Higher TimeFrame Pivots Scanner
- Indicators
- Wen Rui Tan
- Version: 1.0
- Activations: 20
This is the higher timeframe pivot scanner. There are quite a few input options to choose from,
to calculate the Daily, Weekly, or the Monthly Pivots, for any forex pairs / or your own pairs.
You can use the Fibonacci way of calculating the pivots, or the Standard way of calculation.
The input choice also has 5 different ways to choose from:
- using the averages of High, Low and Close.
- using the averages of High, Low, Close, and Close.
- using the averages of High, Low, Open, and Close.
- using the averages of High, Low, Open, and Open.
- using the averages of High, Low, and Open.
The scanner also has alert functions to send alert through notification, email, sound, and message box.
You can also customize the pip distance levels from these big pivot points for alerts that you're interested
in. I have pre-set the pivots to be weekly by default, and have these 15 levels to be alerted by default:
R38, R61, R78, R100, R138, R161, R200 ( Resistance Levels ),
S38, S61, S78, S100, S138, S161, S200 ( Support Levels ),
and the weekly Pivot Point as well.
This is the standalone app to make it simple and easy to use. This feature is also embedded in the
"Smart Market Structure Opportunity Scanner" as an option to be turned on or off.
Hope this will aid your trading, especially if you're a swing trader.
One example that shows the high probability trade happened on the day I posted this indicator:
1. chart 1, the scanner showed EURGBP is the highest probability buy trade on 6/11/2024, as it's 0 pip
below S138 ( Support Level ) on weekly pivot, at 0.8431.
2. chart 2, on next day 6/12/2024, it went above 15 pips to 0.84451. The scanner shows it's 6 pips
below S100 ( Support Level ).
3. chart 3, is the 30-minute chart of EURGBP on next day. It established double bottom at 0.8418,
testing previous low happened a day ago on 6/11/2024 about 12 hours earlier, at exactly the same
low price point at 0.8418, and quickly reversed, and went above 0.8452 for the high of the day.
For swift day trader or swing traders, this would be an invaluable tool to catch 20 30 pips in a short
time, without having to take big risks, or taking a long time waiting for the trade to come to fruition.
And, it has the potential to go much higher, for the patient trader too.
