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Though daily pivot is the most common pivot used, ‘Daily’ is not the only timeframe used for pivot trading. Many traders use pivot lines also in lower timeframe such as 4 hour pivot, 1 hour pivot and 15 minute pivot etc. However manually calculating pivot for a timeframe lower than 4 hour is quite tedious, mostly [...]

Though daily pivot is the most common pivot used, ‘Daily’ is not the only timeframe used for pivot trading. Many traders use pivot lines also in lower timeframe such as 4 hour pivot, 1 hour pivot and 15 minute pivot etc.

However manually calculating pivot for a timeframe lower than 4 hour is quite tedious, mostly in case of trading volatile pairs like Gbp/Usd or Gbp/Jpy. I occasionally use 1 hour pivot when trading Gbp/Jpy and realize the difficulty ever since.

Luckily, few days ago Okan Erkan contacted me and sent me his pivot lines indicator. The indicator works by automatically drawing pivot, support and resistance lines on the chart.

According to Okan, the indicator uses the same pivot formula as the one used by pipholic pivot calculator . You can use them in any chart’s timeframe. Of course it draws different pivot for different chart’s timeframe.

Okan Erkan is a MQL coder at UzmanForex, a Turkish partner-company of FXCM, and he has been writing many MQL codes for UzmanForex’s trading clients. In case you don’t know, MQL is a set of programming language or a code base for any metatrader’s indicator and expert advisors.

Starting from now you can get help with any MQL related (metatrader indicators, mt4 expert advisors) problem from Okan in the forum. You can send him a private messages or write in Metatrader and Trading Platform Forum.

Use the following link to download the pivot lines indicator (.zip)

Pivot Line Indicator

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Installation:

1. Download and Unzip the Ex4 file
2. Copy theUF_Pivot_Lines.ex4 into your Metatrader indicators directory (Mt4 -> experts ->indicators)
3. Start your Mt4, Open the chart window, apply the indicator from ‘Insert’ menu (Insert -> indicators -> custom -> UF_Pivot_Lines)
4. that’s all.

Pivot Lines Indicator for Any Chart’s Timeframe

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