VR Pivot – defining key levels
Version: 23.020
Updated: 13.02.2023
Added: 18.03.2021
License: Paid-Free
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Updated: 25.02.2024
Added: 08.10.2018
License: Free
The VR Donchian indicator is an improved version of the Donchian channel. The indicator is named after Richard Donchian, who made outstanding achievements in the field of commodity money management. Unlike most channels, VR Donchian recolors channel levels in different colors depending on the direction of the level. The indicator code is maximally optimized and practically does not consume the resources of the MetaTrader terminal. The effectiveness of Donchian channels has been proven by thousands of traders around the world.
Version: 21.100
Updated: 10.10.2021
Added: 17.05.2020
License: Paid-Free
This utility will allow you to work with a large number of templates quickly and comfortably. You will be able to load, save, create templates, sync between terminals and make backup copies. By changing the template, the utility can immediately change the financial instrument and the chart period...
Version: 23.110
Updated: 13.11.2023
Added: 14.06.2018
License: Paid-Free
VR System is not just an indicator, it is a whole, well-balanced trading system. This system includes simple indicators Moving Average and Donchian channel. The system is built on classic trading rules. The rules for entering the market, holding a position in the market and the rules for exiting a position are taken into account.
Points of Pivot are considered leading indicators, as they show levels that have not yet worked out, levels for the current period. The best period for calculating pivot points is a daily period.
The first way is to use dots as support and resistance levels. abrupt movements. Pivot points are best used as support and resistance levels. During such periods, professional traders set stop loss outside the breakpoints and take profit levels between the breakpoints.
The second way is to use control points as breakout levels. In situations where there is increased volatility on a financial instrument, it is recommended to use control points as breakout levels. If the price broke through the level and fixed, that is, the current period closed with a breakout of the control point, it is recommended to use this moment to enter the market in the direction of the breakout of the control point.
Third way - breakpoint levels can be used in conjunction with support and resistance levels set by the trader. If the support and resistance levels set by the trader are close to the Pivot control points, at best, it will use the Pivot control points and calculate the stop loss and take profit levels relative to the Pivot levels.
Fourth way - if you trade position networks and you have several positions of the same type in the market. To open the following positions, the best option would be to use Pivot levels. In situations where you top up along the trend, the Pivot levels breakout points will be the best entries in the direction of the trend. And in situations when you top up against the trend, Pivot points will be the best places to open a position to cut losses.
The picture shows a highly volatile instrument, and we can clearly see how the price moved and broke through almost all points, except for the farthest and strongest R3 level. After the price failed to gain a foothold, breaking through the R3 level, the price reversed and went down. When trying again, the price failed to even break through the R2 level.
Over time, several formulas for key pivot points have been developed. Each formula is unique and interesting in its own way. In almost every formula, open (Open), close (Close), high (High) and low (Low) of the previous period.
Resistance R, Support S.
[-] === Main Settings === [-] - Main settings;
[-] === Level Pivot Point === [-] - Levels Pivot Point;
[-] === Level R1 === [-] - Level R1;
[-] === Level R2 === [-] - Level R2;
[-] === Level R3 === [-] - Level R3;
[-] === Level R4 === [-] - Level R4;
[-] === Level S1 === [-] - Level S1;
[-] === Level S2 === [-] - Level S2;
[-] === Level S3 === [-] - Level S3;
[-] === Level S4 === [-] - Level S4;
Version 23.020 - 13.02.2023
Increased the speed of the indicator;
Added the ability to select the type of price display. It can be text, or an icon;
Version 21.080 - 17.08.2021
The program is compiled in the latest version of the MetaTrader terminal
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