dynamic pivot
Info
The dynamic pivot is a Indicator for MetaTrader 4 that supported timeframe :current m1 m5 m15 m30 h1 h4 daily weekly monthly quarterly (buggy - removed) semester (buggy - removed) formula :resistance 3 = high + 2 * (pivot - low) resistance 2 = pivot + (r1 - s1) resistance 1 = 2 * pivot - low pivot point = (high + close + low) / 3 support 1 = 2 * pivot - high support 2 = pivot - (r1 - s1) support 3 = low - 2 * (high - pivot).
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 dynamic pivot
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
supported timeframe :current m1 m5 m15 m30 h1 h4 daily weekly monthly quarterly (buggy - removed) semester (buggy - removed) formula :resistance 3 = high + 2 * (pivot - low) resistance 2 = pivot + (r1 - s1) resistance 1 = 2 * pivot - low pivot point = (high + close + low) / 3 support 1 = 2 * pivot - high support 2 = pivot - (r1 - s1) support 3 = low - 2 * (high - pivot).
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: dynamic moving average - another powerful indicator for MetaTrader 4 traders.
supported timeframe :
current
m1
m5
m15
m30
h1
Also recommended: pivot rs session indicator - similar indicator with strong performance on MetaTrader 4.
h4daily
weekly
monthly
quarterly (buggy - removed)
semester (buggy - removed)
formula :
resistance 3 = high + 2 * (pivot - low) resistance 2 = pivot + (r1 - s1) resistance 1 = 2 * pivot - low pivot point = (high + close + low) / 3 support 1 = 2 * pivot - high support 2 = pivot - (r1 - s1) support 3 = low - 2 * (high - pivot)
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.20"
#property strict
enum cmy_enum_timeframes {
tf_m0 = 0, // current
tf_m1 = 1, // 1 minutes
tf_m5 = 5, // 5 minutes
tf_m15 = 15, // 15 minutes
tf_m30 = 30, // 30 minutes.......
⚠ 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.