Pivot" is a total of seven lines, including the PivotPoint, which is the reference line; S1, S2, and S3, which are support lines; and R1, R2, and R3, which are resistance lines. This time, it is useful when there are unexpected price movements such as financial shock systems.Free distribution of improved Pivot indicatorI will do so. In MT4, Pivot was capable of displaying a total of 13 bars up to R6 and S6, but we wondered if it would be okay to display up to R5 and S5. Therefore, we have made it possible to display a total of 11 pivots automatically (Auto). Furthermore, we have made improvements to the text display position, which I personally was dissatisfied with in the MT4 version, so if you are interested in using it, please give it a try. Of course, anyone can download it for free.

Pivot indicator that displays Pivot automatically (Auto)

The indicator is displayed on the MT5 chart.

You can change various settings from the parameters.

Share (version information)

September 17, 2023: Ver. 1.00 released free of charge

This indicator is distributed free of charge. There are no distribution conditions, so anyone can download and use it. However, there are people who sometimes sell tools that are distributed for free, so in order to avoid scam victims, we have included the following information.

Input (parameter input)

The following is an explanation of how to set the settings one by one. [Line Thickness].

You can choose from five different thicknesses, from ultra-fine to ultra-thick. [Line type].

You can choose from five different types of lines. *Please note that if the line thickness is made thicker, gaps such as dotted lines will be closed and the line will look solid.

Texts from R5 to S5 are displayed on the right side of the line. If not needed, change to false to hide it.

Text Size] This is the size of the text from R5 to S5. If it is too small to read, increase the number to make it larger. The default value is 0, which means that the text will be displayed to the right of the current candlestick.

The larger the number, the further to the left the candlestick moves. The following is a case where 20 is entered

Line color setting

Each line and text will be the same color. The color of all 11 lines can be set individually from the color palette.

Color] This item is not used since everything can be changed from the parameters. It can be set individually, but when the chart is reloaded, it will be rewritten to what is set in the parameters.

MT5用のPivotラインを１１本自動で引いてくれるインジケーター