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Pivots Point Indicator For MT4 Based on Pine Script v4

    The Pivots Point indicator for Metatrader 4 based on Pine Script v4 calculates pivot points in real-time based on the Pine Script v4 for Tradingview.

    The indicator is a powerful tool that can be used to buy dips in rising markets and sell rallies in falling markets.

    The Pivot Points indicator tends to work the best when applied to the higher time frames.

    It can be easily combined with other tools to pinpoint entries and exits more accurately.

    Key Points:

    • Real-Time Calculations: The indicator calculates pivot points in real time for precise market analysis.
    • Buy and Sell Signals: Effectively buy dips in rising markets and sell rallies in falling markets.
    • Higher Time Frames: Works best when applied to higher time frames for improved accuracy.
    • Combines with Other Tools: This can be easily integrated with other indicators to refine entry and exit points.

    Test the indicator first on a demo account before running it on a live trading account.

    Free Download 

    Download the “pivots pine v4.mq4” MT4 indicator

    Indicator Example Chart

    The EUR/USD 1-hour chart below demonstrates the Pivots Point indicator in action, showcasing how it provides clear buy and sell signals.

    Basic Trading Signals

    Signals from the Pivots Point indicator based on Pine Script v4 for Metatrader 4 are easy to interpret and work as follows:

    BUY:

    • During rising markets, open a buy trade when the price touches the red pivot low line
    • Add a protective stop loss a few pips below the most recent swing low.
    • Exit the buy trade when the price touches the red pivot high line.

    SELL:

    • During declining markets, open a sell trade when the price touches the red pivot high line
    • Add a protective stop loss a few pips above the most recent swing high.
    • Exit the sell trade when the price touches the red pivot low line.

    Download This Forex Indicator

    Download the “pivots pine v4.mq4” MT4 indicator

    Adjustable Parameters & Settings

    The Pivots Point indicator offers adjustable parameters, including right value, left value, and color settings.

    Feel free to explore these options to create a personalized setup that aligns with your trading strategy.

    More Information

    Currency Pairs: works on any currency pair

    Trading Platform: developed for Metatrader 4 (MT4)

    Time Frames: works on any time frame

    Indicator Type: pivot points

    How can the Pivots Point indicator based on Pine Script v4 be installed in Metatrader 4?

    • Copy and paste the pivots pine v4.mq4 indicator into the MQL4 indicators folder.
    • You can access this folder from the top menu as follows:
    • File > Open Data Folder > MQL4 > Indicators (paste here)

    Removal Instructions:

    To remove the indicator, right-click on the chart, select ‘Indicators List,’ choose the indicator, and click the delete button.

    Summary

    The Pivots Point indicator based on Pine Script v4 is a versatile and powerful tool for forex traders.

    By calculating pivot points in real-time, it helps traders identify optimal buy and sell opportunities in both rising and falling markets.

    Its effectiveness on higher time frames and compatibility with other indicators make it an invaluable asset for enhancing trading strategies.

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