I Pip Tom Demark Pivot Indicator
The I Pip Tom Demark Pivot Forex Indicator is a popular and helpful MT4 indicator. It plots pivot levels on the chart and alerts you when the price hits a specified level. This indicator is suitable for all periods and an excellent tool for novice and expert traders.
How To Use The I Pip Tom Demark Pivot Indicator For MT4
This indicator, created by Tom Demark, employs pivot points to detect support and resistance levels and the market trend. You can use it to determine entry and exit positions and the strength of a trend. The IPip Tom Demark Pivot indicator plots three lines on the chart: the pivot point, resistance, and support levels.
Wait for a candle to close above the support level for the buy entry signal. Enter a long trade after this candle closes and place your stop loss below the previous low. Place your take profit on the resistance.
Wait for a candle to close below the resistance level for the sell entry signal. Enter a short trade after this candle closes and place your stop loss above the previous high. Place your take profit on the support.
Conclusion
The I Pip Tom Demark Indicator for MT4 plots three lines on the chart. These are a support, resistance, and a pivot. You can use these lines to generate clear trade entry signals.
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