Source: Pivot point (technical analysis) Wikipedia Why use KT Pivot Points High Low Indicator MT4? Similarly, we can replace the daily with weekly or monthly data to estimate the pivot levels on other time frames. To calculate the pivot levels, we use the data points such as the previous day's high, low, and close price.

We can use the calculated Pivot point and data to project the support and resistance levels in the future, which can be used to anticipate the price movement around these pivot points support and resistance.Īlso, it is generally believed that if the price is trading above the pivot point, it indicates a bullish sentiment, while trading below the pivot point indicates a bearish sentiment.

The pivot point is found using the average of high, low, and closing prices compared to the previous trading day or session.

In the Forex market, the pivot point is the main central price level which can show the market trend and direction along with the projected support/resistance levels.

Pivot point indicator mt4 for mac