Price pivot points
An indicator that shows price reversal points on the chart. Using RSI and other standard indicators, the indicator determines the price reversal points and shows them on the chart with arrows. The indicator does not redraw its values and in 95% of cases it shows accurate signals. This indicator works on all currency pairs and all timeframes.
How to trade with this indicator (recommendations):
We recommend opening trades in the direction of the arrow that appears. If a blue arrow appears, open a buy order. If a red arrow appears, open a sell order. TakeProfit recommend placing an average of 15-25 points on the GBPUSD currency pair. Other pairs need to be looked at separately. StopLoss is set 2 times more than TakeProfit, or we close the order when a signal appears in the opposite direction. We recommend not to trade before the release of important news. It is during this period that the indicator sometimes gives false signals, because the market becomes unpredictable. Also, this indicator can be combined with existing trading systems to confirm signals.
Benefits of the indicator:
- not redrawn
- signal accuracy average 95%
- very easy to use
- no additional settings required
- works on all currency pairs
- works on all timeframes
- Rsi_Short - fast RSI period
- Rsi_Long - slow RSI period
- type - price type. There are CLOSE, OPEN, HIGH, LOW, WEIGHTED.