This indicator draws the daily pivot point on any Forex chart. Technical traders look to buy above the daily pivot (PP) and look to sell below the daily pivot point.
Price above daily pivot (bullish): Look for buy signals
Price below daily pivot (bearish): look for sell signals
Tip: Use pivot points in conjunction with a trading system in order to determine the best entry points.
Ignore sell signals above the daily pivot point, ignore buy signals below the daily pivot point.
Currency pairs: any
Preferred Time frames: up to the 4 hour chart
Configurable Indicator Options
Colors, Days, Draw…
GBP/USD Hourly Chart Example
How to install the Daily Pivot Points custom indicator in Metatrader 4?
- Download the daily-pivot-points indicator.mq4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.