After calculating the daily or weekly pivot points, how do you actually get them onto your MT4 chart?
Plot each level using horizontal lines?
How did you calculate them?
Hi Daydreamer, yes i meant plotting each level using horizontal lines. I can calculate them using a pivot point calculator.
Once calculated though, how do you plot them on your MT4 chart?
There are pivot point files about which plot the lines
for you, but I have always been inclined to just draw them
on the charts myself, ie horizontal trendline at each point,
R1,R2, Pivot, S1,S2 etc.
That way I can also check the charts as I go for other factors.
If you would like to look for an indicator to draw them though
take a look at the website below.
Thanks a lot for that. One more final question, could you explain to me how you actually get those EA’s to go into your MT4 chart?
Hmmm,
I see daydreamer65 ‘beat me to it’!!!
I was GOING to say:
Why not just download a pivot point indicator from here:
Pivot Points Set up on MetaTrader 4 - MQL4 forum
(I’ve not tested this because I don’t use MetaTrader).
I would STRONGLY suggest that whatever pivot point indicator you find and use: you CROSS CHECK the values with your MANUAL calculation to make sure that the indicator is correct AND (many people are not aware of this) to see WHICH pivot points the indicator is giving you i.e. there are different TYPES of pivots as well e.g. there are ‘Floor’ pivots, ‘Standard’ or ‘Common’ or ‘Classic’ pivots, ‘Camarilla’ pivots, ‘DeMark’ pivots!!! Be sure to ‘verify’ the indicator with MANUAL calculations (and believe me: this advice is not only applicable to pivots)!!!
Regards,
Dale
Would you like us to trade for you as well??? (Only kidding)!!!
Your question about how to set them up is answered on the link that I gave you above.
And here is another interesting link that I ‘perchance’ just found that may interest you:
Trading Strategy Based on Pivot Points Analysis - MQL4 Articles
Regards,
Dale
[QUOTE=dpaterso;77696]Would you like us to trade for you as well??? (Only kidding)!!!
Your question about how to set them up is answered on the link that I gave you above.
And here is another interesting link that I ‘perchance’ just found that may interest you:
Trading Strategy Based on Pivot Points Analysis - MQL4 Articles
Regards,
Dale
Thanks Dale. I’ll try and do the trading part myself!
They need to be inserted in MetaEditor, top of the chart between
new order & expert advisor.
I would STRONGLY suggest that whatever pivot point indicator you find and use: you CROSS CHECK the value
Thanks Dale this is the point I am trying to make, if you
calculate them yourself then you can check the figures
rather than just blindly putting points on a chart.
Hold it (before you just ‘run off into the sunset’):
Please DO read that article that I posted above.
I just did and it’s probably one of the best and most concise articles that I EVERY found with regard to pivot points PARTICULARLY the part about the different times!!!
Long story short: it’s OK if you’re trading the FULL Dow for instance i.e. it opens at a certain time (New York) and closes at a certain time (New York) and no matter where in the world you are you’re looking at the same price chart so ‘all the pivots are created equal’ as it were. But with FOREX (and I’m assuming that this is what you’re going trade) the closing times are NOT ‘uniform’ but rather are ‘broker dependant’. There is a ‘fix’ for this detailed in that article.
Regards,
Dale
Hold it (before you just ‘run off into the sunset’):
I would say forex2020 you have enough “food for thought” to
last until after lunch time. Next topic, Elliott wave 
Hey daydreamer65:
If I’m not mistaken you’ve just been ‘promoted’ (1 000 posts)???
Well done!!!
Regards,
Dale
