The indicator displays the price pivot point.
When the candles form a pattern, where all their wicks can be crossed by a line, as a rule, the price reverses.
The number of candles and the history period for searching the pattern can be set in the indicator parameters.
MT4 Indicators – Download Instructions
Pivot Point is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Pivot Point provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install Pivot Point.mq4?
- Download Pivot Point.mq4
- Copy Pivot Point.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on Pivot Point.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Pivot Point.mq4 is available on your Chart
How to remove Pivot Point.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
MT4 Indicators Download below: