DailyPivotPoints - indicador para MetaTrader 4

In such a way, the DailyPivot Points indicator:

• forecasts the range of prices variation;
  

• demonstrates the possible price stops;
  

• demonstrates the possible points of changing the direction of price movement.
  

If the market on the current day opens above the equilibrium point, then it is the signal for opening long positions. If the market opens below the equilibrium point, then the current day is favourable for opening short positions.

PP = (HIGH + LOW + CLOSE) / 3  

RES1.0 = 2*PP - LOW

RES2.0 = PP + (HIGH -LOW)
RES3.0 = 2*PP + (HIGH – 2*LOW)

SUP1.0 = 2*PP – HIGH

SUP2.0 = PP - (HIGH – LOW)

SUP3.0 = 2*PP - (2*HIGH – LOW)

RES0.5 = (PP + RES1.0) / 2

RES1.5 = (RES1.0 + RES2.0) / 2

RES2.5 = (RES2.0 + RES3.0) / 2

SUP0.5 = (PP + SUP1.0) / 2

SUP1.5 = (SUP1.0 + SUP2.0) / 2

Where:

HIGH — the maximum price of the previous day;
LOW — the minimum price of the previous day;
CLOSE — the close price of the previous day;
PP — the equilibrium point (yeserdays's typical price);
RES0.5, RES1.0, RES1.5, RES2.0, RES2.5, RES3.0 — the check points (resistance levels);
SUP0.5, SUP1.0, SUP1.5, SUP2.0, SUP2.5, SUP3.0 — the check points (support levels).