How to Add Pivot Points Indicator on MT4 Charts

Step 1: Open Navigator Window on Trading Platform

Open Navigator panel as shown and illustrated below: Go to 'View' menu (click on it), then select 'Navigator' window (press), or From Standard Tool Bar click 'Navigator' button or press key-board shortcut keys 'Ctrl+N'

On Navigator panel, choose 'Indicators', (DoublePress)

How Do I Add Pivot Points Indicator in MT4? - MT4 Pivot Points Indicator

How to Add Pivot Points Indicator on MT4 - MT4 Pivot Points Indicator

Step 2: Expand the Indicators Menu on the Navigator - Adding Pivot Points MT4 Indicator

Expand the menu by pressing the expand(+) button marker (+) or doubleclick the 'indicators' menu, after this the button will appear as (-) and will now display a list as shown below - select the Pivot Points chart indicator from this list of indicators so that to add the Pivot Points indicator on the chart.

How to Add Pivot Points Indicator on Chart - How Do I Use Pivot Points Technical Indicator?

How to Add Pivot Points Indicator - From the Above window you can then place Pivot Points indicator that you want on the chart

How to Add Custom Pivot Points Indicator to MetaTrader 4

If the technical indicator you want to add is a custom indicator - for example if the Pivot Points technical indicator you as a trader want to add is a custom indicator you will need to first add this custom Pivot Points indicator on the MT4 platform & then compile custom Pivot Points indicator so that the newly added Pivot Points custom indicator pops up on the list of custom indicators in MT4.

To learn how to install Pivot Points indicators on MT4, how to add Pivot Points indicator window to MetaTrader 4 & how to add Pivots Points custom trading indicator in MetaTrader 4 - How to add a custom Pivot Points indicator in MT4.

About Pivot Points Technical Indicator Tutorial Explained

Pivot Points Analysis and Pivot Points Signals

This indicator consists of a central pivot which is surrounded by 3 resistance areas above & 3 support zones below.

Initially these points were used by floor traders to analyze and trade the equities and futures exchange markets. This trading indicator is regarded to be leading rather than lagging.

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

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

high,
low, and
close prices are used

The trading day closes at 5:00PM EST this daily market closing time is when the trading indicator is updated.

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

Resistance 3

Resistance 2

Resistance 1

Pivots Points

Support 1

Support 2

Support 3

How Do You Use Pivot Points Technical Indicator? - How Do I Add Pivot Points Indicator on MT4 Charts?

FX Analysis and Generating Signals

This trading indicator can be used in different ways to generate trading signals. The following techniques are the most common technical analysis:

Trend Identification Signals

The central pivot is used by traders to determine the general price trend direction. The trades taken only will be in direction of the market trend.

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

Price Breakout Signals

Price breakout signals are generated as follows

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

How Do You Use Pivot Points Indicator?

Price Breakout

Price Reversal Signal

Price reversals are generated as follows

Buy Trade Signal- when the price moves down toward one of the support zone, then touches support or moves just slightly through it then quickly reverses and moves upward.

Sell Trade Signal- when the price moves up toward one of the resistance zone, then touches the resistance or moves slightly through it then quickly reverses and moves downwards.

Price Reversal Signal Pivot Points Trading - How Do I Add Pivot Points Indicator on MT4 Charts?

Price Reversal Signal

Setting Stop loss and Limit Profit Values

The central pivot & the other support & resistance levels are used by traders to determine suitable stop loss & limit profit levels.

Settings Stop loss and Limit Profit Support Resistance Levels - How to Add Pivot Points Indicator in MT4 Charts

Setting Stop loss and Limit Profit

If a buy is placed above the central point the Resistance 1 or Resistance 2 can be used to set takeprofit level, and the Support 1 can be set as a Stop Loss Level for the trade transaction.

To download Pivot points technical Technical Indicator:

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

Once you download it. Open it with the MQL4 Language Meta-Editor, Then Compile the indicator by clicking Compile Button & it will be added to your Meta Trader 4 Platform Software.

NB: Once you add it to your Meta Trader 4 Software, the technical indicator has extra lines referred to as MidPoints, to remove the extra lines open MQ4 MetaEditor(shortcut key-board key - tap F4), and change line 16 from:

Extern bool mid-pivots = true:

Extern bool mid-pivots = false:

Then Press Compile Button again, & it will then appear as displayed on this site.

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