Identifying Potential Trends/Ranges (Pivot Points) - MT4 - MetaTrader 4 Scripts - MetaTrader 4 Resources
This script was developed to help us detect if a chart is indeed trending or is making no progress.
This script will highlight all swing highs and all swing lows
We just compile it and add it to any chart you want.
I used this script in my latest trading plan. As we all know, a trading plan must answer the question whether you want to trade a trending market or a sideways market.
You can watch the video below which will walk us through the 8 steps of building a solid trading plan, one of which is to determine if the market is trending.
You can watch the following video which explains how
Attachment download
📎 sct_pivotpoints.mq4 (9.45 KB)
Source: MQL5 #32187
Identifying potential trends/ranges (pivot points) - MT4 - MetaTrader 4 script usage and screening recommendations
Identifying Potential Trends/Ranges (Pivot Points) - MT4 - MetaTrader 4 Scripts are resources related to trading scripts. 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 only on titles or short-term profit descriptions.
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