Pivot Star Indicator

Pivot Star Indicator

Pivot Star Indicator For MT4 automatically plots 5 types of pivots, 3 resistance lines, and 3 Support lines for forex trading.

The Pivot star indicator for MT4 automatically calculates and plots the pivot lines and 3 resistance and support levels. Additionally, forex traders can choose between Standard, Fibonacci, Camarilla, Woodie, and Demark pivots for calculation. Moreover, the indicator displays the values of the pivot and resistance 1, 2, and 3. Similarly, it shows the support 1, 2, and 3 values.

The indicator is easy to apply and is best suited for new and advanced forex traders. Additionally, forex traders can download the indicator for free and install it easily.

Pivot Star Indicator For MT4 Trading Setup

The above GBPUSD M15 candlestick price chart shows the pivot star indicator for MT4 in action. Moreover, the indicator plots the pivot point in green, Resistance 1 as a red dotted line, Resistance 2 as a dash, and resistance 3 as a solid line. Similarly, the indicator plots Support 1 as a dotted blue line, support 2 as a dash, and support 3 as a solid blue line. Moreover, the indicator plots yesterday’s high as a red line and yesterday’s low as a blue line.

If the price is above the pivot line, it indicates a bullish market trend. So, forex traders can enter the market with a buy position with a stop loss below the nearest support line and book profits at the next resistance line.

Similarly, the trend is bearish if the price is below the pivot. So, traders should place a sell trade with a stop loss above the nearest resistance and book profits at the next support level.

Conclusion
Generally, the pivot star indicator for MT4 provides the forex traders with pivot points and R1, R2, R3, and S1, S, and S3 levels. So, forex traders can identify the bullish and bearish market trend and buy and sell accordingly.