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The indicator draws STANDARD, CAMARILLA, FIBONNACI, and WOODIE pivot points. Whichever one you use in your trading, this indicator is the best buy.
Please note that this is a daily version of the Pivot Point Plotter indicator for day traders who trade on intraday timeframes (i.e. M1, M5, M15, M30, H1 and H4) in the MT4 platform. This indicator is an absolute assistant to the day trader.
- Draws STANDARD, CAMARILLA, FIBONNACI, and WOODIE pivot points.
- Dynamically calculates and builds Daily Pivot Points (Central Pivot Point, R1, R2, R3, S1, S2, and S3)
- Includes a function for calculating and plotting midpoints
- Daily pivot points are drawn regardless of the intraday timeframe on which you are trading i.e. M1, M5, M15, M30, H1, and H4. The daily pivot points do not change when the timeframe changes.
- The values for the previous days are stored in the buffer, you can view them in the data window of the terminal. This is especially useful when analyzing the price behavior around pivot points.
- Fully configurable parameters (see the section ” Input parameters”)
- You can set up sending daily messages with the indicator readings by email
- You can set up sending daily notifications to the mobile terminal
- The indicator can be included in the Expert Advisor using the iCustom function to get data from the corresponding buffer (for more information, see the section “Indicator Buffers”).
- pivotpointtype – the Pivot Point type
- SendEmail-sending email messages to the address specified in the settings of MetaTrader 4
- PushNotification – sending Push notifications to the mobile terminal
- drawPP-display pivot points on the chart
- drawR1-display the resistance level Resistance 1 on the chart
- drawR2-display the resistance level Resistance 2 on the chart
- drawR3-display the resistance level Resistance 3 on the chart
- drawS1-display the support level of Support 1 on the chart
- drawS2-display the support level of Support 2 on the chart
- drawS3-display the support level of Support 3 on the chart
- drawMidPoint – display the midpoints on the chart
- lineDisplay-draw reversal lines on the entire chart or on the right border
- midpointlinecolor – the color of the midpoint line
- midpointlinestyle-midpoint line style
- pivotpointlinecolor – the color of the line of the center pivot points
- pivotpointlinestyle-the style of the line of the central pivot points
- supportlinecolor – color of the support level lines (S1, S2, and S3)
- supportlinestyle-the style of the support level lines (S1, S2, and S3)
- resistancelinecolor – color of the resistance level lines (R1, R2 and R3)
- resistancelinestyle-the style of the support level lines (R1, R2, and R3)
- labeltextfontsize – font size of the text label
- linelabelcolor – the color of the text label
- textlabelposition – position of the text label
- Save time, as you will never have to manually calculate daily pivot points again (see how the PPP Series of indicators helps you save money and time in the section “How the PPP Series helps you Save Time and Money”).
- Uses your broker’s data, so you don’t need to rely on ready-made reference points available on some websites on the Internet, whose data may differ from your broker’s.
- Fully customizable, so you can only display the pivots that you use in your strategy (see the “Input Parameters” section for a complete list of configurable parameters).
- It can be used on all instruments in MetaTrader 4.
- Buffer 0 – the central pivot point
- Buffer 1 – resistance level Resistance 3
- Buffer 2 – resistance level Resistance 2
- Buffer 3 – resistance level Resistance 1
- Buffer 4-Support level Support 1
- Buffer 5-Support level Support 2
- Buffer 6-Support level Support 3
- The amount of time spent on calculating and constructing pivot points per month = 5 * 20 = 100 minutes (20 trading days per month)
- The amount of time spent on calculating and constructing pivot points per year = 100 * 12 (months per year) = 1200 min
- Converting 1200 minutes to hours = 1200/60 = 20 hours
- Transfer to money 20 hours of work = 20 * 7.25 = $145
The analysis above shows that, on the most conservative assumptions, you would spend 20 hours a year calculating and plotting pivot points. The time spent would have cost you $ 145. If you trade two pairs, that would be $ 290 a year. For three couples, it would be $ 435. Imagine how much it will be if you trade 5 or more currency pairs.
Thanks to this analysis, you can easily see how much time and money is spent on what you consider to be the simplest activity in the world.
Invest your time wisely in your strategies, and let Daily Pivot do the hard work of calculating and plotting daily pivot points for you.
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