Forex Pivot MT4 Indicator - Free MT4 Indicator

Forex Pivot MT4 Indicator – Free MT4 Indicator

The Forex Pivot MT4 Indicator is a truly featured packed indicator which shows not just the pivot points but a host of other features as well which provides the trader with a complete overview of the markets that are unfolding. Featuring additional information such as swaps, spreads, support and resistance levels as well as showing the current daily bar that is forming, you will find the Forex Pivot MT4 Indicator well worth adding to your trading toolkits.

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The Forex Pivot MT4 Indicator Settings

The Forex Pivot MT4 Indicator comes with a lot of configuration settings which can be intimidating at first. Don’t be overwhelmed as we will guide you through step by step. The wide set of choices enables traders to fine tune the Forex Pivot Indicator according to their preferences. The picture below shows the Forex pivot MT4 indicator’s configuration settings.

Forex Pivot MT4 Indicator Settings
Forex Pivot MT4 Indicator Settings

Here is a brief rundown on the various settings that are possible.

GMT Settings: This feature can be used to fine tune the calculation of the pivot points. You can set the local time and the time zone of your broker to show the GMT offset.

Show Panel: When set to true, a small info panel is shown on the top left corner of the chart, which shows details such as the time remaining for the next bar, yesterday’s range in pips, the long and short swaps and the current spread.

Today/Yesterday Box Color: Using this feature, the Forex Pivot indicator plots a box around today’s and yesterday’s prices. This shows traders the current high and low as well as yesterday’s high and low prices. Quite a useful feature if you want to trade breakouts based on high low prices.

Show Day Candle: Enabling this feature will plot the day’s candlestick in real time as prices unfold. This is displayed on the extreme right side of your chart and traders can see in real time how the daily candlestick pattern is shaping out to be.

Show Daily/Fib Levels: This setting can be used to select the formula for calculating the pivot points. Traders can choose between the classic Pivot point levels or the Fibonacci pivot point levels.

Draw Lines Until: This can be used to show up to which timeframe the pivot levels are to be plotted. For example, selecting H1 will show the pivot points on all time frames below and up to H1.

There are also a host of design features which can be used to show where and how to display the pivot levels.

Show Pivot and Support/Resistance levels: These two features can be used to display not just pivot points but also support and resistance levels on the chart and can be further customized in terms of designs.

Within the pivot points more customization is possible with the option to display mid or quarter pivots. Traders can also choose to use the Camarilla pivot points as well.

Among a lot more other customizations, the Forex MT4 Pivot indicator can be used to display sweet spots or round number levels which is the last option available on this indicator.

The chart below shows the Forex Pivot MT4 indicator applied to the chart with a few of the settings used.

Forex Pivot MT4 Indicator ConfigurationsForex Pivot MT4 Indicator Configurations

Forex Pivot MT4 Indicator Trading Rules

With so many options and possible settings, the Forex Pivot MT4 Indicator can be used for a variety of strategies. You can use it for breakouts or even on pullbacks. For this strategy, we will cover on pullbacks which is safer and more conservative as compared to trading breakouts.

To make it easier, here’s a short summary of the trading rules for the Forex Pivot MT4 Indicator.

Entry Rule
When the price pulls back to support,  then go long.
When the price approaches resistance line, then it’s time to short.

Exit Rule
An easy exit system for this strategy is to set a 20 pip T/P target.

Stop Loss
Stop loss set at also 20 pip away from entry price.

Time Frames
Technically speaking, you can use this indicator for all time frames. However, the shorter the time frame, you will see more fluctuation and possibly more whipsaw which may cause small losses that can eat up your portfolio quickly. We recommend that you use higher time frames like the 4H for better consistency.

With the right application and practice (on your MT4 demo account first of course!) you should be able to master this strategy and indicator in no time.

Forex Pivot MT4 Indicator Download

We have provided this indicator to you at no cost. We humbly request for your help to spread the word by sharing on one of the social platforms below. To unlock the download link, you just need to share this page to help us achieve our goal of helping more traders out there.

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Leave us a comment below to let us know your thoughts on this indicator. If you like this indicator, you might like see other indicators that we have carefully selected that will help you in your trading journey.

Visit our Free MT4 Indicator Download page. And if you can, you really should invest in a proven MT4 Expert Advisor to help you generate some profit on full auto-pilot.

We highly recommend this powerful MT4 Expert Advisor.

We hope you have enjoyed this post as much as we have creating it. Good luck and thank you for your readership.

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