Market / MetaTrader 4 / Indicators /

Custom Pivots

30 USD

Demo downloaded: 607

Published: 7 July 2017

Current version: 1.1

Custom Pivots

4.2

Indicators
Tsvetan Tsvetanov
Version: 1.1
Updated: 14 November 2017
Activations: 8

Pivot Points were originally used by floor traders to set key levels. Floor traders are the original day traders. They deal in a very fast moving environment with a short-term focus. At the beginning of the trading day, floor traders would look at the previous day's high, low and close to calculate a Pivot Point for the current trading day. With this Pivot Point as the base, further calculations were used to set support 1, support 2, resistance 1 and resistance 2. These levels would then be used to assist their trading throughout the day.

Pivot Points are one of the simplest and oldest tools for technical analysis. Today traders from all over the world successfully incorporate Pivot Points in their strategies. However, this popular professional tool is not included by default in MetaTrader 4. That's why I decided to create good and affordable Pivot Points indicator for MetaTrader 4. This indicator offers wide range of options for personal customization.

Main features

Multiple types of calculation for the levels.
Automatic vertical scaling of the chart with adjustable scaling ratio.
Adjustable time frames.
Ability to use multiple instances with different settings on the same chart.
Extensive options for visual customization.
Push notifications.
Quick button to temporarily hide or show the indicator.
The indicator works in the strategy tester.

In short, this is one of the best Pivot Points indicators available for MetaTrader 4. Simple professional tool which deserves to be in your toolbox.

Indicator settings

Push_Notifications - enable/disable.
Magic_ID - if you want to display 2 or more indicator instances on the same chart you have to set different id for each instance.
Hide_by_Default - hide or show the indicator by default.
Button_X, Button_Y - position of the button.
Button_Color.
Button_Text_Color.
Chart_Auto_Scale - enables/disables the automatic vertical chart scale.
Chart_Auto_Scale_Multiplier - ratio for the vertical chart scale.
Number_of_Periods - number of periods on which to draw pivot points. 1 means only the current period.
Time_Frame - time frame for the calculation of the indicator. You can set any time frame from M5 to Monthly.

Type - Select the type of calculation for the levels.
- Standard - the classic formula.
- Fibonacci - Fibonacci formula.
- ATR - the Average True Range (20) is used for the calculation of the levels. For example R1=P+ATR*0.5; R2=P+ATR*1; R3=P+ATR*1.5;
- Fixed - you can set fixed distances for the levels. The values are in points!

Show_Pivot_Levels - enables/disables the horizontal levels.
Colors of the levels.
Width of the levels.

Show_Period_Separators - enables/disables the vertical separators.
Color of the separators.

Show_Color_Shades - enables/disables the shaded areas between the levels.
Colors of the shades.

Show_Text_Info - enables/disables the text.
Font.
Font_Size.
Font_Color.

more...

1754

Razial187 2020.07.13 05:38 #

Amazing indicator. Better than any pivot indicators out there. I love that you can use intraday with it. I wish it would alert you when specific levels were hit.

560

John Greydanus 2018.08.05 01:39 #

Thank you for this top notch and valuable tool.

I have one request though - can you also add the levels to 5 ?

Also, user adjustable levels for Fibonacci, say 0.786 is popular (not so important for me, using standard levels for now)

Very good tool and the price is worth it, once learn all the settings, it is excellent.

Update: still using this, not for the fancy colors, just for the price levels

But it really does need extra levels, as I said before 0.782, and then on to 1.382, 1.618 and 2.000

I use it on Weekly charts and there have been some wild swings, once price goes past R3 or S3 there is no way to gauge the relative move

Thanks, John

482

Francis K N Ho 2017.08.23 05:11 #

Thank you for this excellent and excellent value tool.

I have one request though - can you also add the mid-levels?

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This indicator is using the Central Limit Theorem in combination with historical volatility and Fibonacci ratios in order to create unique type of chart tool called Projected Volatility Distribution. This tool allows you to perform highly accurate intraday technical analysis where in a split second you can detect overbought and oversold conditions as well as strong trends. In addition you have at your disposal multi-functional panel which shows signals in real time and gives you the ability to o

49 USD

SDX is our latest and most advanced dashboard for manual trading. The app is based on our proven grid platform and offers unique trading opportunities for both experienced and new traders. This unique combination of innovative tools is designed to simplify the trading process and to give you real advantage. The system is ideal for short term trend following, counter-trend trading and scalping on the Forex market. Main Features Ability to work simultaneously with 10 pairs from one screen. Abili

99 USD

This indicator displays Bollinger Bands signals for multiple symbols and multiple time frames. The signals are created as a simple ratios which represent the distance between the current price and the moving average measured in standard deviations. This way we create a very versatile and easy to use indicator which helps us to identify not only the strongest trends but also the most overbought and oversold conditions. Features Accurate signals in real time for multiple time frames and multiple

48 USD

This indicator is based on the classic Pivot Points concept combined with additional optimizations and advanced features. The levels of support and resistance are calculated by taking into account the average historical volatility. The added multi-symbol scanner allows you to detect the best conditions and trade setups. You can see in real time the current situation for all of your favorite symbols and you can switch the chart to any symbol with one click. The build in alert system allows you

49 USD

This indicator allows you to analyze the hidden trends and correlations between the 8 most traded currencies via unique strength meter which creates multiple charts in a single window based on the price action of each currency in relation to all other currencies. The indicator also includes interactive panel where you can see the trends for all 28 pairs as well as the distance to the highest and the lowest price for the selected period. With this panel you can switch between currency pairs with

89 USD

30 USD

Pivots Points are significant levels traders can use to determine directional movement, support and resistance. Pivot Points use the prior period's high, low and close to formulate future support and resistance. In this regard, Pivot Points are predictive and leading indicators. Pivot Points were originally used by floor traders to set key levels. Floor traders are the original day traders. They deal in a very fast moving environment with a short-term focus. At the beginning of the trading day,

30 USD

139 USD

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1754

Razial187 2020.07.13 05:38 #

Amazing indicator. Better than any pivot indicators out there. I love that you can use intraday with it. I wish it would alert you when specific levels were hit.

423

yigtum 2020.01.18 21:38 #

NO ANSWERS.. THE SYSTEM İS WRONG.

560

John Greydanus 2018.08.05 01:39 #

Thank you for this top notch and valuable tool.

I have one request though - can you also add the levels to 5 ?

Also, user adjustable levels for Fibonacci, say 0.786 is popular (not so important for me, using standard levels for now)

Very good tool and the price is worth it, once learn all the settings, it is excellent.

Update: still using this, not for the fancy colors, just for the price levels

But it really does need extra levels, as I said before 0.782, and then on to 1.382, 1.618 and 2.000

I use it on Weekly charts and there have been some wild swings, once price goes past R3 or S3 there is no way to gauge the relative move

Thanks, John

482

Francis K N Ho 2017.08.23 05:11 #

Thank you for this excellent and excellent value tool.

I have one request though - can you also add the mid-levels?

1525

pnutfx503 2017.08.10 18:49 #

Very good tool and the price is worth it

Version 1.1 2017.11.14

Added push notifications.