Pivot Points Daily Shifted Indicator

Pivot Points Daily Shifted Indicator

Pivot points daily shifted indicator for MT4 provides daily pivot lines with Resistance and Support lines to BUY and SELL. Free download and easy install.

The Pivot points daily shifted indicator for MT4 is a leading indicator that predicts the important support and resistance levels of the current day using the previous day’s values. These support and resistance lines assist forex technical traders to identify reversal points daily for successful day trading. So, forex traders can BUY or SELL at these reversal points.

Additionally, these lines act as potential take profit and stop-loss levels. So, forex technical traders can use the pivot points as a complete trading system that provides an entry point, stop loss and take profits for the current trading day. Additionally, the indicator can be used to formulate automated trading strategies.

The indicator is the best suitable for new and advanced forex traders. New traders can use the pivot as an independent trading system. However, advanced traders can combine the pivots with other technical indicators and tools. Moreover, pivot points form an important component of many auto trading strategies.

Pivot Points Daily Shifted Indicator For MT4 Trading Signals

In general, if the price opens above the Pivot level forex traders anticipate a Bullish day. Oppositely, an opening below the pivot mostly brings a Bearish day ahead. The basic rules of trading support and resistance apply to the Pivot points. It’s imperative that though the pivot lines act as reversal points a clear break of these lines invalidates the reversal signal.

Successful traders use price action to confirm the reversal or break of the lines. Once a support or resistance line is breached the next line comes into focus. Generally, Resistance 3 and Support 3 levels are strong reversal points. Pivot points do not change for a given day. So, forex traders can plan a technical trading strategy around these levels well in advance.

If the price reaches Support1, Support 2, or Support 3 traders anticipate a Bullish reversal and look for price action to confirm the same. Traders can enter the market with a BUY trade with a stop loss below the previous swing low or at the next lower support level. The best take-profit strategy is to book profits once the price reaches the resistance levels.

Similarly, if the price reaches Resistance1, 2, or 3 it indicates a good selling opportunity if the price action confirms the reversal. In this case, forex traders can place a SELL trade and book profits at the next support level. With a stop loss above the previous swing high or at higher resistance levels.

An important component of pivot trading is to validate if the price will reverse or continue the trend at a pivot level. So, forex traders should practice identifying these levels with price action and other technical indicators.

Conclusion
The Pivot points daily shifted indicator for MT4 is the classic pivot indicator shifted according to the hours. The daily pivots are indeed the most applied technical tool in forex, stocks, binary options, or any financial instrument. Additionally, traders can download the indicator for free and install it easily.