The Pivot Point Indicator is a technical analysis tool for MetaTrader 4 that plots key support and resistance levels based on the previous day’s price action.
Levels are calculated using the following formulas:
D = (day_high − day_low);
Q = (yesterday_high − yesterday_low);
P = (yesterday_high + yesterday_low + yesterday_close) / 3;
R1 = (2 × P) − yesterday_low;
S1 = (2 × P) − yesterday_high;
R2 = P + (yesterday_high − yesterday_low);
S2 = P − (yesterday_high − yesterday_low);
R3 = (2 × P) + (yesterday_high − (2 × yesterday_low));
R2.5 = (R2 + R3) / 2;
R1.5 = (R1 + R2) / 2;
R0.5 = (P + R1) / 2;
S0.5 = (P + S1) / 2;
S1.5 = (S1 + S2) / 2;
S3 = (2 × P) − ((2 × yesterday_high) − yesterday_low);
S2.5 = (S2 + S3) / 2.
All calculations use values from the last closed bar of the selected timeframe.
ForTraders.org Commentary: This indicator has no unique distinguishing features. It can serve as a supplementary tool within a broader trading strategy. Trading solely based on Pivot Points is not recommended.
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FAQ
What timeframes does the Pivot Point indicator use?
It uses the prior day’s high, low, and close — regardless of your chart’s current timeframe — making it inherently daily-based.
Can I use Pivot Points for intraday trading?
Yes, but levels remain fixed until the next daily session opens; they’re best combined with dynamic tools like moving averages or volume profiles.
Is this indicator suitable for beginners?
Yes, as a learning aid — but never rely on it alone. Always confirm signals with price action, trend context, or additional confluence.
