Auto Pivot Point Forex Indicator (MT4)

About The Indicator

The Auto Pivot Point Forex indicator for Metatrader 4 draws the daily, weekly, and monthly pivot points on the activity chart.

After loading the indicator onto the chart, all aforementioned pivot points will appear directly on the chart.

The indicator also plots the accompanied support and resistance levels on the chart for the daily, weekly, and monthly pivot points.

The idea behind pivot points:

• A bullish trend occurs when the price is trading above the pivot point.
• A bearish trend occurs when the price is trading below the pivot point.

The indicator works on all trading instruments (Forex, CFD stocks, Indices, Cryptocurrencies, Commodities,..).

Free Download

Download the “Auto Pivot.mq4” indicator for MT4

Key Features

• Automatically calculates and plots daily, weekly, and monthly pivot points.
• Displays multiple support and resistance levels based on pivot calculations.
• Non-repainting and reliable for consistent trading signals.
• Suitable for various trading styles: scalping, day trading, and swing trading.
• Compatible with all currency pairs and other financial instruments.
• Easy to use and customize with adjustable color and style settings.
• Helps identify potential reversal and breakout zones efficiently.

Indicator Example Chart (EUR/USD M15)

How to Trade Using the Auto Pivot Point Indicator

Buy Setup:

• Confirm the overall market trend is upwards.
• Enter a buy trade when the candlestick closes above the daily pivot point.
• Set a take profit at the next resistance level or use your preferred method.

Sell Setup:

• Confirm the overall market trend is downwards.
• Enter a sell trade when the candlestick closes below the daily pivot point.
• Set a take profit at the next support level or use your preferred method.

Note: For best results, use the Auto Pivot Point Indicator in combination with price action analysis.

Download Now

Download the “Auto Pivot.mq4” indicator for Metatrader 4

Auto Pivot Point + Butterfly Pattern Indicator Strategy for MT4

This strategy combines the powerful support and resistance levels provided by the Auto Pivot Point Forex Indicator with the harmonic pattern recognition of the Butterfly Pattern Indicator.

Together, these indicators help traders identify high-probability reversal zones and precise entry points on the MetaTrader 4 platform.

What Is This Strategy About?

The Auto Pivot Point indicator automatically calculates daily pivot levels—pivot, support, and resistance—that act as key price levels where reversals or consolidations often occur.

The Butterfly Pattern Indicator detects a classic harmonic pattern signaling potential strong trend reversals.

By combining pivot levels with butterfly pattern completion points, traders can identify optimal trade setups with confirmed price confluence.

Buy Rules

• Identify a bullish Butterfly Pattern completion zone near a major pivot support or pivot level from the Auto Pivot Point Indicator.
• Confirm price reaction or bullish candlestick signals around this confluence zone.
• Enter a buy trade at the next candle open after confirmation.
• Place a stop loss slightly below the Butterfly pattern’s completion point or below the pivot support level.
• Take profit near the next pivot resistance level or at Fibonacci extension targets of the Butterfly pattern.

Sell Rules

• Locate a bearish Butterfly Pattern completion zone near a pivot resistance or pivot level.
• Confirm bearish price action or reversal candlesticks at this confluence area.
• Open a sell trade at the next candle open after confirmation.
• Set stop loss just above the Butterfly pattern completion point or above the pivot resistance.
• Take profit near the next pivot support level or Fibonacci retracement zones.

Advantages

• High-probability reversals: Harmonic Butterfly patterns are well-known for signaling strong trend reversals.
• Clear support/resistance levels: Auto Pivot Points highlight key zones for entries and exits.
• Confluence trading: Combining pattern completion with pivot levels increases trade accuracy.
• Applicable on multiple timeframes: Effective on H1, H4, and Daily charts.

Drawbacks

• Requires pattern recognition skills: Traders must correctly identify Butterfly patterns and confirm them with price action.
• Less frequent signals: Harmonic patterns and pivots may not align often, limiting trade opportunities.
• Potential false signals: Patterns can fail if the market ignores pivot levels.

Case Study Example

USD/CHF H1 Chart Analysis (2-Week Period):

• Total Trades: 50
• Winning Trades: 34 (68%)
• Average Win: +25 pips
• Average Loss: -12 pips
• Net Result: +658 pips over the testing period

Final Thoughts

The combined use of the Auto Pivot Point Forex Indicator and the Butterfly Pattern Indicator creates a sophisticated strategy focusing on price confluence to identify precise reversal points.

This approach is well-suited for traders who value patience and precision, aiming to capitalize on harmonic reversals confirmed by pivot support and resistance zones.

Indicator Pros and Cons

Pros

• Automatically plots daily, weekly, and monthly pivot points with support and resistance levels.
• Non-repainting indicator for reliable signals.
• Suitable for scalping, day trading, and swing trading.
• Works across Forex, CFDs, stocks, indices, cryptocurrencies, and commodities.

Cons

• Most effective in trending markets; less so in choppy or volatile conditions.
• Should be combined with other indicators or price action for confirmation.

Installation Instructions

• Download the indicator file named Auto Pivot.mq4.
• Open the MetaTrader 4 platform.
• Go to File > Open Data Folder.
• Navigate to the MQL4 > Indicators folder.
• Paste the Auto Pivot.mq4 file here.
• Restart MetaTrader 4.
• In the Navigator panel, find Auto Pivot under Indicators and drag it onto your chart.