Active Pivot Levels MT5
- Robert Gerald Wood
- Version: 1.30
- Updated: 4 November 2021
- Activations: 5
Pivot levels are a well established technical level that's recognised in every market.
This indicator will draw the current Quarterly, Monthly, Weekly, Daily and four-hourly pivots on the chart, for any symbol. You can also show the Suppport and Resistance levels for each period and choose which to display from levels 1 to 4.
Choose the type of Pivot from:
Please note, DeMark pivots have a single Support and Resistance level as per the original specification.
The indicator wall change the way the lines are drawn if the line has been touched by price. This can be very helpful and the strength of the lines support or resistance diminishes considerably once touched.
You can choose to show the Predicted pivot level, for each of the time periods. This will use the same calculation as the normal pivots, but will work on the currently incomplete timeframes. As such it is best used towards the end of that period, when price has already covered the majority of its range.
This is a very configurable Indicator, so you can get it working as you prefer.