PivotPoints indicator calculates and displays monthly, weekly and daily support and resistance levels. It also warns when the price approaches the Pivot levels. Pivot points are potential reversal levels used by banks and financial institutions. They are the basis of most kinds of the technical analysis.
The indicator can calculate Pivot levels using the following methods:
- De Mark.
- РР - central Pivot level.
- S - support level.
- R - resistance level.
- Method - Pivot levels calculation method:
- De Mark.
- Show monthly levels - show/hide monthly levels;
- Show weekly levels - show/hide weekly levels;
- Show daily levels - show/hide daily levels;
- Allow showing the message - enable displaying messages
- Enable sound notification - enable sound notifications.
- The name of the sound file - the sound file name. Only WAV sound files are played. If the field is empty, standard indicator sound is played. The file must be placed to:
- in terminal_directory\Sounds or its subdirectory.
- in terminal_data_directory\MQL5\Files or its subdirectory.
- Offset point for Alerts, pips - activate the notification at a specified amount of points before the level is reached.
- Offset point for clearing Alerts, pips - "reset" the notification after a specified amount of points.