Pivot Point for signal or confirmation

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Yannis Latroche
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  • Completed

Pivot Point is one of the indicator i use the most for my strategies, either confirming trend, breakout retest or consolidation and combining with others indicators ... well used it's a good indicator that give confirmation and objectives.

We could either put support/resistance or only pivot point to see the trend in the timeframe of our choice

An example worth a thousand words

Below is a EURUSD M5 chart with daily Pivot (Short Term)

Image 1087

And here EURUSD H1 weekly Pivot

Image 1088

I took the best case scenario for illustrating my thoughts but sometime the market doesn't want to give us profit

For MetaTrader indicators i found for both 4/5

https://www.mql5.com/en/market/product/10298?source=Site+Market+MT5+Indicator+Search+Rating004%3apivot+point

https://www.mql5.com/en/code/10990

Duplicates 2
hello trader i have one strategy i want to convert it into EA but i dont know coding can any one convert this
Support and Resistance/Admiral Pivot (stochastic&RSI) H1and Up

I suggesting to dev adding a support and resistance and Admiral Pivot for Stochastic and Rsi strategy in H1 and higher Timeframe.

its really big help for more accurate signal  less false signal for Stochastic and RSI also this stochastic and Rsi strategy is use to all Forex Symbol i hope the dev add it.

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Sai Pratap

We already have a suggestion for pivot points.

This can be clubbed and taken up with that. 

But camarilla is generally used for entities with more volatility. I don't think this can be used for EURUSD but may help other pairs like GBPUSD.

If u have code for this, that would make the job easy for Andrey sir.

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Yannis Latroche
Quote from Sai Pratap

We already have a suggestion for pivot points.

This can be clubbed and taken up with that. 

But camarilla is generally used for entities with more volatility. I don't think this can be used for EURUSD but may help other pairs like GBPUSD.

If u have code for this, that would make the job easy for Andrey sir.

It can define a trend it depends on the use, obviously the more volatility the better

I've found one for MT5 but i need to find for MT4 too ?

pivot.mq5.html

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Ulises Cune
Quote from Yannis Latroche

It can define a trend it depends on the use, obviously the more volatility the better

I've found one for MT5 but i need to find for MT4 too ?

pivot.mq5.html

MT4

PZ_PivotPoints.mq4

MT5

Pivot.mq5

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0
Sai Pratap

U can use third party indicator option for this. Give it a shot :)

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Miano's Tech

yahhh you right i use third party indicator for this and i use it to EA Scriptbot Global  not in this community power EA its not really good idea its better its stay in built-in indicator of community power for best good result...

i suggesting it because i try to optimize community power in higher timeframe 30M, H1 , H4 , Daily .... well i already read the other suggestion adding a custom external indicator in EA Community Power ... its more likely like ScriptBot Global using a built in indicator or you add any kind of  external indicator on it to create your own strategy... 

by the way thanks for your suggestion to me....

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Sai Pratap

Sry I could not understand y u want it to be as an inbuilt indicator! How does it differentiate being inbuilt or external indicator in optimizing? 

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Miano's Tech
Quote from Sai Pratap

Sry I could not understand y u want it to be as an inbuilt indicator! How does it differentiate being inbuilt or external indicator in optimizing? 

built in indicator to expert is more accurate.. if i understand  many developer of EA expert the signal buffer of the indicator is connect to expert advisor for signal of entry or buying selling signal or exit that's it! if you are a developer you know that.... in external indicator if use that in the EA in the chart !! maybe its  deteriorate it's performance. For trading or create a ERROR .... community power have already built in indicator on it thats signaling buying or selling or entry exit its connected to the buffer of built in indicator already .....

here the answer

if you are a developer you know the deference between the in built indicator to external indicator in optimizing in trading strategy ordeteriorate it's performance or create a error ...  

are you developer.....???

you know the indicator internal or external indicator have a buffer...???? buffer is use for signal buying selling entry ect. and its connected to EA Expert... well i think you dont know that.....

