PIVOT PLUS Indicator (Source Code)

Highlights

📊 All Markets

💻 MetaTrader 4

🔓 Unlimited

🖍 Non-Repainting

♻️ All Assets

⏰ All Timeframes

🤖 Set this indicator to auto-trading with NIREDO iTrade Bot

Description

PIVOT PLUS is a technical analysis indicator based on the pivot point used to determine the overall trend of the market over different time frames. The pivot point itself is simply the average of the intraday high and low, and the closing price from the previous trading day. On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.

PIVOT PLUS indicator also draws other support and resistance levels that are projected based on the pivot point calculation. All these levels help traders see where the price could experience support or resistance. Similarly, if the price moves through these levels it lets the trader know the price is trending in that direction.

The video below shows how PIVOT PLUS indicator behaves on a chart, as well as its MQL4 Source Code, which you can also download in MQL4 editable format by the link below.

Video Review

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