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TakingStock12
This is a custom zig-zag indicator I have modified ( original version was from here but cannot find reference).
The zig zag lines are transparent by default as well and the value numbers removed so that background objects do not hose charting. The only thing I use for PATS is the semaphore dots this creates to check and create new trend lines. In addition whenever a semaphore is painted this has an option to add an audio alert. This feature has been invaluable to my trading. If you follow Mack and PATS this simple indicator might provide value to you.
Central Pivot = Black
Support (S1, S2, S3) = Blue
Resistance (R1, R2, R3) = Red
Blue dash lines are the M pivots.
Very accurate daily pivots for MT4. I have been using these for 4 months, and use them on my 1 hour chart.
The only draw back is if your MT4 platform uses Sunday data the pivots on Mondays are off. I am not a coder and unable to change that (I have asked the author to do a version for platforms that use Sunday Data). However the other 4 days very accurate. If your platform does not use Sunday data then the pivots are excellent for all 5 days.
I did not code this but I have asked and been given permission from the author to post these.
August 6th, 2012 01:01 PM gentech I love this! You're a genius! It's perfect for my system.
October 6th, 2011 03:26 PM ulgolog Thank you! I was just about to leave you a note asking if you made any progress... Fantasticly simple and useful. :co
ngrats:: )
September 18th, 2011 03:28 PM marxtone Thank You !!!
August 18th, 2011 07:59 PM rutherfordk Perfect !! Thank you.
October 31st, 2018 10:54 PM mhamrin This is one of the finest indicators that I have found here...tinkered with it for a while...very robust. I'll be using
to make more money...
September 4th, 2016 07:52 AM ShaunG Much appreciated! I am a fellow student of Macks so I am quiet exited to see how this will enhance my trading from a vis
ual point of view. Many thanks again!
December 7th, 2013 05:45 PM awvcs
November 27th, 2013 03:59 AM aleks25
October 24th, 2013 03:08 AM Richie Z just coming into bare back riding, thanks for this wee indicator.