are also displayed in the upper right.
Tips for use: As with a normal pivot, let's use R1 to 3 as a resistance band and S1 to 3 as a support band. Of course, it does not matter if you use your own. Also, MTF display allows you to easily check pivots of other time frames. It may be better to stop buying if you want to place a buy order but the upper time frame R1 is immediately above.
Compatibility: For MT4
Download "PivotCustomTime" for free from the button below
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