Pivot Alert Indicator
The Pivot Alert MetaTrader indicator is a custom indicator which automatically calculates the pivot zones and displays them on your chart. This is a useful technical indicator for traders who are looking to reverse trends or break out of a trend.
The indicator calculates pivot points for the price of an investment and alerts users if the price crosses or reaches any of these zones. The pivot levels, labeled S/R 1, 2 and 3, act as potential reversal areas where the price is likely to react.
Calculating pivot points for the price is done using Fibonacci, Woodie and CPR methods, as well as Classical and Camarilla. The price’s previous highs and lows are used to calculate the pivot points.
The indicator can also be used to trade in different styles, such as swing trading, day/intraday trading, or scalping. The indicator is suitable for all traders, including novices, intermediates, and experts.
Pivot alert indicator: How to trade with it
Pivot Alert Indicator
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