RJO Daily Pivot Levels is a lightweight Daily Pivot Points indicator for MetaTrader 5.
The indicator calculates the current day's pivot levels using the High, Low and Close of the previous completed D1 candle.
Features:
- Pivot Point (PP)
- Resistance levels R1, R2 and R3
- Support levels S1, S2 and S3
- Classic Pivot calculation
- Fibonacci Pivot calculation
- Works on all chart timeframes
- Individual levels can be enabled or disabled
- Customizable line colors, styles and widths
- Optional price labels
- Uses the previous completed daily candle
Classic method:
PP = (High + Low + Close) / 3
Fibonacci method:
Levels are calculated from PP using 0.382, 0.618 and 1.000 of the previous day's range.
The indicator does not open or manage trades. It is intended as a simple support and resistance analysis tool.