Pivot Points are a mandatory instrument in the arsenal of many dealers, they’re used as potential resistance and support levels. the majority of the pivot point signs are based on the timeframes built to the MT4 terminal (daily, weekly, and monthly). they’re well suited for an assortment of short-term transactions, although, given the volatility in the foreign exchange market, dealers can easily be pumped from quite solid positions which could become lucrative.
After much study into the idea of pivot points, I came across the idea of using quarterly and annual levels. There are several articles on this topic, but after reading them and trading at these levels, there is interest in them. They offer a much better profit – to-risk ratio, a much better understanding of market bias, and clear, objective goals at distances of hundreds of pips. I warn you, this isNOT an indicator for daily trading. To trade at these levels, it is recommended to use price action, signal matching, divergence, or other techniques.
This indicator calculates the annual and quarterly pivot points using the classical formula, since it is the most commonly used and, in my opinion, the most accurate formula.
PP = (HIGH LOW CLOSE) / 3
It calculates the R3/S3 levels and automatically updates them at the beginning of a new year or quarter.
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Yearly Pivots / Quarterly Pivots – Annual / Quarterly Pivot Levels
- Show_Yearly (Quarterly)_Pivots – show the lines of the annual (quarterly) reversal levels on the screen, true/false.
- Yearly (Quarterly)_Price_Alert_Zone – the Area in POINTS (not pips), when the BID price enters this area, an alert will be sent. This area is above and below each line by the specified number of pips.
- Yearly (Quarterly)_Enable_Alerts-show on-screen alerts for annual (quarterly) reversal levels, true/false.
- Yearly (Quarterly)_Enable_Text-send push notifications for annual (quarterly) reversal levels, true/false. You need to enable sending push notifications in the terminal settings, as well as install the mobile version on the device).
Line / Label Styles – Line / Label Styles
- The line styles and colors can be customized according to your preferences.
- The colors of the placemarks can be customized according to your preferences.
- LabelShiftHours – The number of hours to offset the labels from the current candle. It should be used if you have graph indentation enabled and you need to move the placemarks on the screen to the right or left. A positive number moves the labels to the right, a negative number moves them to the left, 0 (zero) displays the labels directly on the current candle (Time).
Successful trading and good luck to all.