daily pivot, resistance and support levels assist
Info
The daily pivot, resistance and support levels assist is a Indicator for MetaTrader 4 that this is an indicator on daily pivot points and support and resistance levels. it shows pivot point, resistance1,resistance2, resistance3, and the corresponding support level values in one of the corners on the chart.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use daily pivot, resistance and support levels assist
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
this is an indicator on daily pivot points and support and resistance levels.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: multi-timeframe indicator: daily, 4-hour, and 1-hour bars - another powerful indicator for MetaTrader 4 traders.
Also recommended: average daily range indicator - similar indicator with strong performance on MetaTrader 4.
this is an indicator on daily pivot points and support and resistance levels. it shows pivot point, resistance1,resistance2, resistance3, and the corresponding support level values in one of the corners on the chart. whoever uses it can change the corner where the values are displayed changing the base_corner variable in the inputs tab.
this indicator can be used for drawing pivot point,resistance and support levels on the chart with vertical lines on the values shown. if the market is trading above the pivot point, the market's sentiment is bullish and may find resistance levels. if the market is trading below the pivot point, the market's sentiment is bearish and may go down to support levels.
You may also like: daily pivot indicator - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property strict
#property indicator_chart_window
input enum_base_corner base_corner = corner_left_upper;
int oninit()
{
objectdelete("pivot_line");
objectdelete("re1");.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.