Best Pivot Points for 4 Hour XAUUSD Chart

How to Add Pivot Points Gold Technical Indicator on MetaTrader 4 Gold Charts

Step 1: Open the Navigator Window Panel on XAUUSD Trading Platform

Open the Navigator window as illustrated & shown below - Go to "View" menu (then click) and then select "Navigator" window (click), or From the Standard Tool Bar click the "Navigator" button key or press short cut keyboard keys "Ctrl+N"

On the Navigator window, choose 'Technical Indicators', (DoubleClick)

Best Pivot Points for 1H Gold Chart - Best Pivot Points for 4 H XAUUSD Chart

Step 2: Expand the Gold Indicators Menu on the Navigator

Expand the menu by clicking the expand button marker (+) or double click the "indicators" menu, after this the button will appear as (-) and will now display a list of xauusd indicators as shown below - select the Pivot Points indicator from this list of xauusd indicators so as to add the Pivot Points technical indicator on the gold trading chart.

Best Pivot Points for 1H Gold Chart - Best Pivot Points for 4 H XAUUSD Chart

How to Add Custom Pivot Points XAUUSD Indicator to MT4

If the Pivot Points technical indicator you want to add is a custom indicator - for example if the Pivot Points technical indicator you want to add is a custom Pivot Points indicator you will need to first add this xauusd custom Pivot Points indicator in MetaTrader 4 software and then compile custom Pivot Points indicator so that the newly added Pivot Points gold custom indicator appears on the list of custom indicators on the MT4 platform.

To learn how to install Pivot Points indicator on MT4, how to add Pivot Points indicator window to MT4 & how to add Pivot Points custom gold technical indicator on MT4 - How to add custom Pivot Points xauusd trading Indicator in MetaTrader 4.

Pivot Points Gold Technical Indicator Described

Pivot Points Gold Technical Analysis and Pivot Points XAUUSD Signals

Pivot Points gold trading technical indicator consists of a center pivot-point that is surrounded by Three resistance levels above & 3 support levels below.

Pivot Points technical indicator is considered to be a leading xauusd technical indicator rather than a lagging xauusd indicator.

Pivot Points provide a quick way for gold traders to analyze the xauusd trend of how the gold price is going to be moving during the day. A few simple calculations are used to plot the Pivot Points resistance & support levels.

To calculate these Pivot Points for the coming trading day - the previous day's

• high,
• low, and
• close gold prices are used

The xauusd trading day closes and this daily closing time is when the Pivot Points technical indicator is updated.

The 24 hour cycle for this Pivot Points technical indicator are calculated using a complex formula. The central pivot point is then used to calculate the support & resistance areas as follows:

Resistance 3

Resistance 2

Resistance 1

Pivot Point

Support 1

Support 2

Support 3

Best Pivot Points for 1 Hour Gold Chart - Best Pivot Points for 4 H XAUUSD Chart

Gold Trading Pivot Points Technical Analysis and Generating Pivot Points XAUUSD Signals

Pivot Points technical indicator can be used in different ways to generate gold signals. The following strategies are most common Pivot Points indicator analysis:

Pivot Points XAUUSD Trend Identification Signals

The central pivot point is used by traders to determine the xauusd trend direction. Trades taken will only be in the direction of the trend.

• Buy xauusd signal -price is above the central pivot
• Sell xauusd signal -price is below the central pivot

Pivot Points XAUUSD Price Breakout Signals

XAUUSD price breakout signals are generated as follows

• Buy xauusd signal - is generated when price breaks-out upwards through the center pivot point.
• Sell xauusd signal - is generated when price breaks-out downward through the center pivot point.

Best Pivot Points for 15 Min Gold Chart - Best Pivot Points for 5 Minute XAUUSD Chart

Pivot Points XAUUSD Price Reversal XAUUSD Signal

XAUUSD price reversal gold signals are generated as follows

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

Sell xauusd signal - when price moves upwards toward one of the resistance area, then touches the resistance level or moves slightly through it then quickly reverses & moves downward.

Best Pivot Points for 15 Min Gold Chart - Best Pivot Points for 5 Minute XAUUSD Chart

Setting Stoploss and Take Profit XAUUSD Order Levels using Pivot Points

The central pivot point & the other support and resistance zones are used by traders to ascertain suitable stop loss and take profit areas.

Best Pivot Points for 15 Min Gold Chart - Best Pivot Points for 5 Minute XAUUSD Chart

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

To download Pivot points:

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

Once you download Pivot Points indicator open it with MQL4 Language Editor, Then Compile it by pressing the Compile Button and it'll be added to your MetaTrader 4 software.

Note: Once you add Pivot Points to your MetaTrader 4, the Pivot Points technical indicator has additional lines named Mid-Points, to remove these additional lines open MQL4 Language MetaEditor(shortcut key board key - press F4), and change line 16 from:

Extern bool midpivots = true:

To

Extern bool midpivots = false:

Then Press Compile again, & it will then appear as exactly illustrated on this site.

Best Pivot Points for 1 Hour Gold Chart - Best Pivot Points for 4 H Gold Chart - Best Pivot Points for Daily Gold Chart - Best Pivot Points for 15 Min Gold Chart - Best Pivot Points for 5 Minute XAUUSD Chart