Pivot Point Fibo RSJ is a free indicator for MetaTrader 5 that draws the daily pivot point (PP) and up to 7 resistance levels (R1 to R7) and 7 support levels (S1 to S7) on the chart. It is an indicator only: it never opens, closes or changes orders.
What it shows
- A set of dashed horizontal lines for each day: the pivot point PP in the middle, the resistances R1 to R7 above it and the supports S1 to S7 below it.
- The levels of each day are based on the previous day and stay fixed for the whole day. On the current day the lines run to the end of the day, to the right of the last candle, so you see each level before price gets there.
- Each pair of levels has its own color (R1 and S1 the same, R2 and S2 the same, and so on), so the distance from the pivot is easy to read.
- Past days keep their own levels, so you can review how price behaved around them.
- The value of every line is shown in the Data Window (Ctrl+D) when you move the mouse over the chart.
How to add it to the chart
- Open the Navigator (Ctrl+N), expand Indicators > Market and drag Pivot Point Fibo RSJ onto the chart (or double-click it).
- In the Inputs tab choose the pivot type and the number of levels; in the Colors tab change colors, widths and styles if you wish. Click OK.
- It is designed for intraday charts (M1 to H4), where you see the levels change from one day to the next.
Inputs
PIVOTS CONFIGURATIONS
- PIVOT TYPE (default: PIVOT_FIBO_RSJ2) — the set of levels drawn:
- PIVOT_FIBO_RSJ1 — levels closest to the pivot (narrowest spacing), suited to calm markets and short moves.
- PIVOT_FIBO_RSJ2 — intermediate spacing (default).
- PIVOT_FIBO_RSJ3 — widest spacing, suited to volatile markets and larger moves.
- PIVOT_CLASSIC — the classic pivot point levels.
- Minimum PIVOT LEVELS (default: PIVOT_7_LEVELS) — how many levels are drawn on each side of the pivot: from PIVOT_3_LEVELS (PP, R1 to R3 and S1 to S3) to PIVOT_7_LEVELS (all 15 lines). Fewer levels keep the chart cleaner.
Colors
All lines are dashed, width 2. Default colors (R and S of the same number share the color):
- R / S 7: FireBrick
- R / S 6: Sienna
- R / S 5: Blue
- R / S 4: Violet
- R / S 3: Maroon
- R / S 2: OrangeRed
- R / S 1: Orange
- PP: YellowGreen
You can change each line in the Colors tab. To hide a single line, set its color to None.
Tips and frequent questions
- Which markets? Any symbol of your broker: forex, indices, stocks, futures of any exchange (e.g. B3, CME and others), metals and CFDs.
- When does a new day start? At midnight of the broker's server time, the same time used by the chart.
- Lines too close together? Choose a wider pivot type (RSJ2 or RSJ3) or reduce the number of levels.
- No lines on the first day of the chart? The levels of a day need the previous day; scroll back or load more history.
- You can attach the indicator several times with different pivot types to compare them.
Download
Pivot Point Fibo RSJ — free on the MQL5 Market.
Questions and suggestions: send me a private message through my MQL5 profile.
Trading involves risk of loss. The indicator shows market information; it does not forecast prices or guarantee results.
