The technical indicator MT4 ZMFX all pivot levels v2 automatically calculates the levels of support and resistance levels and daily pivot points (daily), weekly (weekly) and monthly (monthly).
The levels to be displayed are selectable in the parameters.
The pivot points are used to provide bearings and resistances on the price of a stock or index.
The levels of support and resistance and the pivot point are strong psychological levels allowing the investor to:
. Forecast the magnitude of fluctuations in price prices
. Showing areas or prices can potentially stop or bounce back
.
Show trend reversal points by defining extreme areas of overbought and oversold . Bullish sentiment: price of the price above the pivot point
. Bearish sentiment: price of the price below the pivot point
. Extreme market overbought: price of price above the resistance level R3
. Extreme oversold market: current price below the support level S3
included
ZMFX all pivot levels v2 .mq4
Broker Online - Broker Stock Exchange : Trading Platform Metatrader MT4
Interpretation Rules - Signals From Trading
* Buy signal: Forecasts trend bullish
.
The price is above the pivot point (support level) - Trend down . The price affects a level of support in a bullish trend - Buy
. When a resistance level is broken upward, it becomes a new level of support
* Sales signal: Forecasts bearish trend
. The price is below the pivot point (resistance level) - Trend down
. The price affects a resistance level in a bearish trend - Sell
. When a support level is broken down, it becomes a new level of resistance
Learn more about the rules and trading signals:
.
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