Murrey Math Pivot Lines for Support, Resistance, and Break Alerts
Summary
This MetaTrader indicator plots a set of Murrey Math pivot levels on the price chart for traders who use support, resistance, and pivot references. It displays eight primary lines with additional levels, and can alert when a candle closes across one of them. The indicator is configurable by lookback period, an optional higher timeframe, and a step-back shift that changes which bars inform the levels.
Other settings control label placement, line styling, chart markers, and whether alerts use pop-ups, email, or platform notifications. The trigger can use the last completed candle or the still-forming candle, which affects how early an alert appears and whether it may change before the bar closes. The description explains configuration and signal behavior but provides no mathematical derivation, tested trading rules, or performance evidence. Pivot breaks are chart signals rather than validated forecasts, so users would need to define confirmation, exits, and risk controls independently.
Key ideas
- The indicator plots eight primary Murrey Math levels plus additional pivot lines.
- Lookback length, timeframe, and step-back settings determine the bars used to calculate levels.
- Alerts can trigger when a selected candle closes across a pivot line.
- Using an unfinished candle can produce an earlier but less settled alert.
- The description provides no evidence that pivot breaks predict profitable trades.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.