BeST Classic Pivot Points 外汇EA

BeST_ Classic Pivot Points is an MT4 Indicator that is based on the widely known and definitely classic Pivot Point of a market
prices activity.

A pivot point is calculated as an average of significant prices (high,low,close) from the performance of a
market in the prior trading period. If the market in the following period trades above the pivot point it is usually evaluated as a
bullish sentiment, whereas trading below the pivot point is seen as bearish.

A pivot point and the associated support and resistance levels are often turning points for the direction
of price movement in a market.

In an up-trending market, the pivot point and the resistance levels may represent a ceiling level in price above which the
uptrend is no longer sustainable and a reversal may occur.In a

declining market, a pivot point and the support levels may represent a low price level of stability or a resistance to further
decline (

Wikipedia).

The calculation for a PP and its associated S & R levels is shown below:

• Pivot point (PP) = (High + Low + Close)/3
• First resistance (R1) = (2 x PP) – Low
• First support (S1) = (2 x PP) – High
• Second resistance (R2) = PP + (High – Low)
• Second support (S2) = PP – (High – Low)
• Third resistance (R3) = High + 2(PP – Low)
• Third support (S3) = Low – 2(High – PP)

Trading with pivot points is the ultimate support and resistance strategy.It takes away the subjectivity involved
with manually plotting S and R levels.

Input Parameters

Basic Settings

• Select Current Day’s Rectangle Color – for selecting the color of the Rectangle that includes all the bars of the
  current day
• Select Current Day’s Vertical Line Color – for selecting the color of the Vertical Line that specifies the
  starting moment of the current day
• Show Sunday Trading Hours – true if on our Chart there are trading bars on some hour of Sunday and false otherwise
• Sunday Trading Start Time – for making input the exact time that trading starts on 

Pivots Settings

For selecting the color, style and size of drawn lines and text.