Pips Pivot Monitor
Pips Pivot Monitor is designed for multi-currency trading and works on 14 currency pairs and all timeframes. The indicator implements a day trading strategy, uses the pivot line as an initial trading point and analyzes the average daily price range. Depending on the market situation, the indicator provides Buy or Sell signals for each symbol defining Take Profit and Stop Loss levels, as well as shows a difference (in pips) between the current price and a modified pivot, in which the open price of the current day is considered together with high, low, and close prices of the previous day. If an order is profitable and trend continues, the indicator first specifies a breakeven level in the Stop Loss column. Trailing Stop levels are specified after that. When the price reaches the specified Take Profit level, the indicator shows the new expected Take Profit value in case of a trend continuation. Buy signals are displayed in green, Sell ones are shown in red. If there are no signals, the symbol color is changed to gray. Besides, the indicator displays the sums of trades by Buy and Sell open orders, as well as a trading result. The indicator has no parameters for managing sensitivity. The Coordinates MP_X and MP_Y inputs define location of the table containing results.
The indicator launch options and a usage example are displayed on the video provided below.