Hourly Pivot Points Indicator

Hourly Pivot Points Indicator

Forex BUY and SELL signals from the best Hourly Pivot Points Indicator for MT4. Find support and resistance levels.

The Hourly Pivot Points Indicator for MT4 is a simple MT4 indicator that plots support and resistance levels on the hourly chart. The indicator draws three support and three resistance levels on the current hourly bar. The indicators highlight the support levels in green, while it mentions the resistance levels in red.

The Indicator also plots a pivot line. This pivot line suggests when the market is going to take a reversal. As the name suggests, the Hourly Pivot Points Indicator for MT4 works only on the hourly chart.

Hourly Pivot Points Indicator for MT4 BUY/SELL signals

The above EUR/USD H1 chart shows the indicator on the chart. The indicator works like normal support and resistance levels. When the current price is at the support level, traders can take long positions. On the other hand, when the price is at the resistance level, traders can go short.

The indicator involves quick in and out, so traders need to identify the levels and then enter the trade with tighter Take-profit and Stop-loss. It’s best to use the Hourly Pivot Points Indicator and other indicators to confirm the overall trend’s direction.

What indicator works best with pivot points?

Traders can try various indicators for pivot points, like the Moving Average or Fibonacci Extension. Additionally, traders can also try the Indicator for the best results.

Do professional traders use pivot points?
Yes, pro traders use pivot points to identify support and resistance levels. With the Indicator, traders can locate three support and three resistance levels, taking the guesswork out of the equation.

Conclusion
The Hourly Pivot Points Indicator for MT4 draws support and resistance levels on the current hourly bar. By navigating these levels, traders can take their positions. Also, the indicator tells the potential pivot point on the current bar. In addition, you can download the indicator for free on our website.