identify potential trends/range (pivot points) + entry points
Info
The identify potential trends/range (pivot points) + entry points is a Indicator for MetaTrader 5 that introduction: the story behind this indicator is really interesting. i've published last week a script called "identify potential trends/range (pivot points)" and a huge number of mql5(ers) contacted me to ask if it is possible to have it as an indicator.
Usage
This tool is typically used for trend following strategies across multiple currency pairs.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use identify potential trends/range (pivot points) + entry points
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
introduction: the story behind this indicator is really interesting.
Typical Use Case
This Indicator excels in trend following on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: MA Gauge Pro - AKM: Unlocking Market Adaptability and Maximizing Trading Potential - another powerful indicator for MetaTrader 5 traders.
Also recommended: gold fvg finder: identifying and trading market imbalances - similar indicator with strong performance on MetaTrader 5.
introduction:the story behind this indicator is really interesting. i've published last week a script called "identify potential trends/range (pivot points)" and a huge number of mql5(ers) contacted me to ask if it is possible to have it as an indicator. so i was glad that lot of people actually like my scripts and indicators so that is why i've decided to convert the script to this indicator.
as a reminder, the purpose of this indicator is to help eyeball ranging market and trending market instead of doing all the work myself. it is true there are plenty of other indicators that help us eyeball these ranging/trending market and they work really well, but i like using pivot points.
do not forget to send you comments as well as rate these scripts. happy trading!
live trading session:
you can check the following live trading sessions and see how i was using my products in my trading
remark:
you can consult the below video that will help you to install and test this indicator.
You may also like: identify potential entries - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_chart_window
#property indicator_plots 0
#include <candlestick.mqh> // candlesticks ohlc, charateristics & type
#include <onnewbarcalculate.mqh>
string sarrowbuy1 = "";
string sarrowsell1 = "";
datetime dtbartimez = 0;.......
⚠ 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.