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Andrey Khatimlianskyi
  • Under review
Quote from Miano's Tech

built in indicator to expert is more accurate.. if i understand  many developer of EA expert the signal buffer of the indicator is connect to expert advisor for signal of entry or buying selling signal or exit that's it! if you are a developer you know that.... in external indicator if use that in the EA in the chart !! maybe its  deteriorate it's performance. For trading or create a ERROR .... community power have already built in indicator on it thats signaling buying or selling or entry exit its connected to the buffer of built in indicator already .....

here the answer

if you are a developer you know the deference between the in built indicator to external indicator in optimizing in trading strategy ordeteriorate it's performance or create a error ...  

are you developer.....???

you know the indicator internal or external indicator have a buffer...???? buffer is use for signal buying selling entry ect. and its connected to EA Expert... well i think you dont know that.....

Hey!

Please stop promoting other paid EAs.

Better try to explain signal/filter you want to add to the CP.

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0
Sai Pratap
Quote from Miano's Tech

built in indicator to expert is more accurate.. if i understand  many developer of EA expert the signal buffer of the indicator is connect to expert advisor for signal of entry or buying selling signal or exit that's it! if you are a developer you know that.... in external indicator if use that in the EA in the chart !! maybe its  deteriorate it's performance. For trading or create a ERROR .... community power have already built in indicator on it thats signaling buying or selling or entry exit its connected to the buffer of built in indicator already .....

here the answer

if you are a developer you know the deference between the in built indicator to external indicator in optimizing in trading strategy ordeteriorate it's performance or create a error ...  

are you developer.....???

you know the indicator internal or external indicator have a buffer...???? buffer is use for signal buying selling entry ect. and its connected to EA Expert... well i think you dont know that.....

Iam not developer.

To my understanding, I expected it to be of does not make any difference. 

If it really makes difference and if Andrey sir finds the indicator worth it, he will decide to include :)

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Miano's Tech
Quote from Andrey Khatimlianskyi

Hey!

Please stop promoting other paid EAs.

Better try to explain signal/filter you want to add to the CP.

ok dev sorry about that i explain how the indicator work external or built in in the EA and i give a example only so i give the link of other  EA that use external and internal indicator and how it work with the buffer of indicator on EA well I'm not promoting that EA its only example if he want to know how the indicator work in optimizing or create strategy. So he have an idea how the deference of inbuilt indicator to not inbuilt.

by the way sorry dev. well i observe the CP EA and i use it higher timeframe H1 and up with combo of other inbuilt indicator RSI stochastic for long trade and  i notice its need support and resistance. The support and resistance levels help identify the point, which the price is likely to achieve before the reversal of the trend. Use them together with the RSI and you will get a pretty clear picture of a forthcoming trend reversal.

The support and resistance levels are widely used among traders to determine the points of the trend reversal. However, they are not saying much about the direction of this reversal. And this is why it is a very good idea to use some other indicators along the way. This guide’s purpose is to show you how to trade using the support/resistance lines and the Relative Strength Index (RSI).

admiral pivot or pivot point

Pivot points were initially used on stocks and in futures markets, though the indicator has been widely adapted to day trading the forex market.

Pivot points have the advantage of being a leading indicator, meaning traders can use the indicator to gauge potential turning points in the market ahead of time. They can either act as trade entry targets themselves by using them as support or resistance, or as levels for stop-losses and/or take-profit levels.

also dev pivot point its really big help for long trading or intraday trading with help of other indicator like RSI also the other for more accurate confirmation or filter for the signal if reversal or not its really big help

EXAMPLE....


A bullish RSI divergence happens when the price is trending lower (making lower lows), but the RSI makes higher lows in the oversold region (below 30).

If, for instance, this happens on S1, it is a strong signal to buy the underlying market with the expectation that S1 will provide enough support for an uptrend to be kick-started. A stop loss for the buy order can be placed below S2 and S3, with profit targets placed at PP, R1, R2, and R3 or even above.

On the other hand, a bearish divergence occurs when the price is trending higher (making higher highs), but the RSI makes lower highs in the overbought region (above 70). This is a signal that the prevailing uptrend is losing momentum, and a downtrend is about to start.

A bearish divergence happening at the pivot line implies that the price is about to face resistance in the market. For instance, an RSI bearish divergence happening on R1 will prompt sell orders that will target PP, S1, S2, and S3 as profit targets, with stop losses placed above R2 and R3.

When using Pivot Points, it is important to understand that support and resistance lines are action areas. When watching the lines, it is important to trade after confirmation is received.