Pivot Points and OHLC Manual Indicator MT4

Pivot Points and OHLC Manual Indicator MT4

Summary

A two in one indicator that draws pivot points (PP) and open, high, low and close (OHLC) prices on the chart. This indicator requires manual input of the OHLC prices and then draws these levels on the chart.

The indicator also automatically calculates PP and S1, S2, S3, R1, R2, R3 and draws them on the chart.

Key Benefits

Pivot points (PP) are a common indicator used by traders and are worked out from the previous day’s HLC prices. They are used to predict support and resistance levels in the current or upcoming trading session. Support and resistance levels are key levels for trade analysis and management (entry, exit and risk levels).

This indicator is useful as it automatically calculates and plots the PP on the charts for you. This indicator allows manual input of the OHLC prices which is useful as many brokers will display out of hours trading action on charts meaning that automatic indicators may display technically incorrect levels.

 

For full indicator details and inputs visit the indicator page HERE

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