Pivots PRO.MQL5

This MetaTrader 5 (MQL5) indicator is a comprehensive technical analysis tool designed to overlay institutional price levels and volume data onto your chart. It combines four distinct trading concepts into a single indicator to help identify "confluence" zones.

Here’s a clear, user-level review of how to use this indicator, based on what it actually does and how it’s designed to be used.

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📌 What this indicator is for

PV Daily is an intraday trading tool that combines:

• 📍 Daily pivot levels (PP, R1–R3, S1–S3)

• 🕒 London & New York session opens

• 📊 Daily Volume Profile (POC, VAH, VAL)

• 🧮 61.8% Fibonacci retracements (previous day range)

It is not meant for higher-timeframe analysis.

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⏱ Supported timeframes (IMPORTANT)

✅ Works on:

• M1, M5, M15, M30, H1 (best results)

❌ Automatically disabled on:

• D1, W1, MN1
  (The indicator will not load at all on these TFs.)

👉 This is intentional and correct.

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🧭 How the indicator behaves

1️⃣ Daily reset logic

• At the start of each new trading day:

  • Previous day High / Low / Close are detected

  • New pivot levels are calculated

  • New volume profile is built from the prior day

  • Fibonacci 61.8% levels are recalculated

All levels then remain fixed for the entire day.

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2️⃣ Pivot levels

• PP = central balance level

• R1–R3 / S1–S3 = potential reaction / rejection zones

Typical use:

• Price above PP → bullish bias

• Price below PP → bearish bias

• Reactions at R/S levels → continuation or rejection trades

You can toggle:

• Pivot Point only

• Support/Resistance only

• Both

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3️⃣ London & New York session opens

• Draws horizontal lines at:

  • London open price

  • New York open price

• Lines remain visible only during their session duration
  (user-defined hours)

Typical use:

• Session open = intraday “anchor”

• Look for:

  • Break & hold

  • Fake break & reversal

• Especially powerful when aligned with pivots or POC

DST is handled automatically unless you force manual mode.

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4️⃣ Volume Profile (daily)

Calculated from the entire previous trading day:

• POC – price with highest traded volume

• VAH / VAL – value area (default 70%)

Typical use:

• POC = magnet / mean

• VAH / VAL = acceptance vs rejection zones

• Best combined with:

  • Session opens

  • Pivot levels

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5️⃣ Fibonacci 61.8% levels

• Based on previous day’s high → low range

• Draws:

  • 61.8% retracement from low (up)

  • 61.8% retracement from high (down)

Typical use:

• Confluence with:

  • Pivots

  • VAH / VAL

  • Session opens

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⚙ Key inputs you should understand

🔧 Line customization

Turn individual components on/off:

• Pivot point

• Support/resistance

• Session opens

• Volume profile

• Fibonacci

Use this to reduce clutter.

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🕒 Time & DST settings

• Auto UTC offset → recommended (default)

• Manual offset → only if broker time is unusual

• ForceManualDST → use only for testing or exotic brokers

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🏷 Pivot labels

• Optional text labels for all levels

• Adjustable font size

• Adjustable bar offset (to avoid overlapping price)

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✅ Best practice workflow

1. Load indicator on M5–M15

2. Use London open → NY open as the main trading window

3. Identify:

   • Bias (PP + POC)

   • Key levels (R/S + VAH/VAL)

4. Trade reactions, not blind breaks

5. Reduce inputs to what you actually use

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⚠ Common mistakes to avoid

• ❌ Using it on D1/W1/MN1 (it won’t load anyway)

• ❌ Expecting levels to update intraday (they shouldn’t)

• ❌ Trading every level without confluence

• ❌ Ignoring session context

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🧠 Final summary

This indicator is:

• ✔ Intraday-only

• ✔ Non-repainting

• ✔ Session-aware

• ✔ Confluence-focused

It works best when you treat it as a market structure + session framework, not a signal generator.

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