MT4 Pivot Point Indicator (Scanner)
MT4 Pivot Point Indicator calculates support and resistance levels using six methods — Classical, Woodie, Fibonacci, Camarilla, CPR, and DeMark — across daily, weekly, monthly, or custom sessions. The scanner monitors level interactions across all specified assets with a structured dashboard and configurable alerts.
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What the Pivot Point Indicator Does
MT4 Pivot Point Indicator calculates structural price reference levels using one of six selectable methods. The levels are derived from the high, low, close, and in some methods the open of the previous calculation period — producing a central Pivot Point and a set of support and resistance levels positioned symmetrically or asymmetrically around it depending on the method.
On the chart, the Pivot Point is displayed in black and labeled “PP”. Resistance levels are displayed in red and labeled “R”. Support levels are displayed in blue and labeled “S”. Each level can be enabled or disabled independently in the settings.
The calculation period is configurable across four options: Day, Week, Month, or Custom. The custom option allows the start and end of the calculation interval to be defined in hours and minutes.
Pivot Point Indicator — Calculation Methods
The indicator calculates levels using one of six methods: Standard / Classical, Woodie, Fibonacci, Camarilla, Central Pivot Range (CPR) and DeMark.
Standard / Classical
The Pivot Point is calculated from the high, low, and close of the previous period.
Four support and four resistance levels are derived symmetrically from the Pivot Point using the price range.
The formula used to calculate Classical Pivot Points is:
R4 = R3 + RANGE (same as: PP + RANGE * 3)
R3 = R2 + RANGE (same as: PP + RANGE * 2)
R2 = PP + RANGE
R1 = (2 * PP) - LOW
PP = (HIGH + LOW + CLOSE) / 3
S1 = (2 * PP) - HIGH
S2 = PP - RANGE
S3 = S2 - RANGE (same as: PP - RANGE * 2)
S4 = S3 - RANGE (same as: PP - RANGE * 3)
from R1 to R4 — resistance levels from 1 to 4,
PP is the Pivot Point,
from S1 to S4 — support levels from 1 to 4,
RANGE is the maximum minus the minimum for a given timeframe
Woodie
The opening price of the new period is used instead of the closing price and is given double weight — producing a Pivot Point positioned closer to the current market price.
Four support and resistance levels are calculated.
The formula used to calculate Woodie Pivot Points is:
R4 = R3 + RANGE
R3 = H + 2 * (PP - LOW) (same as: R1 + RANGE)
R2 = PP + RANGE
R1 = (2 * PP) - LOW
PP = (HIGH + LOW + (Period’s Open * 2)) / 4
S1 = (2 * PP) - HIGH
S2 = PP - RANGE
S3 = L - 2 * (HIGH - PP) (same as: S1 - RANGE)
S4 = S3 - RANGE
from R1 to R4 — resistance levels from 1 to 4,
PP is the Pivot Point,
from S1 to S4 — support levels from 1 to 4,
RANGE is the maximum minus the minimum for a given timeframe
Fibonacci
The Pivot Point is calculated using the standard formula. Additional levels are derived from the price range using Fibonacci ratios.
Three support and resistance levels are calculated.
The formula used to calculate Fibonacci Pivot Points is:
R3 = PP + (1 * RANGE)
R2 = PP + (0.618 * RANGE)
R1 = PP + (0.382 * RANGE)
PP = (HIGH + LOW + CLOSE) / 3
S1 = PP - (0.382 * RANGE)
S2 = PP - (0.618 * RANGE)
S3 = PP - (1 * RANGE)
from R1 to R3 — resistance levels from 1 to 3,
PP is the Pivot Point,
from S1 to S3 — support levels from 1 to 3,
RANGE is the maximum minus the minimum for a given timeframe
Camarilla
The Pivot Point is calculated using the standard formula. Support and resistance levels are derived from the price range using a fixed multiplier (1.1), positioned symmetrically around the closing price of the calculation period.
Four levels are calculated on each side.
