Golden Pivot Indicator - Comprehensive Guide

🏆 Motto:

"Master the Markets with Golden Pivots – Your Key to Precision Trading Across All Timeframes!"

📌 Overview

The Golden Pivot indicator is a MetaTrader 4 (MT4) tool that automatically calculates and plots pivot points and support/resistance levels for daily, weekly, and monthly timeframes. Developed by R.KH 1001 and available on RoboMQL, this powerful indicator helps traders identify critical price levels for strategic entries, exits, and risk management.

🔧 How It Works

The indicator calculates pivot points using the classic formula:

text

Pivot = (High + Low + Close)/3  

R1 = (2*Pivot) - Low  

S1 = (2*Pivot) - High  

R2 = Pivot + (R1 - S1)  

S2 = Pivot - (R1 - S1)  

R3 = High + 2*(Pivot - Low)  

S3 = Low - 2*(High - Pivot)  

Additionally, it plots mid-levels between these pivots for finer price action analysis.

⚙️ Indicator Settings

Core Features Configuration

ParameterDescriptionDefault

Use_Sunday_DataIncludes Sunday data in weekly calculationsTrue

Daily/Weekly/MonthlyToggles visibility of respective pivotsTrue

Daily_SR_LevelsShows S1-S3/R1-R3 levelsTrue

Daily_Mid_LevelsShows intermediate levels (DM1-DM6)True

Color Customization

Pivot Lines: Gold (customizable)

Support Levels: Gold

Resistance Levels: Gold

Mid-Levels: Gold

📊 Multi-Timeframe Analysis

1. Daily Pivots

Calculated from previous day's OHLC

Includes 3 support (S1-S3) and 3 resistance (R1-R3) levels

6 mid-levels for intraday precision

2. Weekly Pivots

Derived from previous week's price range

Ideal for swing trading strategies

3. Monthly Pivots

Based on previous month's price action

Crucial for long-term position trading

🎨 Visual Features

Clean Dashboard: Organized by timeframe with clear labels

Line Styles:

Pivot: DASHED

S/R Levels: DASHDOTDOT

Mid-Levels: DOTTED

Dynamic Updates: Auto-refreshes at each new period

📈 Practical Applications

Intraday Trading: Use daily pivots as reversal/breakout points

Swing Trading: Weekly pivots identify key trend levels

Position Trading: Monthly levels provide macro context

Risk Management: Place stops beyond pivot clusters

Confluence Trading: Combine with Fibonacci/MA for high-probability setups

🚀 Smart Features

Auto-Ignores Sunday Data (configurable)

Precision Mid-Levels for nuanced price action analysis

Multi-Timeframe Integration in one view

Customizable Visuals to match any trading style

⚡ Pro Tips

Trade bounces off pivot clusters with RSI/MACD confirmation

Watch for price compression between mid-levels

Monthly pivots often act as yearly turning points

Combine weekly S1/R1 with 50-EMA for trend continuation plays

👨‍💻 Developer & Source

Developer: R.KH 1001

Website: RoboMQL

🌟 Why Traders Love It

"The Golden Pivot eliminates manual calculations while providing institutional-grade levels across all timeframes. Its clean visualization helps me spot high-probability trades within seconds." - Professional Forex Trader

Trade Smarter, Not Harder – Let Golden Pivots Light Your Way! 💡