Looking for this tool

Beginner Questions
1

being a newbie, trying to acquire some important tools for my trading system, i will like somebody to help me give me a link on where to get a pivot calculator that can be able to calculate m1/m3 and m2/m4 days. i know that fxsolutions have this tool in their charting platform, but it can’t be exported.so i need a tool that will help me implement this using metatrader 4 platform.

2

Not sure what you are asking for. If you want the (most widely used) formulas for calculating pivot points, here they are:

The Pivot Point plus major support and resistance levels:

    P  = (H + L + C) / 3     
                                         
    S1 = 2P - H

    S2 = P + L - H

    S3 = 2P + L - 2H        
                                            
    R1 = 2P - L                        
                                            
    R2 = P + H - L

    R3 = 2P + H - 2L

Intermediate support and resistance levels:

    S0.5 = (P + S1) / 2

    S1.5 = (S1 + S2) / 2

    S2.5 = (S2 + S3) / 2

    R0.5 = (P + R1) / 2

    R1.5 = (R1 + R2) / 2

    R2.5 = (R2 + R3) / 2

If you want websites which do the calculations for you, here are three:

    [Forex Pivot Point Calculator](http://www.fxstreet.com/forex-tools/pivot-point-calculator/)

This site uses the formulas shown above; they appear to be different, but a little algebra will confirm that they are the same.
You have to type in the H, L and C for the time frame you are using, and the site will do the calculations for you, and display the results.

    http://www.mypivots.com/Education/tools/pivot-calculator/

This site offers you 8 different ways to calculate P; two ways each to calculate S1, S2, R1 and R2; three ways to calculate S3 and R3; and two ways to calculate S4 and R4.

    [Forex Pivot points - Mataf.net](http://www.mataf.net/en/forex/trading/pivot-points/standard/)

This site has a calculator very similar to fxstreet, above, but with a cool added feature: you enter your time zone, and it will automatically calculate the pivot points, support, and resistance, for 21 currrency pairs. It appears that these calculations are based on a 24-hour time frame from midnight to midnight (local time); but, the site doesn’t spell this out.

Clint

3

try this

You need to unzip the file into your metatrader > experts > indicators

folder

once done close metatrader and reopen
then it should be in metatrader under indicators -> custom

N

Pivots Daily.zip (2.61 KB)

4

i’m very gratefull clint, the link to pivot calculator located at fxstreet you gave me have solved my problem. i wish you more pips ahead.

5

hi n aftab,
i’ve seen the metaquotes in the zip file you sent and it seems to contain what i’m looking for, once i did as you’ve said i’ll get back to you.

6

please n aftab, can you tell me how to unzip this file into my metatrader platform.