As the name suggests, the Yearly Pivot Point indicator for MT4 shows the yearly pivot point with accompanying support & resistance levels on the chart.
Every day, the indicator automatically updates the pivot point and S & R levels.
In essence, the Yearly Pivot Point indicator reveals the long-term currency trend based and should be useful for both swing traders and investors.
After you downloaded and installed the indicator on the MT4 trading platform, it should look like the image as shown below.
Key Points
- Displays the yearly pivot point & support/resistance levels
- Dynamically updates all levels every trading day
- Reveals the major currency trend
- Good for swing traders and investors
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system as a trend bias technical tool.
Free Download
Download the “YearlyPivot.mq4” MT4 indicator
Indicator Example Chart
The EUR/USD daily chart below shows the Yearly Pivot Point Forex indicator in action.
Basic Trading Signals
Signals from the Yearly Pivot Point indicator are easy to interpret and goes as follows:
BUY:
- Open a long-term buy trade when price closes above the yearly pivot point (bullish).
- Place stop loss below the previous swing low level.
- Take profit at a risk-to-reward ratio of at least 1.5 or better.
SELL:
- Open a long-term sell trade when price closes below the yearly pivot point (bearish).
- Place stop loss above the previous swing high level.
- Take profit at a risk-to-reward ratio of at least 1.5 or better.
Download This Forex Indicator
Download the “YearlyPivot.mq4” MT4 indicator
Adjustable Parameters & Settings
Colors, style
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: works on any time frame (preferred H4 and higher)
Indicator Type: pivot point
How to install the Yearly Pivot Point indicator in Metatrader 4?
- Copy and paste the YearlyPivot.mq4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
How to remove the indicator from the chart?
- Right click in the chart
- Select indicators list
- Click on the indicator’s name
- Click on the delete button