Pivot Points MT5

Pivot Points MT5 is a universal color multicurrency/multisymbol indicator of the Pivot Points levels systems. You can select one of its three versions: Standard Old, Standard New and Fibo. It plots pivot levels for financial instruments in a separate window.

The system will automatically calculate the Pivot Point on the basis of market data for the previous day (PERIOD_D1) and the system of support and resistance levels, three in each.

A user can choose colors for the indicator lines.

The only difference between Standard New and Standard Old versions is the method of calculation of the third level of support (S3) and resistance (R3).

Inputs

1. Calculation Method - the Pivot Points calculation method:
• Standard Old.
• Standard New.
• Fibonacci.
2. Bars Number - number of bars to be displayed in a separate window.
3. Currency Name - name of the financial instrument.
4. Color of Bid Line - color of the Bid line.
5. Color of Level R3 - color of the R3 resistance line.
6. Color of Level R2 - color of the R2 resistance line.
7. Color of Level R1 - color of the R1 resistance line.
8. Color of Level P - color of the pivot point.
9. Color of Level S1 - color of the S1 support line.
10. Color of Level S2 - color of the S2 support line.
11. Color of Level S3 - color of the S3 support line.
12. Print Messages - permission for logging messages.