The Dynamic Pivot indicator for Metatrader 4 provides currency traders with dynamic pivot points along with support and resistance levels.
The indicator appears in the main MT4 chart window.
Dynamic Pivot is a pure price action indicator and can be used in multiple ways.
Trade Example
- Initiate a buy trade if price closes above the dynamic pivot point.
- Initiate a sell trade if price closes below the dynamic pivot point.
The Dynamic Pivot indicator can be used for both trade entry and exit, or as an additional confirmation filter for other strategies and systems.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “dyn-pivot-indicator.mq4” indicator for MT4
Indicator Example Chart (EUR/USD H1)
The example chart below displays the Dynamic Pivot mt4 indicator in action on the trading chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit strategy to trade with the Dynamic Pivot Forex indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Pivot point
Does the indicator repaint? No.
Download Now
Download the “dyn-pivot-indicator.mq4” indicator for Metatrader 4
