The auto pivot indicator uses the oldest levels in the business. Yesterday’s high, low and close produce a central pivot. Doubling that and subtracting an extreme gives the first resistance and the first support.
This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.
| Platforms | MT4 (.ex4) + MT5 (.ex5) |
|---|---|
| Chart window | Main price chart |
| Plots | 5: PP, R1, S1, Buy, Sell |
| Alerts | popup, push notification, email, sound |
| Inputs | 7 |
What the Auto Pivot Indicator draws on the chart
A gold `PP` line marks the central pivot.
A tomato `R1` line sits above it and a sea green `S1` below.
`Buy` uses arrow 233 where price rejects the support.
`Sell` uses arrow 234 at the resistance.
- PP: line, gold
- R1: line, tomato
- S1: line, medium sea green
- Buy: arrow, lime, width 4, arrow code 233
- Sell: arrow, red, width 4, arrow code 234
How the Auto Pivot Indicator calculates its values
Three prices, one formula
Yesterday’s high plus low plus close, divided by three, gives the pivot. That single number is the reference every floor trader has used since long before screens existed.
The outer pair mirrors it
Doubling the pivot and subtracting yesterday’s low gives the first resistance. Subtracting the high instead gives the first support. Both sit the same distance out in opposite directions.
A rejection needs three conditions
A buy needs the bar to trade down to the support, close back above it, and close above its own open. All three on one bar, which keeps the marks scarce.
How to read the signals
The levels hold all day and then jump at the daily boundary.
A mark says price touched a level and closed back inside.
Marks sit `ArrowOffsetPoints` `35` points from the bar.
Only the first pair ships here, so there is no R2 or S2.
Alert channels in this build: popup, push notification, email and sound, one message per closed bar.
`EnableAlerts` covers the routes and starts true with `EnablePopup`. Turn on `EnablePushNotify` for a phone, `EnableEmail` for mail, or `EnableSound` to sound `SoundFile`. Those three arrive off. Rejections report once a bar.
Every Auto Pivot Indicator input
Display settings
| Setting | What it does | Default |
|---|---|---|
ArrowOffsetPoints |
Points between a mark and the bar, default `35`. | 35 |
Alert settings
| Setting | What it does | Default |
|---|---|---|
EnableAlerts |
Master switch over the rejection alerts, default `true`. | on |
EnablePopup |
Terminal message on a rejection, default `true`. | on |
EnablePushNotify |
Phone message on a rejection, default `false`. | off |
EnableEmail |
Mail on a rejection, default `false`. | off |
EnableSound |
Clip on a rejection, default `false`. | off |
SoundFile |
Which clip plays, default `”alert.wav”`. | alert.wav |
Settings that fit your chart
Daily pivots belong on intraday charts. EURUSD H1 is the reference chart, where the three levels sit within reach through the session. On M5 they are still useful. On daily bars each level lasts one candle.
When the Auto Pivot Indicator fails
Only one input exists, so there is almost nothing to tune.
A level matters because traders watch it, which nothing here verifies.
The three-condition rejection test misses a level that holds without a clean close.
Copy the compiled Auto Pivot Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.
Related on forexmt4systems.com: Pivot Point Strategy.
Background reading on the method behind the Auto Pivot Indicator: Pivot point (technical analysis) on Wikipedia, Pivot Points at StockCharts ChartSchool.
Download the Auto Pivot Indicator for MT4 and MT5
The zip holds the compiled Auto Pivot Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.
Download this indicator free
Enter your email and the file is yours. You also get the full MT4 and MT5 library.
FAQ
How is the PP level calculated?
Yesterday’s high plus low plus close, divided by three. That is the classic floor pivot, unchanged since traders worked it out by hand before the session opened.
Why does R1 sit where it does?
It is twice the pivot minus yesterday’s low. That construction places it the same distance above the pivot as yesterday’s low sat below it, which is what makes the pair symmetrical.
What does a Buy mark actually require?
Three things on one bar. The low must reach the support, the close must finish above it, and the close must also be above the open. That combination is a rejection rather than a touch.
Why is ArrowOffsetPoints the only setting?
Because the levels come from a fixed formula with no parameters. There is nothing to tune in a floor pivot, which is part of why so many traders watch the same numbers.
Are results guaranteed?
No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Auto Pivot Indicator as one input. Always backtest before trading live.
Category: this is part of our Support and Resistance collection. Also, still, hence, plainly, truly, browse more Support and Resistance for MetaTrader, or explore every MT4 indicator and MT5 indicator on the site.
External references
- Learn more about the underlying method in Pivot point (technical analysis) on Wikipedia.
- For wider market background, see Pivot Points at StockCharts ChartSchool.
About the author
Written by Dominic Walsh, a Forex trader and MT4/MT5 indicator, Expert Advisor and script developer. Every tool on forexmt4systems.com is tested on live charts before release and ships with ready-to-use compiled MT4 (.ex4) and MT5 (.ex5) files. Learn more about the trader and developer behind this site.
How we build, test and correct every tool: Editorial & Testing Policy. Trading carries risk; see the disclaimer.