The Pro4x Pivot Lines MT4 indicator can be used in three distinctive modes. The Pro4x Pivot Lines MT4 indicator helps the trader identify whether the market sentiment is bullish or bearish if the market price is trading above the pivot point than the sentiment for the day is bullish and conversely if the price is trading below the pivot point the market sentiment is bearish. The following pivot points that derive from the central pivot point which is actually an “offset”price or deviation from the central pivot and which represent support (S1, S2…) and resistance(R1, R2…) levels that are calculated using the following formula:īecause the pivot points are derived directly from the price it makes the Pro4x Pivot Lines MT4 indicator a leading indicator which can be used by traders to predict short-term movements in the Forex market. The forex pivot point also known as the central pivot point is calculated by using the data from previous trading day as the average of the high, low and close:įorex Pivot Point = (High + Low + Close) / 3 The process of calculating the pivot points is totally automatic by the Pro4x Pivot Lines MT4 indicator.

Pro4x Pivot Lines MT4 Indicator Download The pivot points serve as a very good entry level and also as a very good exit level. Once price reaches one of this pivot points there is almost always a reaction and if it manages to break through it there is a big movement. Pivot points is an indicator commonly used by professional traders and Hedge Fund managers alike because price tends to respect this level with a very high level of accuracy and secondly they serve as a strong support and resistance levels. In this strategy post today, we are really excited to introduce you to the Pro4x Pivot Lines MT4 indicator.

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