The Waddah Attar Pivot indicator for MT4 displays the monthly, weekly, and daily pivot points on the chart.
Every day, the indicator automatically updates all pivot point levels.
In essence, the Waddah Attar Pivot indicator reveals the overall trend based on pivot point levels.
After you have downloaded and installed the indicator on the MT4 trading platform, it should look like the image shown below.
Key Features
- Displays the daily, weekly, and monthly pivot point
- Dynamically updates all levels
- Reveals the overall trend
- Popular indicator
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system as a simple trend bias technical tool.
Free Download
Download the “Waddah_Attar_Pivot.mq4” MT4 indicator
Example Chart
The EUR/USD 4-hour chart below shows the Waddah Attar Pivot Forex indicator in action.
Trading Signals
Signals from the Waddah Attar Pivot indicator for Metatrader 4 are easy to interpret and work as follows:
BUY:
- Open a buy trade when the price closes above the daily pivot point and the daily pivot point is positioned above the weekly and monthly pivot point (rising trend).
- Place a stop loss below the previous swing low level.
- Take profit at a risk-to-reward ratio of at least 1.5 or better.
SELL:
- Open a sell trade when the price closes below the daily pivot point and the daily pivot point is positioned below the weekly and monthly pivot point (falling trend).
- Place a stop loss above the previous swing high level.
- Take profit at a risk-to-reward ratio of at least 1.5 or better.
Download Now
Download the “Waddah_Attar_Pivot.mq4” MT4 indicator
MT4 Trading Strategy: Xmaster Formula + Waddah Attar Pivot Levels
This strategy combines the Xmaster Formula Forex Indicator for trend signal generation and the Waddah Attar Pivot Indicator for key intraday levels.
It is ideal for intraday or short-term swing trading on M30 to H4 timeframes.
Indicators Used
- Xmaster Formula: A trend-following indicator that provides buy and sell arrows based on multiple filtered moving average signals.
- Waddah Attar Pivot: Plots daily pivot points, support, and resistance levels that can be used for entries, exits, and risk management.
Buy Trade Setup
- Wait for a green buy arrow from the Xmaster Formula indicator.
- Confirm that the price is trading above the daily pivot point plotted by the Waddah Attar Pivot indicator.
- Optionally, price should be approaching or bouncing from the first support (S1) or pivot level for added confluence.
- Enter a buy trade after the candle closes with confirmation.
- Set stop loss just below the nearest support level (S1 or S2).
- Target take profit at the next resistance level (R1 or R2) or set a fixed 1:2 risk-reward ratio.
Sell Trade Setup
- Wait for a red sell arrow from the Xmaster Formula indicator.
- Confirm that the price is trading below the daily pivot point from the Waddah Attar Pivot indicator.
- Optionally, look for price rejecting the pivot or resistance (R1) level for confluence.
- Enter a sell trade at candle close after confirmation.
- Set stop loss just above the nearest resistance level (R1 or R2).
- Target take profit at the next support level (S1 or S2) or maintain a 1:2 risk-reward ratio.
Additional Tips
- Avoid trading near high-impact news events or during major session overlaps unless experienced.
- Use this setup during London or New York sessions for better volatility and clearer pivot reactions.
- Combine signals with candlestick patterns or volume confirmation for added reliability.
This strategy provides structured entries with the Xmaster Formula Indicator and reliable market levels from the Waddah Attar Pivot Indicator.
It’s a great combination for disciplined technical trading.
Adjustable Indicator Parameters & Settings
Colors
Technical 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
Final Thoughts
The Waddah Attar Pivot Indicator for MetaTrader 4 is a valuable tool for traders seeking to identify key support and resistance levels based on daily, weekly, and monthly pivot points.
Plotting these levels directly onto the chart provides clear visual cues that assist in determining potential entry and exit points.
This indicator is particularly useful for swing traders and those employing range-bound strategies, as it highlights critical price zones where reversals or breakouts may occur.
For optimal performance, consider combining the Waddah Attar Pivot Indicator with other indicators like the Xmaster Formula or RSI to confirm trend direction and momentum.