The formula used to calculate Camarilla Pivot Points is:
R4 = CLOSE + RANGE * 1.1/2
R3 = CLOSE + RANGE * 1.1/4
R2 = CLOSE + RANGE * 1.1/6
R1 = CLOSE + RANGE * 1.1/12
PP = (HIGH + LOW + CLOSE) / 3
S1 = CLOSE - RANGE * 1.1/12
S2 = CLOSE - RANGE * 1.1/6
S3 = CLOSE - RANGE * 1.1/4
S4 = CLOSE - RANGE * 1.1/2
from R1 to R4 — resistance levels from 1 to 4,
PP is the Pivot Point,
from S1 to S4 — support levels from 1 to 4,
RANGE is the maximum minus the minimum for a given timeframe
Central Pivot Range (CPR)
Two reference levels are calculated: the standard Pivot Point and an additional level derived from the high and low of the period.
Three support and resistance levels are calculated.
The formula used to calculate Central Pivot Range (CPR) is:
R3 = PP + 2 * (HIGH - LOW)
R2 = PP + (HIGH - LOW)
R1 = (2 * PP) - LOW
PP = (HIGH + LOW + CLOSE) / 3
S1 = (2 * PP) - HIGH
S2 = PP - (HIGH - LOW)
S3 = PP - 2 * (HIGH - LOW)
from R1 to R3 — resistance levels from 1 to 3,
PP is the Pivot Point,
from S1 to S3 — support levels from 1 to 3
DeMark
A single reference level and two additional levels are calculated — one support and one resistance.
The calculation applies different weights to the high, low, and close depending on the relationship between the closing and opening prices.
The formula used to calculate DeMark Pivot Points is:
Value X depends on the closing price:
If CLOSE < OPEN then X = (HIGH + (LOW * 2) + CLOSE)
If CLOSE > OPEN then X = ((HIGH * 2) + LOW + CLOSE)
If CLOSE = OPEN then X = (HIGH + LOW + (CLOSE * 2))
R1 = X / 2 - LOW
PP = X / 4
S1 = X / 2 - HIGH
R1 — resistance level,
PP is the Pivot Point,
S1 — support level,
X — weighted sum of the period’s high, low and close
Multi-Asset Scanner Dashboard
The dashboard displays all Pivot Point levels with their current prices across all monitored assets in a single structured table — assets in rows, level values in columns.
When price approaches a level, the corresponding cell is highlighted: resistance level cells turn red, support level cells turn green. An alert is issued simultaneously. Clicking any row updates the chart to the corresponding asset directly.
Analytical Context
Pivot Point levels are structural reference points derived from the prior period’s price data. The position of the current price relative to the central Pivot Point provides a directional context reading: price above PP reflects a bullish structural context, price below PP reflects a bearish one.
The distance between the session opening price and the Pivot Point provides additional structural context. When the opening price is close to the Pivot Point, this is commonly associated with a ranging condition where the nearest support and resistance levels function as structural boundaries. When the opening price is significantly above or below the Pivot Point, this is commonly associated with a directional bias — price may move toward the Pivot Point, interact with it, and then continue in the direction of the prevailing move.
Pivot Point levels are also used as structural reference points for risk parameter definition — the nearest support or resistance level provides a structural boundary that can be used within a position management framework.
Indicator Limitations — Pivot Point levels are calculated from the prior period’s high, low, and close. They represent mathematical reference points based on historical data — they do not predict future price movement and do not guarantee that price will react at any displayed level. All identified levels should be evaluated within a broader analytical framework.
Indicator Settings & Parameters
The indicator has the following parameters.
| Parameter | Description |
|---|---|
| Scanner & Alerts | |
| Assets | Instruments to include in the scanner, entered as a comma-separated list. |
| Max_bars | Limits the historical calculation depth. Reducing this value improves calculation speed. |
| Enable alert / Enable email / Enable mobile | Alert delivery: platform notifications, email, or mobile — each configurable independently. |
| Pivot Calculation | |
| Pivot_type | Selects the calculation method.
|
| Period_session | Selects the data period for calculation.
|
| Trading_session | Defines the custom session start and end times in hours and minutes. Applicable only when a custom period is selected. |
| Display | |
| Period_display_mode | Configures whether one or multiple calculation periods are displayed simultaneously. |
| Display_session_number | The number of periods to display when multi-period display is enabled. |
| Display_R1–R4 / S1–S4 | Enables or disables individual support and resistance levels independently. |
System Requirements & Installation
What you need to run the indicator, how to download and install it in MetaTrader 4, and how the license works.
