Daily Weekly Monthly HiLo Pivot Points Indicator

Daily Weekly Monthly HiLo Pivot Points Indicator

Daily Weekly Monthly HiLo Pivot Points represents the best price level analysis indicator for forex & stock trading in MT4. Suits MTF charts & all trading strategies.

The Daily Weekly Monthly HiLo Pivot Points indicator is the most sophisticated price-level analysis tool developed for MetaTrader 4 platforms. It is the best alternative to automatic support/resistance indicators for identifying key event areas on price charts.

Technically, the pivot point itself is a support and resistance indicator. It calculates a price average based on intraday high, low, and closing prices over different timeframes. Professional traders consider daily, weekly, and monthly pivots as strong support/resistance levels as it is evident that the price is often used to reverse from these areas.

The price-level analysis is an undeniable part of technical trading, especially in forex and stocks. The indicator make it easier for you to identify the possible upcoming price swing levels and anticipate the trend direction as well. For instance, the price fails to break above the immediate intraday pivot resistance may indicate the price is still under a bearish trend condition.

In this guide, you’ll learn how to use the Daily Weekly Monthly HiLo Pivot Points in MT4 for identifying the potential buy/sell zones in forex, stocks, commodities, and cryptos.

How to determine key buy/sell levels by using the Daily Weekly Monthly HiLo Pivot Points indicator in MT4

In the first pattern (1), the price plots a bearish pin bar and a large bearish candle consecutively. Indicating the price rejects the daily pivot and intends to remain bearish. As you can see, the price later chose to move downwards following the formation of the bearish reversal pattern.

The second pattern (2) shows a series of solid bullish pin bars rejecting the immediate pivot support. This bullish reversal pattern indicates the price is likely to initiate an uptrend move from the current support zone.

The third example (3) shows a continuation pattern of the current market trend. The price entered a downtrend after it moved below the weekly pivot level. Later, the price retraced to the weekly pivot and treated the level as resistance. Indicating the price may continue moving downwards, respecting the current downtrend condition.

Conclusion
The Daily Weekly Monthly HiLo Pivot Points indicator offers a great privilege for technical traders, especially beginners who struggle to perform regular price-level analysis in live markets. It doesn’t matter if you’re a scalper or intraday trader; you must be aware of the potential price swing areas for anticipating precise buy-sell positions. Once you install the indicator in your MT4 platform, it automatically starts showing the key event levels of the price and guides throughout the entries and exits of your orders.