Auto Pivot Indicator

Auto Pivot Indicator

Forex market support and resistance levels from the best Auto Pivot Indicator for MT4. Find out the daily and weekly pivot.

The Auto Pivot Indicator is based on the concept of pivot points and is used to identify support and resistance levels.

The indicator typically displays three daily support levels and three daily resistance levels. These levels are derived from the pivot point, the average of the previous day’s high, low, and close prices.

In addition, the Auto Pivot also displays a daily and weekly pivot line. These lines act as a reference point to gauge the overall market sentiment.

How to use the Auto Pivot Indicator for MT4?

The above USD/JPY H4 chart shows the indicator on the chart. You can use this indicator in various ways. The support and resistance levels can serve as entry and exit points.

When the price approaches a support level, it may indicate a buying opportunity, while approaching a resistance level may suggest a selling opportunity. The interaction between the price and the pivot lines can also help identify key market reversals.

You can use the indicator with other technical analysis tools like the RSI or MACD to reduce false signals.

Conclusion
The Auto Pivot Indicator for MT4 displays the support and resistance levels and the daily and weekly pivot. This info helps in determining entry and exit points and key market reversals