The Floating Pivot Point Forex Signals MT4 indicator is based on a series of floating pivot points that help you to find great entry points in the currency market.
The indicator is composed of 3 pivot point signal lines that appear on the main trading chart.
Trading with the floating Pivot Point indicator is very simple and straightforward.
It can be used as a standalone signals indicator or combined together with a price action Forex strategy.
Just load the Floating Pivot Point Forex Signals indicator onto the Metatrader 4 chart and start trading with it in minutes.
Key Takeaways
- A bullish trend occurs when price is trading above the yellow floating Pivot Point line.
- A bearish trend occurs when price is trading below the yellow floating Pivot Point line.
- Fits all currency pairs and time frames of your preference.
- Price action indicator, no lag.
- Works for scalping, day trading and swing trading.
Feel free to explore the Floating Pivot Point Forex Signals indicator’s different parameters and settings to create your own personalized indicator setup.
Download This MT4 Forex Indicator Free
Download the “float-pivot-indicator.ex4” Metatrader 4 indicator
Indicator Example Chart (USD/JPY H1 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Floating Pivot Point Forex Signals MT4 Indicator
Buy Signal: Open a buy trade when price closes above the red upper Floating Pivot Point signal line (see chart).
Place your stop loss below the yellow Pivot Point line, or use your own favorite stop loss strategy.
Exit the buy trade for a fixed profit target, for example, close the trade for +35 pips profit on the M30 chart.
Alternatively, exit the buy trade for a reward/risk ratio of 1.5 or better.
Sell Signal: Open a sell trade when price closes below the blue lower Floating Pivot Point signal line.
Place your stop loss above the yellow Pivot Point line, or use your own favorite stop loss strategy.
Exit the sell trade for a fixed profit target, for example, close the trade for +20 pips profit on the M5 chart.
Alternatively, exit the sell trade for a reward/risk ratio of 1.5 or better.
Download This Forex Indicator Now
Download the “float-pivot-indicator.ex4” MT4 indicator
Input Parameters
I period, colors, width, style.
More Info About This Indicator
Recommended Currency Pairs: any
Trading Platform: MT4
Time Frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: pivot point
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.
Conclusion
The Floating Pivot Point Forex Signals MT4 indicator is worth trying it out. It’s a pure price action based trading indicator.
Please keep in mind that its performance will vary depending on market conditions and other factors.
Use on a demo account first to make yourself familiar with this trading tool!