Indicators: PivotPointUniversal
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.
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?
May anyone could help me to install this pivots tool; thanks.
It is my first time, sorry
hi, many thanks for your effort. but why I cannot see anyline in my mt5 trader ?
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
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.
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
You agree to website policy and terms of use
PivotPointUniversal:
Author: Dmitry