MetaTrader 4 indicator – Hourly Pivot Points with Color

5/4/2018 update:

  • Fixed an error in calculating S/R points by Fibo.
  • Fixed a bug in drawing objects.

This indicator uses two ways to calculate R1/R2/R3/S1/S2/S3: normal formula and Fibonacci, and users can choose one from them.

Main parameters

  • PivotMode:
    • Normal: use normal formula to calculate S and R.
    • Fibonacci: use Fibonacci to calculate S and R.

    .

  • CurrentHourOnly: only calculate lastet hourly PP if true.

 

 

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