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!! DailyPivot.mq4
Broker - Broker Online : Metatrader MT4 Platform
Formula
Pivot Point = (High + Low + Close ) / 3
with
high: Highest
low: lowest
Close: Closing price
Interpretation Signals And rules of Trading
the pivot points are strong psychological levels to:
. Expect the magnitude of price fluctuations
. Show areas where prices may stop or rebound
. Show turning points in trend
. Level blue pivot point - the price is above the daily pivot point uptrend
. The point pivot orange - The price is below the daily pivot point, bearish trend
- Buy signal
. The price is above the pivot point (support level) - Trend bullish
. The price key support level in an uptrend - Buy
. When a resistance level is broken upwards, it becomes a new support level
- sell signal
. The price is below the pivot point (resistance level) - Trend bearish
. The price touches a level of resistance in a bearish trend - Sell
. When a support level is broken down, it becomes a new level of resistance
Learn more about the rules and trading signals:
Bourse - Trader Daily Pivot Points
Exchange - Trader Pivot Point Universal
Graphic Exchange - Trading Analysis
Trade Example
Exchange - Trading forex currency
symbol EUR / USD
Time Frame: 1 hour - H1
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