Commodity Trading Pivot Points Analysis Pivot Points Signals

Pivot Points Commodities Technical Indicator consists of a central commodity pivot-point which is surrounded by Three resistance areas above and 3 support areas below the center pivot.

Pivot Points Commodity Trading Indicator is considered to be leading technical indicator.

Pivot Points Commodities Technical Indicator provides a quick method for commodities traders to analyze the general commodity trend and analyze how the commodity market is going to be moving during the day. A few calculations are used to draw the resistance and support levels for the pivot point indicator.

To calculate these support & resistance areas for the coming trading day - the previous day's

• high,
• low, and
• closing commodities prices are used

The commodities trading day closes at 5:00PM EST and this daily closing time is when the Pivot Points Commodity Indicator is updated.

The 24 hour cycle for this Pivot Points Commodities Technical Indicator are calculated using a complex formula - the central commodity pivot-point is then used to calculate the support & resistance areas as follows:

Resistance Level 3

Resistance Level 2

Resistance Level 1

Commodities Pivot Point Technical Analysis

Support Level 1

Support Level 2

Support Level 3

Pivot Points Indicator

Pivot Points Commodities Technical Indicator can be used in different techniques to generate commodities signals. The following strategies are the most oftenly used technical analysis strategies:

Pivot Points Commodities Trading Indicator Trend Identification

The central commodity pivot point is used by commodities traders to determine the commodity trend direction. The commodities trades opened by traders will only be in direction of this commodity trend.

• Buy commodity signal - bullish commodity trend - commodities price is above the central commodity pivot point
• Sell commodity signal - bearish commodity trend - commodities price is below the central commodity pivot point

Pivot Points Commodities Indicator Price Break-out Signals

Commodities price break-out signals are generated as follows

• Buy commodity signal is generated when the commodities price breaks upwards through the central commodity pivot point.
• Sell commodity signal is generated when the commodities price breaks-out downwards through the central commodity pivot point.

Pivot Points Commodities Indicator Price Break Out

Pivot Points Commodities Technical Indicator Price Reversal Trading Signal

Pivot Points Commodities Technical Indicator Price reversal commodities trading signals are generated as is described below

Buy commodity signal - when commodities price moves downward towards one of the pivot points indicator support area, then touches the support levels or moves slightly through this support area then quickly reverses and moves upwards.

Sell commodity signal - when commodities price moving up towards one of the pivot point resistance area, then touches the resistance area or moves slightly through this resistance area then quickly reverses and moves downward.

Pivot Points Commodities Technical Indicator Price Reversal Trading Signal

Setting Stoploss & Take Profit Commodity Trading Order Levels

The central commodity pivot-point & the other support levels and resistance levels of this pivot points indicator are used by commodities traders to determine suitable commodity stop loss setting levels take profit areas.

Setting Commodity Trading Stop Loss Order Levels & Setting Commodity Trading Take Profit Commodity Trading Order Levels

If a buy order is placed above the central commodity pivot point the Resistance Level 1 or Resistance Level 2 can be used to set the take profit level, and the Support Level 1 can be used to set the StopLoss Commodity Trading Order Level for the commodities trade transaction.

To download Commodity Trading Pivot Points MT4 Indicator:https://c.mql5.com/21/9/pro4x_pivot_lines.mq4 Once you download the Pivot Points Commodity Trading Indicator - open the indicator with MQL4 Language Editor, Then Compile Pivot Points MT4 Indicator by pressing the Compile Button and Pivot Points MT4 Indicator will be added to your MT4 commodities trading platform. NB: Once you add Pivot Points MT4 Indicator to your MT4, the indicator has additional lines named Mid Points, to remove these additional Pivot Points MT4 Indicator lines open MQL4 Language Editor(shortcut keyboard key - press F4), and change line 16 from: extern bool midpivots = true: to extern bool midpivots = false: Then Press Compile again, and Pivot Points MT4 Indicator will then appear as exactly shown on this learn commodity web site.