Pivot Point Indicator for Meta Trader 4. If using H1 or a lower timeframe chart or if using Higher timeframes. This indicator displays forex pivot point indicator pivot points, support and resistance lines regarding intraday trading operations.
It does so by calculating them by an inbuilt formula based on the previous trading session. The resulting lines are there after used as entry and exit points. However, you need to note that the central pivot has a high chance of reversal. On the other hand, the farther away from the central line you move, the weaker the support and resistance lines become making them easy to break. Meta Trader 4 you will even be able to add multi timeframe lines on the chart. Including intra day, daily, weekly and Monthly. Choose your settings and click OK.
Is this daily pivot in this indicator the US trading time? Because naturally I would like to use the US time pivot cause that’s what most use. Leave a Reply Click here to cancel reply. Professional forex traders and market makers use pivot points to identify potential support and resistance levels.