Auto Pivot Lines Indicator for MetaTrader 4 Download - [TradingFinder]

The Auto Pivot Lines indicator in technical analysis automatically identifies price reversal zones by analyzing the last 20 highs and lows.

This MetaTrader 4 indicator uses the open, high, low, and close data of each candlestick to select three consecutive peaks or troughs as pivot points. It then draws continuous lines to display key reversal levels on the chart.

Auto Pivot Lines Specifications Table

The general specifications of the Auto Pivot Lines indicator are presented in the following table:

Auto Pivot Lines at a Glance

The Auto Pivot Lines indicator illustrates potential reversal or trend change zones by drawing dashed pivot lines and detecting price touches.

For timeframe distinction, three colored lines are used:

• Blue Line (Long-term): Indicates pivot levels based on 20 long-term pivots
• Green Line (Medium-term): Pivots from analyzing mid-range candles within the indicator's specified period
• Red Line (Short-term): Short-term pivots and reversal zones within the current chart timeframe

Uptrend Conditions

In the Nikkei Index's one-hour chart, the Auto Pivot Lines indicator identifies the alignment of three consecutive highs and lows across long-term (blue), medium-term (green), and short-term (red) ranges.

The intersection of these three lines indicates a buy entry opportunity.

Downtrend Conditions

The price chart below shows the GBP/JPY pair on a 5-minute timeframe.

This trading tool connects three long-term highs (blue line) and extends them as a dashed line to indicate a possible price reversal zone. A simultaneous breakout of the short-term (red) line offers a sell entry opportunity.

Indicator Settings

The configuration panel of the Auto Pivot Lines indicator is shown below:

• Display of the Long Term Zig Zag Line: Toggle visibility of the long-term ZigZag line
• Pivot period for the long-term zigzag line: Set the pivot interval used for long-term ZigZag calculation
• Style of the Long Term Zig Zag Line: Select the design style for the long-term ZigZag line
• Color of the Long Term Zig Zag Line: Choose the color applied to the long-term ZigZag pattern
• Width of the Long Term Zig Zag Line: Adjust the stroke thickness of the long-term ZigZag path
• Display of the Long-Term Pivot Line: Show or hide the pivot line derived from long-term analysis
• Display of the Medium-Term Zig Zag Line: Enable drawing of the medium-term ZigZag structure
• Pivot period for the Medium Term Zig Zag Line: Define the bar range for medium-term pivot calculation
• Style of the Medium-Term Zig Zag Line: Pick the style for displaying the medium ZigZag line
• Color of the Medium-Term Zig Zag Line: Assign a color to the medium-term ZigZag segment
• Width of the Medium Term Zig Zag Line: Modify the line width for medium-term trend illustration
• Enable display of the Medium Term Pivot Line: Turn on the pivot line display for mid-term zones
• Display of the Short-Term Zig Zag Line: Activate the short-term ZigZag display option
• Pivot period for the Short-Term Zig Zag Line: Configure the pivot period for short-term market swings
• Style of the Short-Term Zig Zag Line: Customize the visual format of the short-term ZigZag line
• Color of the Short-Term Zig Zag Line: Apply a specific color to highlight short-term price turns
• Width of the Short-Term Zig Zag Line: Set the line thickness for short-term ZigZag rendering
• Display of the Short-Term Pivot Line: Display the most recent pivot line for short-term action

Conclusion

The Auto Pivot Lines indicator analyzes the past 20 highs and lows and automatically connects three consecutive pivot points to draw key levels on the chart.

These dashed lines illustrate necessary reversal or trend continuation zones, displayed using three colors: blue (long-term), green (medium-term), and red (short-term).