The Pivot Point indicator for Metatrader 4 based on Pine Script v4 calculates pivot points in real-time based on the Pine Script v4 for Tradingview.
The indicator is a powerful tool that can be used to buy dips in rising markets and sell rallies in falling markets.
The Pivot Points indicator tends to work the best when applied to the higher time frames.
It can be easily combined with other tools to pinpoint entries and exits more accurately.
Key Points
- Real-Time Calculations: The indicator calculates pivot points in real time for precise market analysis.
- Buy and Sell Signals: Effectively buy dips in rising markets and sell rallies in falling markets.
- Higher Time Frames: Works best when applied to higher time frames for improved accuracy.
- Combines with Other Tools: This can be easily integrated with other indicators to refine entry and exit points.
Test the indicator first on a demo account before running it on a live trading account.
Free Download
Download the “pivots pine v4.mq4” MT4 indicator
Trading Chart
The EUR/USD 1-hour chart below demonstrates the Pivot Point indicator in action, showcasing how it provides clear buy and sell signals.
Basic Trading Signals
Signals from the Pivot Point indicator based on Pine Script v4 for Metatrader 4 are easy to interpret and work as follows:
BUY:
- During rising markets, open a buy trade when the price touches the red pivot low line
- Add a protective stop loss a few pips below the most recent swing low.
- Exit the buy trade when the price touches the red pivot high line.
SELL:
- During declining markets, open a sell trade when the price touches the red pivot high line
- Add a protective stop loss a few pips above the most recent swing high.
- Exit the sell trade when the price touches the red pivot low line.
Download This Forex Indicator
Download the “pivots pine v4.mq4” MT4 indicator
Pivot Points & 200 EMA Trading Strategy (MT4)
🛠️ Strategy Setup
- Platform: MetaTrader 4
- Timeframe: 15M, 30M, or 1H
- Pairs: Major currency pairs (e.g., EUR/USD, GBP/USD)
- Indicators Required: Pivot Points (v4 logic) + 200 EMA
Buy Entry Conditions
- Price is above the 200 EMA (bullish trend).
- Price pulls back to the nearest Pivot Support level (S1, S2).
- Wait for a bullish candlestick pattern (e.g., engulfing or pin bar) near support.
- Enter long after candle close confirmation.
Stop Loss: Below the nearest pivot support level or recent swing low.
Take Profit: Near the next Pivot level above (e.g., entry near S1 → target R1 or Pivot).
Sell Entry Conditions
- Price is below the 200 EMA (bearish trend).
- Price retraces up to a Pivot Resistance level (R1, R2).
- Wait for a bearish candlestick confirmation (e.g., bearish engulfing or shooting star).
- Enter short after the confirmation candle closes.
Stop Loss: Above the nearest pivot resistance or recent swing high.
Take Profit: Target the next lower Pivot level (e.g., entry at R1 → target Pivot or S1).
Risk Management & Tips
- Use a minimum 1:2 risk-to-reward ratio.
- Avoid trading during high-impact news events.
- Confirm signals with volume or other momentum indicators if desired.
- Backtest the strategy on your preferred pair and timeframe.
Adjustable Parameters & Settings
The Pivot Point indicator offers adjustable parameters, including right value, left value, and color settings.
Feel free to explore these options to create a personalized setup that aligns with your trading strategy.
More Information
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: works on any time frame
Indicator Type: pivot points
How can the Pivot Point indicator based on Pine Script v4 be installed in Metatrader 4?
- Copy and paste the pivots pine v4.mq4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
Summary
The Pivot Point indicator, based on Pine Script v4 is a versatile and powerful tool for forex traders.
By calculating pivot points in real-time, it helps traders identify optimal buy and sell opportunities in both rising and falling markets.
Its effectiveness on higher time frames and compatibility with other indicators make it an invaluable asset for enhancing trading strategies.
