Daily Pivot Points – Classic, Fibonacci and Camarilla - indicator for MetaTrader 5

PivotPoints plots the daily pivot point and three levels of resistance and support, calculated from the previous day’s high, low and close. Pivot levels are a classic reference point for intraday traders because many market participants monitor the same price levels.

What it displays:

- PP: the pivot point (gold)

- R1, R2, R3: resistance levels (red)

- S1, S2, S3: support levels (green)

- The levels for the last few days, each valid for its own day

Available formulas:

- Classic: PP = (High + Low + Close) / 3, R1 = 2 × PP – Low, S1 = 2 × PP – High, R2/S2 = PP ± range, R3/S3 extended

- Fibonacci: PP plus and minus 0.382, 0.618 and 1.000 of the previous day’s range

- Camarilla: close plus and minus 1.1 × range / 12, / 6 and / 4

Inputs:

- Formula, number of days to plot

- Text labels on/off, colour of pivot, resistance and support levels

Notes:

- Works on any symbol and any timeframe; the levels are derived from the daily candles

- The day’s levels are fixed at the day’s open and do not repaint

- It is an information tool, not a trading system: it does not guarantee any profit

How to use:

1. Copy PivotPoints.mq5 into the MQL5\Indicators folder of your trading platform (File – Open Data Folder) and compile it in MetaEditor.

2. Drag PivotPoints from the Navigator window onto a chart.

3. Select your preferred formula in the ‘Inputs’ tab.

Tips:

- Observe how the price reacts when it reaches PP, R1 or S1 before looking at the outer levels.

- Combine the pivot points with the previous day’s high and low to identify areas where several levels converge.