Pivot Points (High/Low)
Description
Pivot Points (High/Low), also known as Bar Count Reversals, are used to anticipate potential price reversals. Pivot Point Highs are determined by the number of bars with lower highs on either side of a Pivot Point High. Pivot Point Lows are determined by the number of bars with higher lows on either side of a Pivot Point Low.
For example, a Pivot Point High, with a period of 5, requires a minimum of 11 bars to be considered a valid Pivot Point. A minimum of 5 bars before and after the Pivot Point High all have to have lower highs.
A Pivot Point Low, with a period of 5, requires a minimum of 5 bars before and after the Pivot Point Low to each have higher lows in order to be a valid Pivot Point.
How this indicator works
- The longer the trend (the higher the period selected) before and after the Pivot Point, the more significant the Pivot Point.
- Pivot Points can be used to help determine where to draw trendlines in order to visualize price patterns.
Calculation
- Pivot Point Highs are determined by the number of bars with lower highs on either side of a Pivot Point High.
- Pivot Point Lows are determined by the number of bars with higher lows on either side of a Pivot Point Low.
Related Indicators
Pivots Points are price levels chartists can use to determine intraday support and resistance levels.
Technical analysis focuses on market action — specifically, volume and price. Technical analysis is only one approach to analyzing stocks. When considering which stocks to buy or sell, you should use the approach that you’re most comfortable with. As with all your investments, you must make your own determination as to whether an investment in any particular security or securities is right for you based on your investment objectives, risk tolerance, and financial situation. Past performance is no guarantee of future results.
Pivot high – Pivot low MT4
Does anyone know where I can find a simple MT4 indicator to paint pivot high and pivot low? I am not talking about pivot «levels», but when HigherHigh and Higher Low bar continues to lower high-lower low bar — becoming a pivot high.
High/Low indicator for MT4
Can anyone share a daily/weekly/monthly/yearly high low indicator for MT4? Been searching for long now. Something that will draw horizontal lines on these points.
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- May 16, 2007 9:56pm May 16, 2007 9:56pm
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- Oct 4, 2008 8:26am Oct 4, 2008 8:26am
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- Oct 4, 2008 9:02am Oct 4, 2008 9:02am
belekas, please double-check amenlo9’s daily monthly weekly hilow. It should clearly show what you want.
However, when you mentioned simple horizontal lines, you may want to use them for previous comparison.
I have coded something for you.
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- Oct 6, 2008 2:53am Oct 6, 2008 2:53am
belekas, please double-check amenlo9’s daily monthly weekly hilow. It should clearly show what you want.
However, when you mentioned simple horizontal lines, you may want to use them for previous comparison.
I have coded something for you.
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- Oct 6, 2008 7:12am Oct 6, 2008 7:12am
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- Oct 6, 2008 12:00pm Oct 6, 2008 12:00pm
sometimes i am still using this simple one .
It is still working .
Best eishes :
KEYSER S�ZE
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- Oct 6, 2008 3:34pm Oct 6, 2008 3:34pm
Found one indicator called : ###Dayly-Weekly-Monthly Ji-Low that looks like customised version of MTF_HI_LOW.mq4 Now just need that Yearly Hi-Low coded in.
Still, if anyone has something really nice please post.
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- Apr 7, 2009 1:57pm Apr 7, 2009 1:57pm
belekas, please double-check amenlo9’s daily monthly weekly hilow. It should clearly show what you want.
However, when you mentioned simple horizontal lines, you may want to use them for previous comparison.
I have coded something for you.
Does anyone have an indicator that shows the previous daily, weekly and monthly high and low in simple lines like this one [WK MN DY LINES]?
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- Jul 30, 2009 3:23am Jul 30, 2009 3:23am
Does anyone have an indicator that shows the previous daily, weekly and monthly high and low in simple lines like this one [WK MN DY LINES]?
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- Jul 15, 2020 8:39pm Jul 15, 2020 8:39pm
belekas, please double-check amenlo9’s daily monthly weekly hilow. It should clearly show what you want.
However, when you mentioned simple horizontal lines, you may want to use them for previous comparison.
I have coded something for you.
Hi, I know I’m posting almost 3 years later, but can you modify this to show the lines but for the previous day/week/month? Otherwise it’s an awesome indicator. Simple and clean.
EDIT: It’s open source, so if any other coders wanna take a crack at it feel free.
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- Jul 3, 2020 4:31am Jul 3, 2020 4:31am
Hi, can you add a horly time shift so it will work with every broker >
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- May 29, 2020 8:34pm May 29, 2020 8:34pm
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- Edited May 31, 2020 10:54am May 30, 2020 2:50pm | Edited May 31, 2020 10:54am
Hi all, I am a Spanish trader. First, I apologize for my bad English. I’ll explain what I need.
I trade DAX. When start the day, we usually start with Gap, so previous day’s closing and opening of this day are different
So, the indicator that I need:
– Two horizontal lines (opening day and previous day close). Opening (time 8:00). Close (time: 21:45). [In chart: red and green lines]. Sometimes it will close above the opening and other times it will be backwards. [The line is above: green. The line that is below: red]
