If you are searching for the best indicators site then you are at the right site. Today, we are going to discuss the best indicator for the Forex trading system and the Meta trader platform. Today, we will discuss pivot point indicator, we will discuss what pivot point is,

why it is used in Forex trading system, how we can calculate the pivot point, and what are the uses of pivot point?  Firstly, we are going to discuss the pivot point.

WHAT PIVOT POINT IS?

The pivot point is a point in the financial market used for indicating price levels in the Forex market. It can be used as average price changes and it also tells whether the price is moving up or down. It also tells high, low, and close prices and it is the most useful point in the Forex market.

## Hourly Pivot Point Indicator for MT4 Free

The pivot point indicator is the best pivot indicator. This indicator is useful because it shows the authentic foundation of the value that some other rotate indicator doesn’t show. Verifiable foundation implies it shows the high points and low points of Yester, seven days prior, and a month back. It can separate between various days’ patterns with the assistance of this rotate indicator you can make a sound benefit.

For calculation, it utilizes information like High (H), Low (L), and Close (C). This information is taken from the earlier day, week, and month’s exchange.

Pin Bar Scanner indicator

Best Price Action

This indicator likewise advises which time is ideal to purchase section and exit and which time is best for sale passage and exit. Count recipes for the rotate point, opposition (r1, r2, r3, r4) and support (S1, S2, S3, S4). This indicator uses different formulas. These formulas are given below: –

FORMULA: –

PP = (H + L + C) / 3
R1 = (2 * PP) – L
R2 = PP + RANGE
R3 = PP + RANGE * 2
R4 = PP + RANGE * 3
S1 = (2 * PP) – H
S2 = PP – RANGE
S3 = PP – RANGE * 2
S4 = PP – RANGE * 3

R1 = C + RANGE * 1.1 / 12
R2 = C + RANGE * 1.1 / 6
R3 = C + RANGE * 1.1 / 4
R4 = C + RANGE * 1.1 / 2
S1 = C – RANGE * 1.1 / 12
S2 = C – RANGE * 1.1 / 6
S3 = C – RANGE * 1.1 / 4
S4 = C – RANGE * 1.1 / 2
PP = (S1 + R1) / 2

PP = (H + L + (C * 2)) / 4
R1 = (2 * PP) – L
R2 = PP + RANGE
R3 = R1 + RANGE
R4 = R3 + RANGE
S1 = (2 * PP) – H
S2 = PP – RANGE
S3 = S1 – RANGE
S4 = S3 – RANGE

## Standard Daily Pivot Point Indicator MT4

There are some rules for buy entry and exit. The rules are given below: 1. When the candlestick pattern is moving above the pivot point then it is the time for a buy entry.
2. When the candlestick pattern is above the pivot point and a blue line appears below the candlestick pattern then it is the time to hit buy option and buy any currency pair available at that time.
3. When the candlestick pattern starts moving below the pivot point then it is the time for exit-entry and stops loss.

RULES FOR SELL ENTRY AND EXIT:

There are also some rules for sell entry and exit that are given below:

1. When the candlestick pattern is moving below the pivot point then it is the time for sale entry.
2. When the candlestick pattern is below the pivot point and red line appears above the candlestick pattern then it is the time to hit sell option and sell any currency pair available at that time.
3. When the candlestick pattern starts moving above the pivot point then it is the time for exit sell and takes the profit.

## Weekly & Monthly Perfact pivot point Strategy indicator MT5

You can change resistance level to red shading, support level to green shading, and rotate highlight blue shading. You can likewise utilize any shading for these three focuses on the goal that you can comprehend it.

You can likewise change the level hues with the goal that you can without much of a stretch recognize which level is up and which one is down. As I said over that it updates support levels and resistance levels. In this manner, traders trust that the cost will reach close to the support or the resistance level before entering the exchange. This indicator is basic and clean.

It gives a perfect pivot point that is demonstrated without any mistake.

Renko Chart Indicator

There are different types of pivot points in the Forex trading system.  These types are given below: –

1. Standard pivot point
2. Fibonacci pivot point
3. Demark Pivot Point

## Standard Pivot vs Fibonacci Pivot

STANDARD PIVOT POINT: –

It is the common type of pivot point indicator that is mostly used. It uses the arithmetic formula for calculating high and low pivot points in the moving periods of the market trend.

It uses a formula to calculate resistance and support levels in the market trend. Fibonacci Pivot point: –

The Fibonacci pivot point is the type of pivot point indicator used to detect the starting points in the market trend and standard pivot points. It is a scoring scale that tells about the price changes in the market trend. It uses a different formula for its calculation.

### Pivot Point Reversal Indicator system

DEMARK PIVOT POINT: –

Demark pivot point is the last and the most unique type of pivot point. It is used to detect the highlighted price in the forex market. It also uses its specific formula for its calculation.

USES OF PIVOT POINT INDICATOR MT4: –

There are different uses of pivot point indicators some of them are given here. Mostly, this indicator is used to detect the specific pivot points in the market trend which tells about the best high low and close points in the market trend. It is the best indicator used for the best and profitable trade in the forex trading system.