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Indicators

RJO Daily Pivot Levels Classic and Fibonacci for MT5 - indicator for MetaTrader 5

Jodi Renaldi
Jodi Renaldi

Jodi Renaldi

1 code
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RJO Daily Pivot Levels is a lightweight Daily Pivot Points indicator for MetaTrader 5.

The indicator calculates the current day's pivot levels using the High, Low and Close of the previous completed D1 candle.

Features:

  • Pivot Point (PP)
  • Resistance levels R1, R2 and R3
  • Support levels S1, S2 and S3
  • Classic Pivot calculation
  • Fibonacci Pivot calculation
  • Works on all chart timeframes
  • Individual levels can be enabled or disabled
  • Customizable line colors, styles and widths
  • Optional price labels
  • Uses the previous completed daily candle

Classic method:
PP = (High + Low + Close) / 3

Fibonacci method:
Levels are calculated from PP using 0.382, 0.618 and 1.000 of the previous day's range.

The indicator does not open or manage trades. It is intended as a simple support and resistance analysis tool.

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