Pivot Points BTCUSD Analysis and Pivot Point ==22==Trade Signals

This btcusd indicator consists of a central pivot which is surrounded by Three resistance levels below & Three support levels above.

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

Pivots provide a quick way for traders to analyze and interpret the general bitcoin trend of how the btcusd market is going to be moving during the course of the day. A few simple calculations are used to draw the resistance and support zones.

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

high,
low, and
close bitcoin prices are used

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

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

Resistance 3

Resistance 2

Resistance 1

Pivot Points

Support 1

Support 2

Support 3

Pivot Points Bitcoin Indicator - Pivot Points Best BTCUSD Indicator Combination

BTC USD Crypto Analysis and Generating Signals

This btcusd indicator can be used in various different ways to generate trade signals. Following techniques are the most common technical analysis:

Bitcoin Trend Identification Signals

The center pivot point is used by traders to figure out the general market bitcoin trend direction. Trades opened will only be in line with the direction of the trend.

Buy signal - price is above central pivots point
Sell trading signal - price is below central pivots point

Bitcoin Price Breakout Signals

Bitcoin Price breakout signals are derived and generated as follows

Buy signal- is generated when the bitcoin price breaks upwards through the central point.
Sell signal- is generated/derived when the bitcoin price breaks-out downward through the central point.

Bitcoin Price Breakout above Pivot Points Indicator - How to Set Pivot Points Bitcoin Indicator in Bitcoin Chart

Bitcoin Price Break out

BTCUSD Price Reversal Signal

Bitcoin Price reversals are derived/generated as follows

Buy Signal- when bitcoin price moves down towards one of the support area, then touches the support or moves slightly through it then quickly reverses and moves upwards.

Sell Signal- when bitcoin price moves upward towards one of the resistance area, then touches the resistance or moves slightly through it then quickly reverses & moves downward.

Bitcoin Price Reversal Bitcoin Signal Pivot Points Trading - Pivot Points Best Indicator Combination

Bitcoin Price Reversal Signal

Placing Stoploss and Limit Profit Values

The center pivot ==22==and the other support and resistance levels are used by traders to figure out suitable stop loss and limit profit levels.

Setting Stop loss & Limit Profit Support Resistance Levels - Pivot Points Best BTCUSD Indicator Combination

Placing Stoploss 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 order level, & the Support 1 can be set as a Stop Loss Bitcoin Order Level for the trade.

To download Pivot points Indicator:

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 MT4.

Note: Once you as a trader add it to your Meta Trader 4, indicator has additional lines marked Mid Points, to remove these additional lines open the MQL4 Language MetaEditor(shortcut keyboard key - press F4), and change line 16 from:

Extern bool midpivot = true:

Extern bool midpivot = false:

Then Press the Compile button again, and it then will appear and be shown as is exactly displayed on this website.

Study More Tutorials & Lessons:

Trade Bitcoin Trading

Pivot Points BTCUSD Analysis and Pivot Point ==22==Trade Signals

BTC USD Crypto Analysis and Generating Signals