The Daily Pivot Points Indicator MT4 is a technical indicator for MetaTrader 4, specifically designed to indicate key pivot levels. It draws 13 pivot lines, 6 support, and 6 resistance levels from a single pivot point on the main chart. The calculation of pivot points relies on three parameters: the high, the low, and the closing price of the prior trading session. These levels indicate potential support and resistance zones where price movement may reverse. Therefore it helps determine take-profit levels, entry points, and stop-loss levels for trades. Consequently, these levels create opportunities for traders to profit from potential trend changes. Additionally, the indicator is customizable, making it a valuable asset for traders aiming to identify potential reversal points for trade entry and exit points.

This indicator is suitable for traders of all skill levels and across all time frames. Its versatility extends to trading multiple currency pairs within any forex trading system or strategy, for additional indication of potential reversal points.

Indicator Settings

How to Install Daily Pivot Points Indicator MT4

Download and extract files in the MetaTrader “Indicators” Data Folder found in the Main Menu File section:

The “Indicators” folder is located in the “MQL4” folder.
Restart MetaTrader Platform.

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