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Pivot & Fibo Indicator Now in MetaTrader 5

April 20, 2010 by

Another conversion from MT4 to MT5 is presented to you today. It’s a TzPivots indicator that can display daily pivot points (several types), support and resistance levels and Fibonacci retracements on the main chart. It can adapt to different timezones (both your own and your MetaTrader server’s) and thus can be very useful in Forex trading. It wasn’t difficult to convert it to MQL5 and now it has some improvements (accompanied by a minor disadvantage) compared to the old version:

  • Functionality improved by allowing user to select more data that will be shown.
  • Removed some unused code pieces.
  • Despite that, increased code size (unfortunately).
  • Better code structure.
  • Proper (clean) deinitialization of the indicator.

You can get the code of the MT5 version or read more info about this pivot point indicator.

If you find some bugs in this MT5 indicator or want to make a suggestion regarding its functionality or what should be my next MT4->MT5 conversion, please, use the commentary form below.

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