You can now download the Time Zone Pivots Forex Indicator for MT5 for free on AtoZ Markets indicators gallery.
Pivot points are one of the most widely used indicators in day trading. The tool provides a specialized plot of support and resistance levels intended to find intraday turning points in the market.
Forex traders often find their own support and resistance levels by finding previous turning points in the market, pivot points plot automatically on a daily basis. Since many market participants track these levels, price tends to react to them.
Pivot points have the advantage of being a leading indicator. This means that the traders can use the indicator to gauge potential turning points in the market ahead of time. FX Traders can either act as trade entry targets themselves by using them as support or resistance, or as levels for stop-losses or take-profit levels.
Currency Pairs: any
Trading Session: any
How to download and install an indicator?
In order to install the indicator on your MT5 platform, you need to follow these steps:
- Click on “Download Indicator” button located at the bottom of the screen.
- Save the file to your computer.
- Extract and move the files into MT5>Indicator folder of the MetaTrader5 software file directory.
- Restart your Metatrader platform.
- Navigate to “Indicators.”
- And select “Time Zone Pivots Forex Indicator for MT5” template to apply it on the chart.
Note: This indicator was developed by Jack. AtoZ Markets does not carry any copyrights over this trading tool.