The Multi Pair Pivot Point Scanner Alerts V2.8 Forex indicator for Metatrader 5 scans all symbols for pivot points and the accompanying support and resistance levels.
At a glance, the indicator will give you all possible entry levels and take profit levels based on pivot points.
The indicator does not lag the price and sends out signal alerts in real time.
For example: EUR/USD has crossed the D1 pivot point GBP/JPY has crossed R1, etc.
The indicator is displayed in the main chart as a pivot point dashboard.
How to spot trend direction with this indicator?
- The trend is upward when the currency pair crosses above the pivot point.
- The trend is downward when the currency pair crosses below the pivot point.
The indicator contains the following inputs and parameters: pivot point formula, pivot point time frame, alert mode to use, symbols to scan, symbol prefix, symbol suffix, use popup alerts, use push notification, use email alerts, bounce settings, use Bollinger bands, pivot point alerts.
First, familiarize yourself with this technical indicator and test it on a demo account.
It supports all time frames and Forex pairs.
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Multi_Pair_Pivot_Point_Scanner_Alerts_v2.8.mq5 Indicator (MT5)
Chart Example
The following chart shows how the Multi Pair Pivot Point Scanner Alerts V2.8 indicator looks when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Multi Pair Pivot Point Scanner Alerts V2.8 Indicator?
Find a simple trading example below:
Buy Signal
- A bullish signal is given when the price has crossed above the pivot point.
- Open a buy transaction and place your stop loss below technical support.
- Close the buy trade at the following resistance levels: R1, R2, R3.
Sell Signal
- A bearish signal is given when the price has crossed below the pivot point.
- Open a sell transaction and place your stop loss above technical resistance.
- Close the sell trade at the following support levels: S1, S2, S3.
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Multi_Pair_Pivot_Point_Scanner_Alerts_v2.8.mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Multi_Pair_Pivot_Point_Scanner_Alerts_v2.8.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration