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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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Pivot Points - indicator for MetaTrader 5