Pivot points are perhaps the most usefull indicator for intraday trading, IMHO, but seeing the price action that occurs around these levels makes all the difference between profitable trades and multiple stop losses. Therefore, I modified the AutoPivotIndicator.mq4 posted by Habeeb for use with the Visual Mode of backtesting in the MQL Strategy Tester. Many thanks to Habeeb for his initial work.
Here's a link to his thread:
http://www.forexfactory.com/showthre...02#post1780402
The Visual_BT_Pivots indicator displays the weekday and price on the Pivot level and the price on each sup/res level. It also has the option to display the pivot levels for the current day (usefull on Friday afternoon) as well as days from the past.
To use the Visual_BT_Pivots for visual backtesting simply apply it to a chart then save the template as "tester". Then run any EA and you will see the pivot levels and labels displayed for each day, week or month. I modified the indicator to only display daily, weekly or monthly pivots not all three at once. Otherwise, there are too many lines and I don't like messes.
I have several indicators I use for Visual Backtesting, but few are as usefull as this. I hope that you find it as helpfull in creating a good system as I have so far.
Here's a link to his thread:
http://www.forexfactory.com/showthre...02#post1780402
The Visual_BT_Pivots indicator displays the weekday and price on the Pivot level and the price on each sup/res level. It also has the option to display the pivot levels for the current day (usefull on Friday afternoon) as well as days from the past.
To use the Visual_BT_Pivots for visual backtesting simply apply it to a chart then save the template as "tester". Then run any EA and you will see the pivot levels and labels displayed for each day, week or month. I modified the indicator to only display daily, weekly or monthly pivots not all three at once. Otherwise, there are too many lines and I don't like messes.
I have several indicators I use for Visual Backtesting, but few are as usefull as this. I hope that you find it as helpfull in creating a good system as I have so far.