Forex Scalping Pivot Points Trading Strategy
This Old Kings indicator for MetaTrader 4 is called Forex Scalping Pivot Points Trading Strategy. Judging by its name, it is built around pivot points (daily or weekly support / resistance levels) and short scalping trades. In the code it works with divergence checks and MACD. It draws arrows on the chart and can send alerts. It has 30 settings, for example Use Sunday Data (default True), Daily (default True) and Daily SR Levels (default False). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 4 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 Scalping Pivot Points Trading Strategy
Forex Scalping Pivot Points Trading Strategy is an indicator for MetaTrader 4 based on Divergence and MACD. It draws buy and sell arrows on the chart and can alert you with a pop-up, sound, email or push message. It has 30 settings, such as Use sunday data, Daily and Daily sr levels. MQL source code included.
Files in the download: AutoPivotIndicator_ver5.mq4, FX5_Divergence_V2.1.mq4, installation manual.txt, rsx.mq4, scalping with pivot levels.tpl, SchaffTrendCycle.ex4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Use sunday data | True | |
| Daily | True | |
| Daily sr levels | False | |
| Daily mid levels | False | |
| Weekly | True | |
| Weekly sr levels | False | |
| Weekly mid levels | False | |
| Monthly | True | |
| Monthly sr levels | False | |
| Monthly mid levels | False | |
| Daily pivot | Magenta | |
| Daily s levels | LimeGreen | |
| Daily r levels | Red | |
| Daily mid level | LightSalmon | |
| Weekly pivot | Aqua | |
| Weekly s levels | SteelBlue | |
| Weekly r levels | Peru | |
| Weekly mid level | LightPink | |
| Monthly pivot | Gray | |
| Monthly s levels | Orange | |
| Monthly r levels | Blue | |
| Monthly mid level | LightSalmon | |
| Separator1 | *** OSMA Settings *** | |
| Fast ema | 12 | |
| Slow ema | 26 | |
| Signal | 9 | |
| Separator2 | *** Indicator Settings *** | |
| Draw divergence lines | true | |
| Display alert | true | Turn this alert on or off |
| Len | 14 |
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: Scalping · Pivot Points · Buy/Sell Arrows · Alerts · Divergence · MACD · MT4 Indicator · MQL4 Source Code