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What is Pivot Points Stock Indexes Indicator?


Pivot Points Indices indicator - Pivot Points technical indicators is a popular stock indices indicator that can be found on the - Indices Indicators List on this website. Pivot Points stock indices indicator is used by stock indexes traders to predict stock indexes price movement based on the chart stock indexes price analysis done using this Pivot Points indicator. Indices traders can use the Pivot Points buy and Sell Indices Trading Signals explained below to determine when to open a buy or sell indices trade when using this Pivot Points indicator. By using Pivot Points and other stock indices indicators combinations traders can learn how to make decisions about market entry and market exit.



What is Pivot Points Indices Indicator? Pivot Points Indices Indicator



Adding a Indices Indicator to Pivot Points Stock Indexes Indicator in MetaTrader 4


Which Stock Indexes Indicator to Combine with Pivot Points?

Which is the best Pivot Points Indices technical indicator combination for stock indexes trading?



The most popular indicators combined with Pivot Points are:

  1. Relative Strength Index

  2. Moving Averages

  3. MACD

  4. Bollinger Bands

  5. Stochastic Oscillator

  6. Ichimoku

  7. Parabolic SAR


Which is the best Pivot Points indicator combination for stock indexes trading? - Pivot Points MetaTrader 4 stock indices indicators


What are the best trading indicators to combine with Pivot Points?

Find additional indicators in addition to Pivot Points indicator that will determine the indices trend of the stock indexes trading market as well as others that confirm the stock indexes trading market trend. By combining stock indices indicators that determine indices trend and others that confirm the indices trend and combining these indicators with Indices Trading Pivot Points indicator a indices trader will come up with a Pivot Points based indices trading system that they can test using a indices trading practice demo stock indexes trading account on the MetaTrader 4 stock indexes trading platform.



This Pivot Points based stock indices trading system will also help stock indexes traders to determine when there is a market reversal based on the stock indexes indicators signals generated and therefore traders can know when to exit the stock indexes market if they have open trades.



What is Pivot Points Stock Indexes Indicator Based Trading? Indicator based stock indexes trading system to analyze the stock indexes price and provide trade signals.


Pivot Points Indices Trading Strategy?



How to Choose the Best Pivot Points Indices Trading Strategy

For traders researching on What is the best Pivot Points indices trading strategy - the following learn indices trading tutorials will help traders on the steps required to guide them with coming up with the best strategy for trading Indices Trading market based on the Pivot Points indicator stock indexes trading system.

Best Indices Indicators Combination for Pivot Points




About Pivot Points Indices Indicator Tutorial


Pivot Points Indices Technical Analysis and Pivot Points Indices Trading Signals

This indicator consists of a central pivot which is surrounded by 3 resistance levels below and 3 support levels above.


Initially these points were used by floor traders to analyze and trade the equities and futures stock indices markets. This indicator is considered to be leading rather than lagging.


Pivots provide a quick way for stock indexes traders to analyze the general indices trend of how the stock indexes trading market is going to be moving during the course of the day. A few simple calculations are used to draw the resistance and support levels.


To calculate these points for the coming trading day is the previous day's


  • high,

  • low, and

  • close indices prices are used

The stock indices trading day closes and this daily closing time is when the indicator is updated.


The 24-hour cycle for this indicator are calculated using a complex formula. The central pivot is then used to calculate the support and resistance levels as follows:


Resistance 3

Resistance 2

Resistance 1


Pivot Point


Support 1

Support 2

Support 3


Pivot Points Indices Indicator



Indices Technical Analysis and Generating Indices Trading Signals


This indicator can be used in different ways to generate stock indexes trading signals. The following methods are the most common technical analysis:


Indices Trend Identification Signals

The central pivot is used by stock indexes traders to determine the general market indices trend direction. The trades taken will only be in the direction of the stock indexes trading market trend.


  • Buy signal - stock indexes price is above the central point

  • Sell signal - stock indexes price is below the central point


Indices Price Breakout Signals

Indices Price breakout signals are generated as follows


  • Buy signal- is generated when the stock indexes price breaks upwards through the central point.

  • Sell signal- is generated when the stock indexes price breaks downwards through the central point.


Indices Price Breakout above Pivot Points Indices Indicator

Indices Price Breakout


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Indices Price Reversal Indices Trading Signal

Indices Price reversals are generated as follows


Buy signal- when stock indexes price moves down towards one of the support level, then touches the support or moves slightly through it then quickly reverses and moves upwards.

Sell signal- when stock indexes price moves up towards one of the resistance level, then touches the resistance or moves slightly through it then quickly reverses and moves downwards.


Indices Price Reversal Indices Trading Signal Pivot Points Trading

Indices Price Reversal Indices Trading Signal


Setting Stop loss and Limit Profit Values

The central pivot and the other support and resistance levels are used by stock indexes traders to determine suitable stop loss and limit profit levels.

Setting Stop loss and Limit Profit Support Resistance Levels

Setting Stop loss and Limit Profit



If a buy is placed above the central point the Resistance 1 or Resistance 2 can be used to set the take profit level, and the Support 1 can be set as the Stop Loss Indices Trading Order Level for the trade.


To download Pivot points:

https://c.mql5.com/21/9/pro4x_pivot_lines.mq4

Once you download it open it with MQL4 Language Editor, Then Compile it by pressing the Compile Button and it will be added to your MetaTrader 4.



NB: Once you add it to your MetaTrader 4, the indicator has additional lines named Mid Points, to remove these additional lines open MQL4 Language Editor(shortcut keyboard key - press F4), and change line 16 from:

extern bool midpivots = true;

to

extern bool midpivots = false;

Then Press Compile again, and it will then appear as exactly shown on this website.

 

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