Introduction


In technical analysis, pivot points are one of the most effective tools for identifying potential support and resistance levels. Whether you're a beginner or an experienced forex trader, these levels help guide decision-making, especially in intraday trading. One standout tool in this space is the WyattsPivots Indicator V2.1, now available with MQ4 source code, offering customization power like never before.


Built for MetaTrader 4 (MT4), this indicator delivers reliable daily, weekly, and monthly pivot points based on standard and Fibonacci-based calculations. With WyattsPivots V2.1 MQ4, you gain full control over the code, allowing you to tailor it to your unique trading strategy or even integrate it with other EAs or custom indicators.


WyattsPivots Indicator Source CodeV2.1


What is WyattsPivots Indicator V2.1?


The WyattsPivots Indicator is designed to draw key pivot levels on your MT4 chart, giving traders a clear view of potential turning points in the market. These pivot lines—such as the central pivot point (PP), support (S1, S2, S3), and resistance (R1, R2, R3)—can be used to determine entry, stop-loss, and take-profit levels.



  • Improved Calculation Engine: Accurate pivot level plotting for daily, weekly, and monthly intervals.

  • Customizable Timeframes: Choose which pivot levels to display for better chart clarity.

  • Visual Improvements: Cleaner lines, customizable colors, and labeling options.

  • MQ4 Source Code Access: Full transparency for learning, modification, and integration.


How It Works


WyattsPivots calculates the central pivot point (PP) based on the previous period's high, low, and close. From there, it plots multiple levels of support and resistance using both classic and optional Fibonacci-based calculations.


Formula Breakdown (Standard):




  • Pivot Point (PP) = (High + Low + Close) / 3




  • Support and Resistance:



  • R1 = (2 × PP) – Low

  • S1 = (2 × PP) – High

  • R2 = PP + (High – Low)

  • S2 = PP – (High – Low)

  • R3 = High + 2(PP – Low)

  • S3 = Low – 2(High – PP)


Why Choose WyattsPivots V2.1 MQ4?



  1. Open-Source Freedom
    With full MQ4 access, you can edit the logic, add alerts, combine with other indicators, or even convert it into an EA.

  2. Highly Reliable
    Based on proven pivot formulas, this indicator gives you clear market levels that are used by professional traders around the world.

  3. Perfect for Scalping and Swing Trading
    Works well across multiple timeframes and market types—forex, commodities, and indices.

  4. Visual Clarity
    Clean interface, color-coded lines, and label settings ensure easy navigation on your chart.

  5. Lightweight & Fast
    Minimal lag and optimized for smooth performance, even on older machines or low-resource VPS setups.

  6. Ideal for Strategy Building
    Use this indicator as a base for building your custom breakout, bounce, or reversal strategy.


WyattsPivots Indicator Source CodeV2.1


Practical Use Tips



  • Use pivot points in confluence with price action or candlestick patterns.

  • Combine with indicators like RSI or MACD to filter false breakouts.

  • Adjust support/resistance visibility to avoid clutter.

  • Enable alert settings (customizable via MQ4) for key level touchpoints.


Conclusion


The WyattsPivots Indicator Source Code V2.1 MQ4 is not just a helpful tool—it’s a gateway to mastering pivot-based trading strategies. With full access to the code, you're empowered to tweak, enhance, and personalize every element of the indicator. Whether you're analyzing short-term movements or longer-term trends, this indicator can help you map the markets with precision.


If you're serious about technical trading and want to build or improve your own trading system using pivot levels, WyattsPivots V2.1 with source code is an invaluable asset to have in your MT4 arsenal.


HAPPY TRADING