Pro4x Pivot Lines MT4 Indicator - Free MT4 Indicator

Pro4x Pivot Lines MT4 indicator – Free MT4 Indicator

In this strategy post today, we are really excited to introduce you to the Pro4x Pivot Lines MT4 indicator. 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. 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. The pivot points serve as a very good entry level and also as a very good exit level.

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The process of calculating the pivot points is totally automatic by the Pro4x Pivot Lines MT4 indicator. 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:

Forex Pivot Point = (High + Low + Close) / 3

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:

  • R2= P + (H – L) =P + (R1 – S1);
  • R1= (P x 2) – L;
  • S1= (P x 2) – H;
  • S2= P – (H – L) = P – (R1 – S1);

Because 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 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.


Pro4x Pivot Lines MT4 Indicator Settings

The Pro4x Pivot Lines MT4 indicator can be used in three distinctive modes. It can be sued to show only the pivot points with the subsequent support and resistance levels, secondly, it can be used to show only the Camarilla pivots which, unlike the standard pivots only use the third and fourth levels and are calculated using the following formula:

  • H4 = Close + (High – Low) * 1.1/2;
  • H3 = Close + (High – Low) * 1.1/4;
  • L3 = Close – (High – Low) * 1.1/4;
  • L4 = Close – (High – Low) * 1.1/2;

Pro4x Pivot Lines MT4 Indicator SettingsPro4x Pivot Lines MT4 Indicator Settings

Last but not least the Pro4x Pivot Lines MT4 indicator can be used to show only the mid-pivot points which are levels in between the standard support and resistance levels. On the top right-hand corner of your chart, the Pro4x Pivot Lines MT4 indicator will also display some useful information like previous day range, current day range as well as the HLOC information.

Going forward, we’re going to present a simple strategy using each trading mode of the Pro4x Pivot Lines MT4 indicator individually.


Pro4x Pivot Lines MT4 Indicator Trading Rules

First, we’re going to trade only by using the standard pivot points and the strategy presented is quite simple an easy to follow:

  • Time Frame: 15 Minutes
  • Currency Pair: Any
  • Buy Signal: Only buy if we’re trading above the central pivot and wait for a retest of the central pivot before entering long using a protective SL below S1, and splitting your profits between the R1, R2, and R3 levels
  • Sell Signal: Only sell if we’re trading below the central pivot and wait for a retest of the central pivot before entering short using a protective SL above R1, and splitting your profits between the S1, S2, and S3 levels

Pro4x Pivot Lines MT4 Indicator Trading StrategyPro4x Pivot Lines MT4 Indicator – Trading Strategy

We can use in combination with the central pivot and the subsequent support and resistance pivots the mid-pivots as well in order to refine our entry and exit points or for spotting in advance possible reversal points.

Since the most important levels for the Camarilla pivots are the third (L3, H3) and the fourth (L4, H4) and once the price reaches this level, it tends to revert to its mean we’re going to enter long once the market is extreme and reaches the L4 pivot using a protective SL of a static 30 pips. For short setups wait for the market to test the H4 pivot and use a protective SL of 30 pips and as a target the L3 pivot.

Pro4x Pivot Lines MT4 Indicator - Trading RulesPro4x Pivot Lines MT4 Indicator – Trading Rules

Because of applicability and usability, the Pro4x Pivot Lines MT4 indicator remains one of the best forex pivot indicators for the MT4 platform. The power of the Pro4x Pivot Lines MT4 indicator consists it its ability to plot a variety of pivot points all at the same time.

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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 prefer to use this indicator on 1H or 4H charts for better consistency.


[Video] How to Trade Using Pivots lines


How to Trade Using Pivot Lines


Pro4x Pivot Lines MT4 Indicator Download

We have provided this powerful trend trading 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.

And if you can, you really should invest in a proven MT4 Expert Advisor to help you generate some profit on full autopilot.

We highly recommend this powerful MT4 Expert Advisor.

Visit our Free MT4 Indicator Download page.

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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