Pivot Star
This tool for MetaTrader 4 is specifically engineered to streamline your trading operations. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Pivot Star
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.
Description & Settings
This indicator draws current pivot points, it does not plot history. Clean and simple.
Choice of Standard, Fibonacci, Camarilla, Woody's and Demark pivot calculations.
Calculation is based on previous bar of chosen period.
double xOpen=iOpen(0,inpPeriod,1); double xClose= iClose(0,inpPeriod,1); double xHigh = iHigh(0,inpPeriod,1);
double xLow= iLow(0,inpPeriod,1);
Default setting is H1, for scalping.
input int xShift = 3; // X-Axis Shiftinput int xLen = 25; // Line Length
xShift positions pivot lines relative to the first bar (positive number shifts to the right).
xLen sets length of lines (by number of bars, in theory).
Two additional lines are drawn — Previous day's High and Low.
Every and each line can be set up to your liking: Color, Style, Thickness (set color to None to disable line).
Thicker lines are previous day's High/Low. Drawn only on lower than D1 time frames.
Camarilla Pivot includes L3, L4, L5, H3, H4, H5 lines. Other points are omitted as they're not really needed.
If viewing time frame is larger than indicator's set period, the lines are not drawn, otherwise they only obstruct.
Updated 05 Jun 2017.
Few changes, showing Previous Day's High/Low is optional; code changed so that it is now possible to use couple of instances for different time-frames (e.g. one for daily pivots, one for weekly, etc.).
