Introduction:
Auto pivot indicator for mt4 is an indicator that is built to display the pivot points of multiple timeframes at the same time. It draws the pivot points of Daily, Weekly, and monthly time frames.
Traders who use pivot points in their trading strategies and analysis will find this indicator very helpful. The auto pivot indicator for mt4 is straightforward to set up and, if available, to download for free.
Auto pivot indicator mt4 Working:
Once you have applied the indicator to your mt4 charts and hit “ok,” the indicator will automatically plot the pivot levels of timeframes you have enabled in the settings.
This indicator is programmed to generate the pivot levels based on past data and display all the enabled pivot points on the mt4 charts.
To apply the indicator, you just need to copy the auto pivot mt4 indicator source file into the indicators folder of the mt4 data directory. After that, you can just drag the indicator form indicators list onto the charts to start plotting.
Auto pivot indicator mt4 Settings:
In the settings of this indicator, you can change which pivot points you want to show and which ones you don’t want to show. You can do this by selecting true or false for the respective timeframe. You can also change the colour or the levels from the colours tab in the indicator settings.
Who is this indicator for?
Auto pivot indicator is best suited for traders who trade based on pivot points. Its easy application allows even beginners to start trading based on this indicator from the first day.
Also, more seasoned traders can use it in their complex strategies to make them more effective.
Conclusion:
There is no doubt that the auto pivot indicator is excellent and effective. But you should keep in mind that you should always trade using risk management. Also, you can use it alongside the Elliott Wave Prophet indicator to make a more robust trading strategy.
You can get indicator mt4 for free download at the link below