VR Pivot – defining key levels

Review

Points of Pivot are considered leading indicators, as they show levels that have not yet worked out, levels for the current period. The best period for calculating pivot points is a daily period.

Pivot points can be used in several ways:

The first way is to use dots as support and resistance levels. abrupt movements. Pivot points are best used as support and resistance levels. During such periods, professional traders set stop loss outside the breakpoints and take profit levels between the breakpoints.

The second way is to use control points as breakout levels. In situations where there is increased volatility on a financial instrument, it is recommended to use control points as breakout levels. If the price broke through the level and fixed, that is, the current period closed with a breakout of the control point, it is recommended to use this moment to enter the market in the direction of the breakout of the control point.

Third way - breakpoint levels can be used in conjunction with support and resistance levels set by the trader. If the support and resistance levels set by the trader are close to the Pivot control points, at best, it will use the Pivot control points and calculate the stop loss and take profit levels relative to the Pivot levels.

Fourth way - if you trade position networks and you have several positions of the same type in the market. To open the following positions, the best option would be to use Pivot levels. In situations where you top up along the trend, the Pivot levels breakout points will be the best entries in the direction of the trend. And in situations when you top up against the trend, Pivot points will be the best places to open a position to cut losses.

Let's look at the reversal level image:

The picture shows a highly volatile instrument, and we can clearly see how the price moved and broke through almost all points, except for the farthest and strongest R3 level. After the price failed to gain a foothold, breaking through the R3 level, the price reversed and went down. When trying again, the price failed to even break through the R2 level.

Special features of the VR Pivot indicator

• The indicator supports the calculation of control points using several formulas:
• Classic Pivot - classic pivot point formula;
• DeMark Pivot - DeMark's formula;
• Woodie Pivot - Woodie's formula;
• Camarilla Pivot - Camarilla formula;
• Fibonacci Pivot - Fibonacci formula;
• The program can work together with your indicators and Expert Advisors on the same chart;
• It is possible to analyze historical data
• The program is written so that it displays information for a period set by the user, and does not litter the chart with historical data.
• The indicator can calculate losses for any financial instruments (Forex, Crypto, CFD, Futures, Metals)
• A trader can choose any timeframes for calculation
• Suitable for both beginner and professional trader;
• Not a large number of settings, help to selectively do synchronization;
• Works on any financial instruments (Forex, CFD, Crypto, Metalls, Futures);
• Easy to installation and set up, program comes with text and video instructions;

• For the market Trading-Go
• Supplied as archive containing versions for MetaTrader 4 and MetaTrader 5;
• When paying in the Trading-Go market (on this page), the second version is free;
• Can be used without payment on real accounts, free. Instructions;
• It is possible to use the indicator on demo accounts without payment, without restrictions;
• Works in the strategy tester;
• Installation instructions;

• For the Mql5 market. com
• Available for payment in the Mql5 market. com, each version is paid separately for MetaTrader 4 and MetaTrader 5;
• On demo, training and real accounts it works only after payment;
• Works in the strategy tester;
• Installation instructions;

Algorithm of operation

Formulas for calculating Pivot levels

Over time, several formulas for key pivot points have been developed. Each formula is unique and interesting in its own way. In almost every formula, open (Open), close (Close), high (High) and low (Low) of the previous period.

Resistance R, Support S.

• R1, R2, R3 – resistance levels
• S1, S2, S3 - support levels

Classic pivot:

• Pivot = (High + Low + Close) / 3 where
• R1 = 2Pivot - Low;
• S1 = 2Pivot - High;
• R2 = Pivot + (R1 - S1);
• S2 = Pivot - (R1 - S1);
• R3 = High + 2 × (Pivot – Low);
• S3 = Low - 2 × (High - Pivot) where:

DeMark pivot formula:

• IF (Close < Open>Pivot = High + 2 × Low + Close,
• IF (Close > Open), THEN Pivot = 2 × High + Low + Close,
• IF (Close = Open), THEN Pivot = High + Low + 2 × Close.
• S1 = Pivot / 2 - Low
• R1 = Pivot / 2 + High

Woodie pivot:

• Pivot = (High + Low + 2 × Close) / 4
• R1 = 2 × Pivot − Low
• R2 = Pivot + High − Low
• S1 = 2 × Pivot − High
• S2 = Pivot − High + Low

Camarilla pivot formula:

• R4 = (High − Low) × 1.1 / 2 + Close
• R3 = (High − Low) × 1.1 / 4 + Close
• R2 = (High − Low) × 1.1 / 6 + Close
• R1 = (High − Low) × 1.1 / 12 + Close
• S1 = Close − (High − Low) × 1.1 / 12
• S2 = Close − (High − Low) × 1.1 / 6
• S3 = Close − (High − Low) × 1.1 / 4
• S4 = Close − (High − Low) × 1.1 / 2

Fibonacci pivot formula:

• Pivot = (High + Low + Close) / 3
• R1 = Pivot + (.382 * (High – Low))
• R2 = Pivot + (.618 * (High – Low))
• R3 = Pivot + (1 * (High – Low))
• S3 = Pivot - (1 * (High - Low))
• S2 = Pivot - (0.618 * (High - Low))
• S1 = Pivot - (.382 * (High - Low))

Recommendations

• Use the indicator to calculate control levels for a daily period, the longer the period, the more accurate and better the control points.
• Use pivot levels in conjunction with your trading strategy, don't neglect breakpoints.
• Analyze historical data using the VR Pivot indicator to help you understand the behavior of a financial instrument.
• Take screenshots of the chart, this will help you understand the price movement at the end of the working day.
• Avoid level trading when important economic news is released.

Settings

[-] === Main Settings === [-] - Main settings;

• Type Pivot - Pivot type of levels;
• Classic Pivot - Classic Pivot points;
• DeMark Pivot - DeMark Pivot Points;
• Woodie Pivot - Woodie Pivot points;
• Camarilla Pivot - Camarilla Pivot Point;
• Fibonacci Pivot - Fibonacci Pivot points;
• Length of lines - Length of levels in bars;
• Show Price - Show price at levels;
• No text - Off;
• Text- Text;
• Label - Price icon;
• Time Frame - Calculation period;
• Prefix - Prefix;

[-] === Level Pivot Point === [-] - Levels Pivot Point;

• PP Color - PP Color;
• PP Width - PP Thickness;
• PP Style - PP Style;

[-] === Level R1 === [-] - Level R1;

• R1 Color - R1 Color;
• R1 Width - R1 Thickness;
• R1 Style - R1 Style;

[-] === Level R2 === [-] - Level R2;

• R2 Color - R2 Color;
• R2 Width - R2 Thickness;
• R2 Style - R2 Style;

[-] === Level R3 === [-] - Level R3;

• R3 Color - R3 Color;
• R3 Width - R3 Thickness;
• R3 Style - R3 Style;

[-] === Level R4 === [-] - Level R4;

• R4 Color - R4 Color;
• R4 Width - R4 Thickness;
• R4 Style - R4 Style;

[-] === Level S1 === [-] - Level S1;

• S1 Color - S1 Color;
• S1 Width - S1 Thickness;
• S1 Style - S1 Style;

[-] === Level S2 === [-] - Level S2;

• S2 Color - S2 Color;
• S2 Width - S2 Thickness;
• S2 Style - S2 Style;

[-] === Level S3 === [-] - Level S3;

• S3 Color - S3 Color;
• S3 Width - S3 Thickness;
• S3 Style - S3 Style;

[-] === Level S4 === [-] - Level S4;

• S4 Color - S4 Color;
• S4 Width - S4 Thickness;
• S4 Style - S4 Style;

Video

Updates

FAQ