Figurelli Pivot is a free custom Forex indicator for MT4 (Metatrader 4) that displays the Figurelli Pivot and accompanying support and resistance levels on the chart.
The indicator appears in the main MT4 chart window as the Figurelli pivot point with S1, S2, S3, and R1, R2, and R3 levels.
The Figurelli Pivot works on pure price action and has no lag in nature.
Trading with the Figurelli Pivot:
- A buy signal occurs as soon as the price closes above the Figurelli Pivot (bullish).
- A sell signal occurs as soon as the price closes below the Figurelli Pivot (bearish).
- Take profit at the Fibonacci support (sell trade) and resistance levels (buy trade).
The Figurelli Pivot indicator can be used for both entry and exit signals or to confirm buy & sell trade setups issued by your favorite trading systems or strategies.
The indicator works equally well on all assets (Forex, CFD stocks, Indices, Cryptocurrencies, Commodities,..) and shows promising results if used correctly.
Free Download
Download the “figurelli-pivot-indicator.mq4” indicator for MT4
Indicator Chart (EUR/USD H1)
The example chart below displays the Figurelli Pivot mt4 indicator in action on the trading chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Figurelli 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: Figurelli Pivot + support & resistance
Does it repaint? No.
MT4 Scalping Strategy: Figurelli Pivot & Entry Take Profit Forex Winner
This scalping strategy combines the Figurelli Pivot Indicator MT4 and the Entry Take Profit Forex Winner Indicator MT4 to capture short-term price movements with high precision.
The Figurelli Pivot Indicator identifies key daily pivot points and Fibonacci support and resistance levels.
The Entry Take Profit Forex Winner Indicator provides visual confirmation of trade direction with blue arrows for buy signals and red arrows for sell signals.
This strategy is ideal for scalping on lower timeframes like 1-minute, 5-minute, or 15-minute charts.
Buy Entry Rules
- Price closes above the Figurelli Pivot, signaling bullish momentum.
- Confirm with a blue arrow from the Entry Take Profit Forex Winner Indicator.
- Enter a buy position at the open of the next candle.
- Set stop loss just below the pivot point or recent swing low.
- Take profit at the nearest Fibonacci resistance level indicated by the Figurelli Pivot Indicator.
Sell Entry Rules
- Price closes below the Figurelli Pivot, signaling bearish momentum.
- Confirm with a red arrow from the Entry Take Profit Forex Winner Indicator.
- Enter a sell position at the open of the next candle.
- Set stop loss just above the pivot point or recent swing high.
- Take profit at the nearest Fibonacci support level indicated by the Figurelli Pivot Indicator.
Advantages
- Combines pivot points and Fibonacci levels for precise scalping entries and exits.
- Buy/sell arrow confirmation reduces false signals and improves timing.
- Works well on short-term charts, allowing multiple trades per day.
- Easy to follow, suitable for both beginner and experienced scalpers.
Drawbacks
- Requires fast execution and constant monitoring, which can be stressful for some traders.
- Risk management is essential, as scalping involves tight stop losses and frequent trades.
Example Case Studies
Case Study 1: EUR/GBP 5-Minute Chart
On the EUR/GBP 5-minute chart, the price closed above the Figurelli Pivot, and a blue arrow appeared on the Entry Take Profit Forex Winner Indicator.
A buy trade was entered at the open of the next candle, with a stop loss just below the pivot.
The price moved upward and reached the first Fibonacci resistance level, securing a profit of approximately 12 pips.
Case Study 2: AUD/USD 1-Minute Chart
On the AUD/USD 1-minute chart, the price closed below the Figurelli Pivot, and a red arrow appeared on the Entry Take Profit Forex Winner Indicator.
A sell trade was entered at the next candle with a stop loss above the pivot.
The price quickly fell to the first Fibonacci support level, resulting in a profit of around 8 pips, illustrating the effectiveness of this strategy for fast scalping trades.
Strategy Tips
- Focus on high liquidity pairs for tighter spreads and better scalping results.
- Use this strategy during peak market sessions for stronger price movements.
- Stick to the stop loss and take profit levels to maintain disciplined risk management.
Download Now
Download the “figurelli-pivot-indicator.mq4” indicator for Metatrader 4
