MTF Pivot Indicator for MT4 and MT5

Written by Dominic Walsh · Published 16 Jun 2026 · Last updated 24 Sep 2026

Floor pivots from a higher timeframe give intraday traders fixed reference levels for the session. The MTF pivot indicator takes the previous daily bar by default, draws the central pivot with three resistance and three support levels, and marks candles that test one of them and close back away.

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	2: MTF Pivot BUY, MTF Pivot SELL
Alerts	popup, push notification, email, sound
Inputs	14

What gets drawn, and where

Seven labelled lines and two marks on price.

`ColorPP` `clrYellow` draws the central pivot.

`ColorR` `clrTomato` draws R1 to R3.

`ColorS` `clrDodgerBlue` draws S1 to S3.

`MTF Pivot BUY` prints lime with arrow 233.

`MTF Pivot SELL` prints red with arrow 234.

• MTF Pivot BUY: arrow, lime, width 2, arrow code 233
• MTF Pivot SELL: arrow, red, width 2, arrow code 234

The steps it takes

Source bar

`PivotTimeframe` `PERIOD_D1` supplies the previous bar’s high, low and close. Switch it to weekly for swing levels.

Seven levels

The pivot is their average. R1 and S1 mirror it across the low and high; R2, S2, R3 and S3 add the range again. `ShowR3S3` controls the outer pair.

Bounces

A candle that comes within `BounceTolerancePts` `80` points of PP or a support and closes back above it prints a buy. Resistance works the other way.

Reading the result

Yellow is the balance level for the day.

Tomato levels sit above, blue below.

Marks show tests that held on the close.

Busy days can print several marks.

`ExtendRight` runs the lines to the edge.

Levels reset when the source bar closes.

Alert channels in this build: popup, push notification, email and sound, one message per closed bar.

Level bounces report once per closed bar. `EnableAlerts` is the master switch; the popup and the sound playing `SoundFile` start on, while mobile and email stay off.

Every MTF Pivot Indicator input

Core settings

Setting	What it does	Default
PivotTimeframe	Pivot timeframe (D1=daily, W1=weekly). Timeframe the levels come from, `PERIOD_D1`.	PERIOD_D1
ExtendRight	Extend lines to the right edge. Extend lines to the edge, `true`.	on
BounceTolerancePts	Touch tolerance (in points). Touch distance in points, `80`.	80

Display settings

Setting	What it does	Default
ShowR3S3	Plot R3 / S3 extra levels. Draw the outer pair, `true`.	on
ColorPP	PP line color. Pivot colour, `clrYellow`.	yellow
ColorR	Resistance line color. Resistance colour, `clrTomato`.	tomato
ColorS	Support line color. Support colour, `clrDodgerBlue`.	dodger blue
LineWidth	Line width. Line width, `1`.	1

Alert settings

Setting	What it does	Default
EnableAlerts	Master alert switch. Master alert switch, `true`.	on
EnablePopup	Popup alert.	on
EnablePushNotify	Push notification.	off
EnableEmail	Email alert.	off
EnableSound	Sound alert. Sound, ships on, `true`.	on
SoundFile	Sound file.	alert.wav

Timeframe and symbol

Daily pivots suit M15 and H1 charts. EURUSD H1 is the reference chart, where marks cluster around PP. On M5 they come often. Switch `PivotTimeframe` to weekly for H4 charts.

Where it falls short

Eighty points is a generous touch distance.

Trend days ignore the levels.

There is no cooldown between marks.

The sound route ships on.

Copy the compiled MTF 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 MTF Pivot Indicator: Pivot point (technical analysis) on Wikipedia, Pivot Point at Investopedia.

Download the MTF Pivot Indicator for MT4 and MT5

The zip holds the compiled MTF 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.

FAQ

How far is BounceTolerancePts 80 on EURUSD?

Eight pips. A low that stops within eight pips of a support still counts as a test, which catches bounces that turn just before the exact level.

Which levels can trigger an MTF Pivot BUY?

The central pivot and the supports S1, S2 and S3, the last only while `ShowR3S3` is on. The candle must close back above the level it tested.

What changes with PivotTimeframe set to W1?

All seven lines come from last week’s high, low and close. They stay fixed all week, which suits swing trading on H4 and daily charts.

Why do MTF Pivot BUY marks cluster near PP?

Price crosses the central pivot most often during a day, and there is no cooldown. Each qualifying test of that line prints its own mark.

Are results guaranteed?

No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the MTF Pivot Indicator as one input. Always backtest before trading live.