The Pivot & Fibonacci Lines indicator for Metatrader 4 draws all pivots and Fibonacci levels on the chart, and it can be used for both trade entry and exit.
The indicator is based on price action and does not repaint any of the levels.
Learn more down below on how to trade with this indicator.
Key Points
- Shows pivots (mid, weekly, monthly).
- Shows Fibonacci levels.
- Can be used for trade entries & exits.
Free Download
Download the “pivot-lines-indicator.ex4” MT4 indicator
Indicator Chart (EUR/USD M15)
The EUR/USD 15-minute chart below shows the Pivot & Fibonacci Lines indicator in action.
Basic Trading Signals
Signals from the Pivot & Fibonacci Lines indicator for Metatrader 4 are easy to interpret and goes as follows:
BUY:
- A buy signal is given when the candlestick closes above the pivot point.
- Place a stop loss 2-5 pips below the previous support.
- Close the buy trade at the Fibonacci resistance levels, or utilize your own trade profit strategy.
SELL:
- A sell signal is given when the candlestick closes below the pivot point.
- Place a stop loss 2-5 pips above the previous resistance.
- Close the sell trade at the Fibonacci support levels, or utilize your own trade profit strategy.
Pivot‑Fibonacci + Trend Power Forex MT4 Strategy
This MT4 strategy combines the Pivot & Fibonacci Lines Forex Indicator and the Trend Power MT4 Forex Indicator.
The Pivot Fibonacci indicator gives you a simple market bias: if the price is above the pivot point, then bullish, if below, then bearish.
The Trend Power gives you specific buy/sell signals via a blue line (buy) or red line (sell).
By combining the two, you only enter trades when the bias and the trigger align, which improves your odds.
This strategy works on time frames from M15 up to H1, especially in active currency pairs during the London/New York session.
It is for intermediate traders who already have the basics of risk management and trade execution sorted out. It is suitable for scalping to short-term intraday trading.
Buy Entry Rules
- Confirm price is above the central pivot point from the Pivot & Fibonacci Lines indicator (bullish bias).
- Wait for the Trend Power indicator blue line to signal a buy (i.e., blue line appears or crosses upward).
- Enter a buy trade at the market when both conditions are met.
- Place a stop-loss a few pips below the recent swing low or key support (preferably below pivot support or Fibonacci level).
- Take profit near the next major Fibonacci-pivot level or major resistance from the Pivot/Fibonacci indicator.
- Alternatively, exit when the Trend Power indicator turns red (sell signal) or the price drops back below the pivot point.
Sell Entry Rules
- Confirm price is below the central pivot point (bearish bias from the Pivot & Fibonacci Lines indicator).
- Wait for the Trend Power indicator red line to signal a sell (i.e., red line appears or crosses downward).
- Enter a sell trade at the market when both conditions are in place.
- Place a stop-loss a few pips above the recent swing high or key resistance (above a pivot or Fibonacci level).
- Take profit near the next major Fibonacci/pivot support level or when the Trend Power indicator turns blue (buy signal) or price climbs back above the pivot point.
Advantages
- Combines trend/bias (via pivot) and trigger (via Trend Power) for clearer entries.
- Simplifies decision-making: trade only when both the bias and the signal align.
- Works on several time frames, giving flexibility.
- Helps filter out random trades when the price is hovering near the pivot, but no clear trend signal.
Drawbacks
- If the market is ranging just above/below the pivot, the bias may flip often, causing false signals.
- The trigger (Trend Power) may lag a little in fast moves, so entries could be slightly delayed.
- Stop-loss levels sometimes are tight if volatility jumps; ensure you account for the spread and possible whipsaws.
- In quiet sessions or low-volatility pairs, signals may be fewer and moves smaller.
Example Case Studies
Case Study 1 – EUR/USD H1
On 12 July at 10:00 GMT, the price moved above the central pivot point at 1.1080, giving a bullish bias.
Shortly after, the Trend Power indicator blue line appeared (buy signal) at 1.1092.
A buy order was entered at 1.1092.
Stop-loss was placed at 1.1078, just under the recent swing low and pivot support.
The next significant Fibonacci/pivot resistance level was at 1.1120.
Price reached 1.1120 after about 3 hours, generating 28 pips profit.
Case Study 2 – GBP/JPY M15
On 15 August, around 14:30 GMT, the price slipped below the central pivot point at 156.45, signalling bearish bias.
The Trend Power indicator then produced a red line (sell signal) at 156.38.
A sell was entered at 156.38.
Stop-loss was placed at 156.65, just above the recent swing high and pivot resistance.
The next major support from the Fibonacci/pivot grid was at 155.95.
Price reached that level within two hours, producing a 43 pip profit.
Strategy Tips
- Always check the pivot point calculation uses the correct session (daily pivot on previous day’s high, low, close), so bias is relevant.
- Choose pairs with decent volatility and during active hours (London or New York) to improve movement size.
- Ensure you only take trades when both bias and signal align—skip when one is missing.
- Consider using a trailing stop when the price has moved a significant distance from entry and you notice strength continuing in your favour.
- Backtest this setup on your chosen pair and time frame to find which suits your style—M15 for more frequent scalps, H1 for higher-quality moves.
Download Now
Download the “pivot-lines-indicator.ex4” MT4 indicator
Adjustable Parameters & Settings
Show pivots, show week pivots, show month pivots, show fibos, show week fibos, show month fibos, colors, width, style.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Supported currency pairs: Any
Trading Platform: Metatrader 4 (MT4)
Time Frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Pivot + Fibonacci
