Any help with pivot points????

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Hi

Obviously I'm new, very "green' and not very computor literate!!! I want to put 4hr pivot points (published in forexaction.com) on a 1hr chart daily pivot points on a 4 hour chart and 1 hour pivot points on a 1 hr chart!

Metatrader4 doesn't have a pivot point indicator (that i can find) Any help from you "young" experts (I'm 72) would be greatly appreciated.

Peter

 

hey everyone im trying to find a 4H Pivot point codec for my MT4 platform. i have been googling all over and i cant find one. please help

 

Hello friends

Here I found the formula of calculating Pivots.

The formula for calculating Pivot points is next

Major 5 levels:

R2 = Pivot + (High — Low) (same as R2 = Pivot + (R1 — S1))

R1 = 2 * Pivot — Low

Pivot = (High + Close + Low) / 3

S1 = 2 * Pivot — High

S2 = Pivot — (High — Low) (same as S2 = Pivot — (R1 — S1))

Additional levels:

R3 = High + 2 * (Pivot — Low)

S3 = Low — 2 * (High — Pivot)

Midpoint between R1 and R2 = R1 + (R2 — R1) / 2

Midpoint between Pivot Point and R1 = Pivot + (R1 — Pivot) / 2

 

If you are using pivot levels to trade your breakout strategy, be careful. That does not work.

 
fxking25:
hey everyone im trying to find a 4H Pivot point codec for my MT4 platform. i have been googling all over and i cant find one. please help

same here, i'll let you know when i get one

 

Pivot point work best on highly liquid market, like the spot currency market, but they can also be used in other market as well.

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