Forex Pivot Points Indicator Metatrader 4

The forex pivot point calculator can come in handy, especially if you want to do a little back testing to see how pivot point levels have held up in the past. Remember, one of the advantages of using pivot points is that it is objective, so it’s very easy to test how price reacted to them.

This suggests that there is an opportunity to go short on a break below R1 with a stop at the recent high and a limit at the pivot point, which is now a support:. The examples below show a setup using pivot point in conjunction with the popular RSI oscillator. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose.

Screenshots of Forex Pivot Points

The Pivot Point Calculator will calculate 4 different Pivot Point types: Floor Pivot Points, Woodie's Pivot Points, Camarilla Pivot Points and DeMark's Pivot Points. For Each type, 4 levels of resistance and support will be calculated based on a high price, low price, close price and an open price (for DeMark's Pivot Points only).

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