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Classic Pivot Points and Three Support and Resistance Levels

Article MQL5 code base
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Summary

The document presents a classic pivot-point calculation based on a period’s high, low, and close. The central pivot is their average. It then derives three resistance levels above the pivot and three support levels below it, with the outer levels extending the high-low relationship around the pivot.

The material is a brief formula reference associated with an MT4 conversion of an MT5 indicator. It does not specify which candle period supplies the inputs, how the levels should be used to enter or exit trades, or how to handle gaps and changing market conditions. No performance evidence or backtest is provided, so the formulas alone do not establish that the levels predict price behavior.

Key ideas

  • The central pivot is calculated as the average of the high, low, and close.
  • The first support and resistance levels reflect the pivot relative to the period’s low and high.
  • The second levels use the distance between the first resistance and support levels.
  • The third levels extend the high-low range around the pivot.
  • The document supplies formulas but no trading rules or performance evidence.

Tags

Technical indicatorsFutures

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.