The Hourly Pivot Points Metatrader 4 indicator provides buy and sell signals for both scalpers and day traders on the lower timeframes.
The indicator calculates and draws hourly pivot points together with the accompanying support (S1, S2, S3) and resistance levels (R1, R2, R3) directly on the activity chart.
It’s most useful on the 1-minute and 5-minute trading charts.
The indicator can be applied to any currency pair, including the majors, cross pairs and exotics.
Free Download
Download the “HourlyPivotPoints_ColorFilling_1.1.mq4” MT4 indicator
Indicator Chart (EUR/USD M5)
The EUR/USD M5 chart below shows the Hourly Pivot Points forex indicator in action.
Basic Trading Signals
Here’s how to trade with this indicator:
Buy Signal: Go long when price trades above the Hourly Pivot Point (H1 PP)
Sell Signal: Go short when price trades below the Hourly Pivot Point (H1 PP)
Trade exit: For longs, exit trade at resistance R1, R2 or R3. For shorts, exit trade at S1, S2 or S3.
Download Now
Download the “HourlyPivotPoints_ColorFilling_1.1.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern indicator
Customization options: Variable (PivotMode, CurrentHourOnly, CountBars, ShowPivotLines) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes
Type: Pivot Points
