MT4 Pivot Point Indicators
The pivot point is a technical indicator used for financial trading. It tells where the overall trend is heading and can also be used to predict changes. For example, the pivot point is calculated by taking an average of the high and low and adding it to yesterday’s closing price.
If a market has a high volume of trading occurring above the pivot point, it’s thought to show that bullish sentiment is ongoing. If there is lower volume of trading below the pivot point, this would generally indicate that bullish sentiment is slowing down.
The pivot point is the basis on which all indicator calculations are made, but it also includes other levels of support and resistance that are projected based on the pivot point. These levels help traders identify where the price could see some kind of support or resistance.
The pivot point is the basis for the indicator, but some other levels based on it are also important. Traders can use these levels to see where the price could move next.
It can also be useful that if the price moves through these levels, it indicates that the market is trending that way.
Here is list of Pivot Support Resistance Indicators for meta trader 4 (MQL4).