Pivot Points, daily, weekly and monthly. See the most important levels for each timeframe automatically
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(14.57 kb) Version AutopivotIndicator.ex4
Knight Auto Pivot Indicator
Expert Reviewed
| Our rating: | Rated 4 out of 5 stars |
| Avg rating: | Rated 0 out of 5 stars |
| Type | TI |
| Pairs | ALL |
| Time frames | ALL |
| Market sessions | ASIA, AMERICA, EUROPE |
| Required experience | beginner |
| Code | Compiled Code |
| License | Free |
Updated: 02/07/2010
Expert Reviews
Expert Usage Review
by Valeria Bednarik - expert rating: Rated 4 out of 5 stars
As all of Mr. Knight’s indicators, this is a useful and visual tool based on classic pivot points. It shows in any probable time frame, where the daily and weekly pivot levels are, making easier to locate support and resistance areas according to this fixed calculation technique. However what I found extremely interesting regarding this particular one, is that it keeps in the charts historical PP data. In general PP indicators calculate the last one, yet in here, you can study a certain pair behavior regarding the PP levels, and perform a complete back testing of it, as all the information is there in the chart.
Not a trading tool per se, as it won’t give buy or sell signals, but surely a good one to a) determine static support and resistances areas, and b) study pairs for behavior. I give it 4 stars.
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Any chance this can be available for MT5?