Pivot Points Indicator
Pivot point indicator with an addition of 4 ways of calculating pivot points :
- (Previous High +Previous Low + Previous Close)/3
- (Previous High +Previous Low + Previous Close + Previous Close)/4
- (Previous High +Previous Low + Previous Close + Open)/4
- (Previous High +Previous Low + Open + Open)/4
Added "alternate way" of calculating pivot support and resistance lines - I found that in a lot of versions the R3 and S3 are calculated differently than the original (it effectively makes it "tighter" than the original) so I decided to enable that way too.
Original Code:
https://www.mql5.com/en/code/16702
Modified by me:
pivot_points.ex5
pivot_points.mq5
Close SELL in S1:
Close BUY in R1:
Open:
Close in Pivot R1:
Close in Pivot S1:
Ulises Thank you for that incredible contribution! I finally get to know how to work with the custom indicator. I cant thank you enough for all your threads!