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Indicators

Pivot Points - indicator for MetaTrader 5

Mladen Rakic | English Русский 中文 Español Deutsch 日本語 Português
Views:
32474
Rating:
(50)
Published:
2016.10.27 17:22
Updated:
2016.11.22 07:32
pivot_points.mq5 (10.99 KB) view
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Pivot point indicator with an addition of 4 ways of calculating pivot points :

  • (Previous High +Previous Low + Previous Close)/3
  • (Previous High +Previous Low + Previous Close + Previous Close)/4
  • (Previous High +Previous Low + Previous Close + Open)/4
  •  (Previous High +Previous Low + Open + Open)/4

Added "alternate way" of calculating pivot support and resistance lines - I found that in a lot of versions the R3 and S3 are calculated differently than the original (it effectively makes it "tighter" than the original) so I decided to enable that way too.


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