Forex Candlestick Pattern Pivot Points Trading Strategy
Forex Candlestick Pattern Pivot Points Trading Strategy is an indicator for MetaTrader 4 from the Old Kings collection. Its name points to pivot points (daily or weekly support / resistance levels) and candlestick patterns. It has 40 settings, for example Bar Diff (default 1), r (default 2) and s (default 10). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 3 indicator files with source code (.mq4) you can open and edit in MetaEditor. Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Indicator · MT4 · v1.0 · Free
About Forex Candlestick Pattern Pivot Points Trading Strategy
Forex Candlestick Pattern Pivot Points Trading Strategy is an indicator for MetaTrader 4. It has 40 settings, such as Bar diff, R and S. MQL source code included.
Files in the download: BH-Ergodic.mq4, CandleStick Patterns.ex4, installation manual.txt, pivot scalping with candlestick patterns.tpl, PivotsD_v5 (Black).mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Bar diff | 1 | calculations are taken between current bar and current bar + BarDiff |
| R | 2 | First moving average on mean values |
| S | 10 | Second moving average applied to first |
| U | 5 | Third moving average applied to division |
| Trigger | 3 | Final moving average or smoothing |
| Price type | 0 | 0=Close, 1=Open, 2=High, 3=Low, 4=Median, 5=Typical, 6=Weighted |
| Indicator on | true | |
| Use for forex | true | |
| Use day formula | true | |
| Exit period choices | M1, M5, M15, M30, H1, H4, D1 | Number of bars in the calculation |
| Exit if period greater than | H1 | Number of bars in the calculation |
| _ | ||
| Part 1 | Day Candle & Session Box Settings: | |
| Show day candle | true | |
| Shift day candle right | 49 | Bar shift (0 = current bar) |
| Show today box | true | |
| Today box color | C'30,33,36' | Colour on the chart |
| Show yesterday box | true | |
| Yesterday box color | C'20,18,41' | Colour on the chart |
| __ | ||
| Part 2 | Pivot Line Start/Stop Settings: | |
| Note1 | Start with fullscreen lines, enter '1' | |
| Note2 | Start lines at Day Separator, enter '2' | |
| Note3 | Start lines at current candle, enter '3' | |
| Start lines | 2 | |
| Stop lines at current candle | false | |
| ___ | ||
| Part 3 | Pivot Line Color & Selection Settings: | |
| Central pivot color | Blue | Colour on the chart |
| Cp line style 01234 | 0 | |
| Cp solid line thickness | 1 | |
| Resistance pivots color | FireBrick | Colour on the chart |
| R line style 01234 | 0 | |
| R solid line thickness | 1 | |
| Support pivots color | Green | Colour on the chart |
| S line style 01234 | 0 | |
| S solid line thickness | 1 | |
| Show mid pivots | true | |
| Mid pivots color | C'108,108,0' | Colour on the chart |
| M p line style 01234 | 2 |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Indicators.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: Pivot Points · Candlestick Patterns · MT4 Indicator · MQL4 Source Code