ACD Pivot Points Forex Indicator For Metatrader 4
The ACD Pivot Points technical indicator for MT4 draws the current day’s and previous day’s Pivot Point levels on the chart.
Trading currency pairs with Pivot Points are easy:
- Price above the Pivot Point represents a bullish trend. Traders look to buy the currency pair.
- Price below the Pivot Point represents a bearish trend. Traders look to sell the currency pair.
It’s recommended to confirm Pivot Point based trades with additional indicators and/or with price action strategies to increase the odds of success.
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ACD Pivot Points Indicator Chart
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
You can apply the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Triggers With ACD Pivot Points Technical Analysis Chart Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Initiate a long trade when price rises above the Pivot Point. The trend is now considered bullish.
Place a stop loss below previous swing low support, or use your own stop loss strategy.
Aim for reward/risk 1.5:1 ratio or better, or close the trade for a fixed profit target, for example 40 pips on the 30-minute chart.
Sell Trigger: Initiate a short trade when price falls below the Pivot Point. The trend is now considered bearish.
Place a stop loss above resistance, or use your own stop loss strategy.
Aim for reward/risk 1.5:1 ratio or better, or close the trade for a fixed profit target, for example 60 pips on the 1-hour trading chart.
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Pivot range start, Pivot range end, display Pivot Point, display previous high low, display MA’s, colors, width, style.
The indicator can be used as a stand-alone signals indicator.
It can also be combined with:
- Trading oscillators (MACD, Stochastic, RSI,…)
- Trend indicators (Moving Average, Bollinger Bands, ADMI,…)
- Price action methods and techniques
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Pivot Point
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.