Pivot Points Manual Indicator MT4

Pivot Points Manual Indicator MT4

Summary

An indicator that draws pivot points (PP) on the chart. This indicator requires manual input of the high, low and close (HLC) prices but does not draw them on the chart.

The indicator 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 HLC 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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