Dynamic Pivots Indicator For MT5
Table Of Contents:
- Dynamic Pivots Indicator For MT5
- Trading ideas with the Dynamic Pivots Indicator For MT5
- Dynamic Pivots Indicator For MT5 - Buy Entries
- Dynamic Pivots Indicator For MT5 - Sell Entries
- Dynamic Pivots Indicator For MT5 - Conclusion
The Dynamic Pivots Indicator For MT5 draws intraday pivot levels based on a dynamic calculation. You can configure the levels according to your needs but the default setting for the pivot areas are 38.61%.
Partially Automated Trading Besides Your Day Job
Alerts In Real-Time When Divergences Occur
The Dynamic Pivots Indicator For MT5 is based on Austin Passamontea idea. Since the price movement of the financial instrument is extremely volatile, he proposed to use dynamic levels for the trade execution process. His concept becomes extremely popular and as a result of his hard work, we have the Dynamic Pivots indicator.
This indicator plots support and resistance levels with three unique bands. The top three sky blue color bands act as the resistance and the bottom three red color bands act as important support. These colored bands are separated from the grey color band in the middle. Though the Dynamic Pivots indicator can find the perfect trading zone with high accuracy, it is super important to follow a strategic edge. This indicator is not a complete strategy that will guide you in the execution process.
Take data reading from the indicator as a supporting tool. Only then you can expect to get better results. At times, rookies often ignore the importance of support and resistance. They become too much biased with the indicators reading and lose most of the money. While using the Dynamic Pivots indicator, use it rationally. Never consider it as the prime tool for trade executions.
Trading ideas with the Dynamic Pivots Indicator For MT5
You can clearly understand, the performance of the investors not only depends on the indicator, it also depends on the trading edge. As the pivot levels are calculated based on the opening and closing of the candles, it is important to give priority to the higher time frame. If you give emphasize the lower time frame, it will be a tough task to manage all the trades strategically.
The frequent changes in the dynamic pivots line and the small gap between support and resistance will make the trading process lot more difficult. To ease the process of trading, a trader should look for a safe approach. Get a paper account and start developing an edge? During that time, try to incorporate the Dynamic Pivots indicator into your existing system so that you can get the best results.
Note that the pivot lines will also show a significant change in its slope during major news. So, the trading system that you will be using must be based on a higher time frame. By choosing to trade the higher time frame, you can easily offset the problems associated with the news data fluctuations.
Dynamic Pivots Indicator For MT5 - Buy Entries
As investors look for the buying opportunity, they get confused with the market dynamics. They don’t know where to buy since they don’t have the idea to find a valid support zone. To solve this issue, you need a robust trading method that can allow you to find the best possible trade setups in any situation.
Once you find the perfect buying zone, it will be an easy task to improve your execution process. Find the buying zone and look for the bullish price action signal. If you fail to find the bullish price action signal, it’s perfectly fine. But make sure your trading method is capable of winning 60% of the time. The place where you will notice the buying signal should match the Dynamic pivot level.
The bullish rejection in the price should take place from the red lines. Since we have three red lines drawn by the Dynamic pivot indicator, we can use any of these three. But remember, the slope of these red lines must be up to consider it as a valid long trade setup. Once you have assessed all the important metrics, execute the long trade without having any confusion.
Dynamic Pivots Indicator For MT5 - Sell Entries
Opening a new short trade is a very challenging task. Most people forget the importance of the resistance level after they know the function of the Dynamics Pivots indicator. They simply put their trust in the blue lines drawn by the indicators. But these blue lines are dynamic levels. You have to match this blue line with an important resistance level.
Look for the price action signal at the resistance level. A strong bearish price action signal should match with the blue lines and the resistance zone. If everything goes according to the plan, you can have a short trade. But be careful with the trade setups. If you ignore the most basic elements and focus on a high-risk approach, you are going to blow up the trading account.
For the ease of trading, a trader needs to focus on risk management policy. The risk should never exceed 2% because if it does, it will impose a great threat to the investors. Recovering the loss will be impossible. Once you start following the safe approach at trading, you will easily master the art of making money by using the Dynamic Pivots indicator.
Dynamic Pivots Indicator For MT5 - Conclusion
Many traders fail to earn money even after using this classic Dynamic Pivots indicator. They are the one who breaks the rules and over trade the market. Remember, you should limit the number of trades you can execute per day. If you get busy with the shorter time frame and try to execute random trades just to earn more money, you are not going to become a perfect trader.
A skilled trader always focuses on a quality approach and they never break the core rules of trading. To make yourself comfortable, you must follow strategic steps and keep yourself tuned with the major news. As you keep yourself updated with the key news, it will be an easy task to avoid the false spike. Thousands of professionals are using the Dynamic Pivots indicator.
But none of them are ignoring the news factor. So, learn the fundamental analysis process to boost the chance of making a profit. It might take a while to sync with the technical and the fundamental factors of the market but once you get on track you will know trading is not a tough task. And never forget the fact, you have to use the Dynamic Pivots indicator only as a trader filter tool.
