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Best Pivot Points Indicator

historical pivot point indicator

This is the best free pivot points indicator for metatrader. It has GMT shift and it shows the historical pivot points, useful if you want to backtest your forex strategy.

How to calculate pivot points?

The pivot point formula is:

R2 = P + (H – L) = P + (R1 – S1)
R1 = (P x 2) – L
P = (H + L + C) / 3
S1 = (P x 2) – H
S2 = P – (H – L) = P – (R1 – S1)

As you see the pivot point calculation depends on the daily close. In this indicator you can choose the GMT shift for the formula. Basically you can choose to have the daily close set on New York market close or whatever time you prefer independently from you broker.