# Auto pivot points 4, best pivot point indicator for metatrader 4 (mt4)

Pivot points are used by many traders to help them identify potential areas of tư vấn và resistance.

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One of the reasons pivot points are so popular is because whereas manually drawing and plotting support & resistance is subjective, pivot points are a mathematical calculation và are objective sầu.

In this post we look at what exactly a pivot point is, how to lớn calculate them & how you can use indicators in MT4 and MT5 to lớn have sầu them automatically added to lớn your charts.

## What is a Pivot Point

A pivot point is an area of potential support or resistance where price may ‘pivot’ or change its direction.

To pivot means to lớn turn. These levels are used as potential areas where price may turn.

As we discuss just below; pivot points are formed by using a phối calculation. Whilst pivot points are similar lớn using support & resistance you have sầu marked, or Fibonacci levels, with those two methods you still need to lớn use your own judgment on where the levels should go. Pivot points are calculated & added lớn your chart as levels.

There are two main strategies used for trading pivot points that we will discuss in this lesson you can implement in your trading; trading from the tư vấn / resistance, or trading the breakout.

## How to Calculate Forex Pivot Points

Whilst you will not have sầu khổng lồ manually calculate your pivot points because you can have sầu an indicator vì chưng it for you, it is useful lớn know how exactly your pivots are being created.

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The calculation used lớn create pivot points is;

(High + Low + Close) / 3 = PP (pivot point)

As you can see on the chart below; not just the pivot point is added, but also support và resistance levels. These are calculated by;

(2 x PP) – Low = First resistance level

(2 x PP) – High = First tư vấn level     The MT4 pivot point indicator also comes with some handy settings that you are able to lớn customize such as line colors, the amount of periods khổng lồ use và how many period to show on your charts.

Get the MT4 Pivot Point Indicator by FXSSI

## Download và Use MT5 Pivot Point Indicator

NOTE: If you vị not yet have the correct charts make sure you read about the best trading charts và the broker lớn use these indicators with here.

This is a simple, clean và easy lớn use MT5 pivot point indicator. Once downloaded and installed you will be able khổng lồ use it khổng lồ mark your pivot points và three tư vấn and resistance levels.

Using the data from the previous days session it calculates the tư vấn và resistance levels using the same calculation method discussed in this post above.

When added khổng lồ your chart you will have three different colored lines. Orange representing the pivot point, red for tư vấn levels and green for resistance levels.

Get the MT5 Pivot Point Indicator

## Lastly

Whilst pivot points are mathematical calculations using the previous price actions data, you should still use other strategies to lớn increase your chance of making winning trades.

These strategies might include using other technical analysis methods, candlestiông chồng patterns or other indicators such as a moving average.

Chuyên mục: Đầu tư