Pivot Point Universal Indicator

Pivot Point Universal Indicator is the best MT5 trend reversal indicator. Accurate support and resistance indicator for MT5.

The Universal Pivot Point Indicator for MetaTrader is a highly customizable tool that automatically detects and displays pivot points on your chart. It marks the identified lines as support (S1 to S3) and resistance (R1 to R3), which can also indicate optimal trade entry or exit zones.

The indicator is built using algorithms that track and calculate the values of previous price highs/lows. This can be the previous high or low of the close of the day, week, or month. These values are subsequently displayed on the chart as control lines.

This technical tool can come in handy as a strong support or resistance indicator for price reversal trading. It is also great for trading breakouts because support that is broken becomes resistance and vice versa.

In addition, the versatile Pivot Point indicator is well suited for various trading styles such as scalping, day/intraday trading, and swing trading. In addition, it is also easy to use; therefore recommended for beginners, intermediate and advanced forex traders.

How To Trade With The Pivot Point Universal Indicator

The screenshot above shows how the universal Pivot Point indicator would look on your MT5 chart. It also illustrates how to determine a valid trade setup.

The indicator does not redraw; it can be used as an independent tool for entering/exiting a trade. However, it is recommended to use it in sync with price action/other technical indicators for a higher probability of opening a trade.

BUY Signal: First, wait until the price breaks the indicator’s resistance level up and retest it with visible wick rejection. With this condition, you can enter a BUY/LONG position in sync with the price action or after the retest candle closes bullish.

SELL Signal: First, wait for price to interact with the indicator’s resistance level and watch for visible wick rejection. With this condition, you can open a SELL/SHORT position in sync with the price action (eg bearish engulfing. Pin bars, etc.).

You can refer to the screenshot above for a better understanding of how to spot a good trade setup. While take profit and stop loss depend on each trader’s trading style, it’s best to approach the market with a realistic target. As a rule, using the universal Pivot Point indicator, you can achieve a risk-reward ratio of 1:2.

Conclusion
The universal Pivot Point indicator for MT5 is the best tool for identifying strong support or resistance levels for a price reversal. It can increase your winning trades, especially when used in conjunction with price action. Finally, it’s free to download.