Monthly Pivot

What is Pivot?

"In financial markets, a pivot point is a price level that is used by traders as a possible indicator of market movement. A pivot point is calculated as an average of significant prices (high, low, close) from the performance of a market in the prior trading period." - wikipedia

What is Monthly Pivot?

This MT4 indicator plots monthly pivot points. Price tends to return to this monthly pivot line over a period of time.

• The Magenta line in the chart is the monthly pivot line.
• The green lines are the R1, R2, R3 of the monthly pivot.
• The red lines are the S1, S2, S3 of the monthly pivot.

Congratulations, you've found an Easter egg. So, here's a secret: If you look at the charts below, you will see that price tend to return to the magenta pivot line over a period of time :)

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