Forex All Pivot Points MQ4 Indicator – An indicator for drawing all important Pivot Points including: “Classic”, “Camarilla”, “Woodie”, “Floor”, “Fibonacci”, “Fibonacci_Retracement”.
- You can choose different time frames for pivot calculation.
- Customizable width, color and style.
- Compatible to have multiple pivots with different timeframes in one chart.
A pivot point is a technical analysis indicator used to determine the overall trend of the market during different time frames.
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.