Best Pivot Points Setting for H1 Stock Chart

How to Add Pivot Points Stock Indicator in MT4 Stock Charts

Step 1: Open MT4 Software Navigator Window

Open MT4 Navigator window as shown below: Navigate to 'View' menu (click) and then choose 'Navigator' window (click), or From Standard Toolbar click 'Navigator' button or use keyboard short cut keys 'Ctrl+N'

On MT4 Navigator panel, choose "Technical Indicators", (Double-Click)

Best Pivot Points Settings for 1 Hour Stock Chart - Best Pivot Points Settings for 4 H Stock Chart

Step 2: Expand the Stock Indicators Menu on the Navigator

Expand the menu by clicking the expand button marker (+) or doubleclick 'indicators' menu, after this the button will appear as (-) and will now display a list of stocks indicators as shown below - select the Pivot Points indicator from this list of stocks trading MT4 indicators so as to add the Pivot Points indicator on the stock trading chart.

Best Pivot Points Settings for 1 Hour Stock Chart - Best Pivot Points Settings for 4 H Stock Chart

How to Add Custom Pivot Points Stocks Indicator to MetaTrader 4

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 stocks custom Pivot Points indicator on the MT4 software & then compile the custom Pivot Points indicator so that the newly added Pivot Points stocks custom MT4 indicator pops up on the list of custom indicators on the MT4 platform.

To learn how to install Pivot Points indicator in MetaTrader 4 platform, how to add Pivot Points indicator window panel to MT4 and how to add Pivot Points custom stocks indicator in MetaTrader 4 platform - How to add custom Pivot Points technical indicator in MT4.

About Pivot Points Stock Technical Indicator Guide

Pivot Points Stocks Analysis and Pivot Points Stock Signals

Pivot Points technical indicator consists of a center pivot point which is surrounded by 3 resistance areas above and 3 support areas below.

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

Pivot Points provide a quick way for stock traders to analyze the stocks price trend of how the stocks price is going to be moving during the day. A few simple calculations are used to draw the Pivot Points resistance and support levels.

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

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

The stock trading day closes at 5:00PM EST this daily closing time is when Pivot Points technical indicator is updated.

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

Resistance 3

Resistance 2

Resistance 1

Pivot Point

Support 1

Support 2

Support 3

Best Pivot Points Settings for 1 Hour Stock Chart - Best Pivot Points Settings for 4 H Stock Chart

Stocks Trading Pivot Points Analysis & How to Generate Pivot Points Stock Signals

Pivot Points indicator can be used in different ways to generate trading signals. Following strategies are the most common Pivot Points indicator technical analysis:

Pivot Points Stocks Trend Identification Trading Signals

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

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

Pivot Points Stocks Price Break-out Signals

Stocks price break-out trading signals are generated as follows

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

Best Pivot Points Setting for Stock Swing Trading - Best Pivot Points for Scalping Stock

Pivot Points Stocks Price Reversal Stocks Signal

Stocks price reversal stocks trading signals are generated as is explained below

Buy stocks signal - when price moves downward towards one of the pivot points indicator support area, then touches the support level or moves slightly through it then quickly reverses and moves upwards.

Sell stocks signal - when price moves up towards one of the resistance area, then touches resistance area or moves just slightly through it then quickly reverses and moves downward.

Best Pivot Points Setting for Stock Swing Trading - Best Pivot Points for Scalping Stock

Setting Stop-loss & Take Profit Stocks Order Areas using Pivot Points

The central pivot point and the other support & resistance zones are used by traders to determine suitable stoploss and take profit levels.

Best Pivot Points Setting for Stock Swing Trading - Best Pivot Points for Scalping Stock

If a buy stocks trade is placed above the central pivot point the Resistance 1 or Resistance 2 can be used to set the take profit level, & the Support 1 can be set as a StopLoss Stocks Order Level for the stocks 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 will be added to your MT4 stock platform.

NB: Once you add Pivot Points to your MetaTrader 4, the Pivot Points technical indicator has additional lines named MidPoints, to remove these additional lines open MQL4 Language Meta Editor(shortcut key-board key - press F4), & change line 16 from:

Extern bool midpivots = true:

To

Extern bool midpivots = false:

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

Best Pivot Points Settings for 1 Hour Stock Chart - Best Pivot Points Settings for 4 H Stock Chart - Best Pivot Points Setting for Stock Day Trading - Best Pivot Points Settings for Stocks Swing Trading - Best Pivot Points for Scalping Stock