Free Forex Indicators (MT4), Trend Following Indicators

Pivot Point Lines Indicator

The Pivot Point Lines Indicator outlines the critical price levels guiding traders through trade levels, stop-loss limits, and take-profit zones. It plots the automatic pivot lines in all timeframes of MT4 and suits all types of forex, stocks, and crypto trading charts.

This indicator offers excellent technical assistance to novice traders. It doesn’t require manually drawing any extra support/resistance line, keeping you worrying less about daily price level analysis.

Pivot Point Lines Indicator Overview

Pivot Point Lines Indicator applies pivot lines with different styles so that you can distinguish between long-term and intraday S/R levels. It also shows period separators to compare last day’s price waves with present market conditions.

Pivot Point Lines Indicator overview

If you’re good with candlestick patterns, you’ll be able to anticipate highly potential price-action-based trading signals at the key market levels.

Pivot Point Lines Indicator Explanation

The dashed lines at the top and bottom of the chart represent the ultimate pivot levels. These lines show the long-term support/resistance levels based on daily, weekly, and monthly timeframes. On the other hand, the horizontal levels inside the highest pivot boundaries show the intraday or short-term S/R of the price.

Pivot Point Lines Indicator explanation

The buy/sell signal depends on how the price interacts while touching the pivot lines. For instance, the price repeatedly rejecting to break above a pivot resistance implies a possible sell opportunity. In the same way, when the price refuses to break below pivot support, it is time for planning long entries and exit shorts.

Pivot Point Lines Indicator: Buy Conditions

Pivot Point Lines Indicator buy signal
  • A bullish pin bar or inside bar break takes place right above the pivot support line.
  • Place SL below the immediate support level.
  • Exit long whenever the price hits the ultimate pivot resistance.

Also read: Exness Review – Is it The Best Forex Broker?

Pivot Point Lines Indicator: Sell Conditions

Pivot Point Lines Indicator sell signal
  • A bearish pin bar or inside bar break occurs right below the pivot resistance level.
  • Set the SL above the current support line.
  • Exit short whenever the price hits ultimate pivot support.
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I have been actively trading the financial markets since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund that has Rs. 1 billion in assets under management. At my leisure, I love attending live music, traveling, and partying with friends.

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Trend Following System's goal is to share as many Forex trading systems, strategies as possible to the retail traders so that you can make real money.

Risk Warning: Trading in the forex market is very risky. Thus, it is may not be for everyone. A highly leveraged position can work against the trader when the trade does not work as expected. Trading in the forex market can cause to lose a significant portion of the capital or all of the capital. It is crucial to learn about the trading and gain enough experience in the demo account before trading with real money. The trading strategies published on this website do not guarantee profit as the market is dynamic and unpredictable. The past performance of a strategy is not the indicative of future performance. Trend Following System will not accept any kind of liability or damage caused by trading the strategies published on this website.