A pivot point analysis is often used in conjunction with calculating support and resistance levels, similar to a trend line analysis. In a pivot point analysis, the first support and resistance levels are calculated by using the width of the trading range between the pivot point and either the high or low prices of the previous day. The second support and resistance levels are calculated using the full width between the high and low prices of the previous day.
MT4 Indicator Download – Instructions
PZ Pivot Points is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
PZ Pivot Points provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install PZ Pivot Points.mq4?
- Download PZ Pivot Points.mq4
- Copy PZ Pivot Points.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on PZ Pivot Points.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator PZ Pivot Points.mq4 is available on your Chart
How to remove PZ Pivot Points.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
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