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Pivot Points - indicator for MetaTrader 5

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votes: 12
2016.10.27 17:22
2016.11.22 07:32

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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