Download MetaTrader 5

Indicators: PivotPointUniversal

To add comments, please log in or register
Automated-Trading
Admin
105084
Automated-Trading  

PivotPointUniversal:

The indicator plots Pivot levels for all available history. There are 5 variants of Pivot levels is supported: Classic, Fibonacci, Demark, Camarilla, Woodies. There are 3 calculation periods: daily, weekly, monthly. For the daily pivot levels it's possible to specify the GMT time shift.

Author: Dmitry

Larry
1262
Larry  

I have been looking for a good Pivot tool.  This one is nicely done on being able to change from one algorythem to the next, I like the features you built into it.  I dropped it on a EURUSD just to test it out, and I noticed that that of all of the fomulas you used, only the Camarilla seemed to show pivot point bouncing along the lines laid out.  This seems odd to me like something is missing.

 

I would expect that if the currency was coming from a low, breaking through a pivot line, we would see a retracement back to test the line, if failed it would fall through  drop a little ways then retrace again to test the pivot line and if still failed, it would drop to eventually the previous pivot where it would be tested, if success I would expect it to bounce and continue up. 

 This behavior was only apparent on the Camarillo pivot.  This is why I felt it was missing something.  Feel free to correct me if I am wrong. 

Wally
3
Wally  

Excellent pivot tool Dmitry thanks. :)

You say in the text that we can change to GMT but I don't see any place to put a number, I would like to have the pivots calculated at GMT-6 but I'm clueless where to enter this, can you help me please? 

Boobie
10
Boobie  

May anyone could help me to install this pivots tool; thanks.

It is my first time, sorry

 

martinyk
11
martinyk  
Automated-Trading:

PivotPointUniversal:

Author: Dmitry

good job. i am just concerning about the gmt shift. as i know gmt has no dst. therefore the time shift is 1 hour less then it supposed to be during the daylight saving time. greetings. martin
yisa
3
yisa  

hi, many thanks for your effort. but why I cannot see anyline in my mt5 trader ?

Sergey Golubev
Moderator
97481
Sergey Golubev  
rPIP
3
rPIP  

Thanks for the indicator. This is like the only pivot indicator that there is for MT5.

Sometimes it doesn't show pivot lines when I attache the indicator to mt5 charts and/or when I change time frames pivot lines just disappear. (some times they come back after about 10 seconds though.)

Another thing I wanted to suggest was to add Pivot Mediums to this indicator. Such as Weekly Mind pivots, monthly mids etc.

Thanks very much for your efforts.


-rPIP

Sergey Golubev
Moderator
97481
Sergey Golubev  

Forum on trading, automated trading systems and testing trading strategies

Indicators: Pivot Lines TimeZone

newdigital, 2014.01.30 11:06

How to Use Forex Yearly Pivot Points to Forecast Euro Targets (based on dailyfx article)

  • Pivot points is a popular and easy way that traders can identify potential support and resistance
  • Pivot points are based on a mathematical calculation that uses the previous high, low and close of a specified period; weekly, daily, monthly, yearly
  • Yearly pivots can forecast maximum and minimum price extremes for the coming year as well as areas where price can change direction.

While most traders are familiar with daily, weekly, and even monthly pivots which fit their type of trading, yearly pivots can also be used to forecast future potential support and resistance areas. Buying at or near a significant area of support and selling at a key area of resistance is the main focus of any trader no matter what the market or the duration traded. Yearly pivots can be monitored for those key trading opportunities.


As you can clearly see in the Euro chart above, forex yearly pivots have been plotted. Notice how the Euro rallied up to the R2 pivot and turned around sharply falling over 600 pips in February. Another significant area that can be easily seen showing the power of yearly pivots is the triple touch of the R1 yearly pivot at 1.2910. The third and final touch led to over a 600-pip rally back to the R2 yearly pivot to close out 2013 up over 4%.


Could forex yearly pivots show traders the next move in the Euro? In the chart above the 2014 yearly pivots are plotted on the EURUSD chart. The year is just getting started and the great thing about yearly pivots is only having to draw them once a year! EURUSD is trapped between the central pivot at 1.3461 and R1 at 1.4177. As at the time of this writing, the Euro has not tested either pivot. However, forex traders may be waiting for a move down to the central pivot (1.3461) for a move back toward the R1 (1.4177) yearly pivot resistance.

Alternative scenario is for the Euro to make an immediate run for it up to the R1 level. At R1 pivot resistance, traders may look to take profit on their longs and/or short the Euro at this level. However, a close above R1 could lead to a move higher to the R2 pivot (1.4610). Traders should also consider the possibility of a close below the central pivot that could lead to a prolonged down push to the S1 (1.3028) level.

Forex traders who scalpers, position or swing traders can make use of yearly pivots to locate key areas of support and resistance. Look for future articles on other currency pairs that lay out the yearly pivot ‘landscape’ to help you navigate the forex market.


Thor1n
6
Thor1n  
Excellent work. Can you please add a function to ignore Sunday? Thank you.
anurag bhargava
500
anurag bhargava  
nice job, can you please mark these levels on chart for convenience.
12
To add comments, please log in or register