WeeklyPivot - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Real author:
Unknown author
A reversal point indicator plotted on a weekly candlestick. The average purple line is the pivot point on the weekly candlestick. Support and resistance levels are defined by the size of the candlestick.
The indicator was first implemented in MQL4 and published in the code base of mql4.com on September 18, 2007.
Figure 1 WeeklyPivot indicator
Attachment download
📎 weeklypivot.mq5 (8.64 KB)
Source: MQL5 #1572
WeeklyPivot - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions
WeeklyPivot - MetaTrader 5 script | Foreign exchange indicator download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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