System Requirements
- Platform
- MetaTrader 4 (Desktop)
- Operating system
- Windows 10 or Windows 11
- Instruments
- Forex pairs, metals, indices, CFDs and other symbols available from your broker in MetaTrader 4
- Data
- Your broker’s price feed in MetaTrader 4
Not available on MetaTrader 4 Web or Mobile. Custom indicators run in the MetaTrader 4 desktop terminal only.
License Terms
- Lifetime License
- This indicator only, 1 live and 1 demo account, one-time payment, free updates included.
- All-Access Subscription
- All indicators and trade copiers, billed monthly, cancel anytime, updates included while the subscription is active.
- Free trial
- 5 days on the subscription plan. If not cancelled, the subscription starts automatically.
- License binding
- Linked to your email and to your MetaTrader 4 trading accounts: one live account and one demo account.
- Computers
- Not restricted. The license is linked to your trading accounts, not to a specific computer.
Installation
- Get access
Start the free trial, subscribe, or buy a lifetime license on this page.
- Download
The indicator is not sent by email. Open (top right of this page) and enter the email you used for your trial, subscription or purchase. The indicator file (.ex4) downloads to your computer.
- Copy to the MetaTrader 4 data folder
In MetaTrader 4, go to
File → Open Data Folder, openMQL4 → Indicatorsand copy the downloaded .ex4 file there. - Add to a chart
Restart MetaTrader 4 or right-click Indicators in the Navigator window and select Refresh. Then drag the indicator from the Navigator onto a chart.
- Activate the license
In the indicator inputs, enter the same email. On first activation, the license is linked to that email and to the trading account the terminal is logged into.
If MetaTrader 4 asks for additional permissions when the indicator is attached, such as DLL imports or WebRequest access, allow them in the indicator’s Common tab or under
Tools → Options → Expert Advisors.
Updating: When a new version is released, download it again through and replace the existing .ex4 file in the same folder.
Installation questions? Contact support, Monday to Friday.
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Disclaimer — Software Use & Risk Disclosure
Nordman Algorithms is a trade name of Nordman Algorithms OÜ (Reg. No. 14435535), registered in Tallinn, Estonia.
Software Use
Software Nature & User Responsibility — Nordman Algorithms provides algorithmic software tools for technical analysis. Nordman Algorithms is not a financial advisor and is not liable for any losses. All trades conducted based on the software’s output are executed at the user’s sole discretion and risk.
Visual Markers & Signal Disclosure — This software may display visual markers (such as arrows, dots, or alerts) when predefined mathematical conditions are met. These markers are provided for educational and analytical purposes only, must not be interpreted as financial guidance, and do not constitute a recommendation to buy, sell, or hold any financial instrument. Users must independently validate all visual cues within their own trading methodology.
No Financial Advice — Nordman Algorithms does not provide discretionary trading signals, investment advice, or managed signal services. Our software represents a mathematical visualization of historical and real-time data. The appearance of a visual marker does not guarantee a profitable trade or predict future market behavior.
Read the full Terms of Service →Risk Disclosure
Trading Risk Warning — Futures, Forex, and options trading involve significant risk. Risk capital is money that can be lost without jeopardizing financial security. Only risk capital should be used for trading. Past performance is not indicative of future results. An investor could potentially lose all or more than the initial amount committed.
ESMA Risk Warning — Financial instruments, especially those involving leverage such as CFDs and Forex, are complex and carry a high risk of rapid financial loss. Our software provides analytical outputs and visual markers based on predefined mathematical conditions and does not mitigate or reduce inherent market risks. You should carefully consider whether you understand how leveraged financial instruments work and whether you can afford the high risk of losing your capital.
CFTC Rule 4.41 — Hypothetical or simulated performance results have inherent limitations. Unlike actual performance records, simulated results do not represent real trading. Because trades have not actually been executed, these results may under- or over-compensate for the impact of market factors such as liquidity. Simulated results are also subject to the benefit of hindsight. No representation is being made that any account will achieve profits or losses similar to those shown.
Read the full Risk Disclosure →Trademark Notice — MetaTrader 4 and MT4 are trademarks of MetaQuotes Ltd. Nordman Algorithms is an independent software developer and is not affiliated with, sponsored by, or endorsed by MetaQuotes Ltd. References to MetaTrader 4 identify software compatibility.
Need a different setup?
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