Universal Pivot Indicator

Universal Pivot Indicator

Universal pivot indicator for mt4 – download free. Best trend reversal mt4 indicator. Accurate support and resistance indicator for mt4.

The Universal Pivot indicator for MetaTrader is a custom tool that automatically identifies and plots pivot points on your chart. It labels the identified lines as support (S1 to S3) and resistance (R1 to R3) which may also translate to optimal trade entry or exit zones.

The indicator was built with algorithms that track and calculate the values of the previous highs/lows of the price. This could be the previous closing price of the high or low of the day, week, or month. These values are afterward painted on your chart as the pivotal lines.

The dark BLUE line of the indicator is the potential support level while the RED line depicts the resistance level. This technical tool can come in handy as a strong support or resistance indicator to trade price reversals. Besides, it also works great for breakout trading because a broken support would become resistance, and vice versa.

Furthermore, the Universal Pivot indicator is well suited for different trading styles like scalping, day/intraday, and swing trading. Besides, it is also easy to use; hence, recommended for novice, intermediate, and advanced forex traders.

How To Trade With The Universal Pivot indicator

The above screenshot depicts how the Universal Pivot indicator would look on your MT4 chart. It also illustrates how to identify a valid trade setup.

The indicator doesn’t repaint; it may be used as a stand-alone tool for trade entries/exits. Nonetheless, it is recommended to be used in sync with price action/other technical indicators for a higher probability of trade setup.

BUY Signal: Firstly, wait for the price to break the resistance (red) level of the indicator to the upside, and also retest it with visible wick rejection. With this condition, you may then open a BUY/LONG position in sync with price action or after the retest candle closes as bullish.

SELL Signal: Firstly, wait for the price to interact with the resistance (red) level of the indicator and watch out for visible wick rejection. With this condition, you may then open a SELL/SHORT position in sync with price action (e.g. bearish engulfing. Pin bars, etc.).

Moreover, you may refer to the above screenshot for a better grasp of how to identify good trade setup. While Take Profit and Stop Loss are dependent on the trading style of every trader, it is best to approach the market with a realistic goal. In general, a 1:2 risk-to-reward is achievable with the Universal Pivot indicator.

Conclusion
The Universal Pivot Indicator for MT4 is the best tool to identify strong support or resistance levels for price reversal. It has the potential of boosting your winning trades, especially when used along with price action. Finally, it is free to download.

Joshua A. Francis