Watch how to download trading robots for free
Find us on Twitter!
Join our fan page
Interesting script?
So post a link to it -
let others appraise it
You liked the script? Try it in the MetaTrader 5 terminal

PivotPoint - indicator for MetaTrader 5

Published by:
2010.04.01 16:17
2016.11.22 07:32
pivot.mq5 (4.25 KB) view

Pivot Points are always very useful for trading, this is a simple way to have some idea of where the market is heading during the day.

The indicator also provides the first three supports and resistances.

The formulae I used are:

Resistance 3 = High + 2*(Pivot - Low)
Resistance 2 = Pivot + (R1 - S1)
Resistance 1 = 2 * Pivot - Low
Pivot Point = ( High + Close + Low )/3
Support 1 = 2 * Pivot - High
Support 2 = Pivot - (R1 - S1)
Support 3 = Low - 2*(High - Pivot)

It uses the data from the bar of the previous day.

The orange line is the pivot point of the day, the red lines are supports and the green lines are resistances.

AdoSuite v 1.0 AdoSuite v 1.0

Classes for working with databases through ODBC and OLE DB interfaces

WoodiesCCI WoodiesCCI

Indicator for Woodie’s CCI trading strategy.

iMovment iMovment

The indicator plots the candles with different colors depending on the trend direction and price movement.

iBBFill iBBFill

The indicator plots the Bollinger Bands ®, filled with different colors depending on the trend direction.