Pivot indicator needed

Hey all! I've been looking for weekly and monthly pivot indicators that use the classic formula. Something that uses 'high, low and close' to calculate. Needs to match the pivots on http://www.actionforex.com/markets/p...2010040848154/
I've been scouring the net for hours and can't find one!
Anyone know where I can get one? Cheers!

Assuming you're using MT4, there's lots of pivot indicators in the threads here and here (might need to be modified to compile on the new MT4) and I just noticed this here. Hope you find something that suits.

Thank alot man!

Feel free to give this one a go. It uses the standard pivot point formulas on the page you linked too... I know that because I used it yesterday to check the formulas!

However, please be aware of broker variations. Here is the same indicator applied on 2 different data feeds (note: displaying the price is an option in the indicator settings)

Numbers don't match! Thanks everyone for posting by the way! Maybe I should just pick the prettiest one and get on with it!
One last try! Anyone got one that's gmt?

I'm starting to think that if most people are using the numbers you guys have provided me with, those levels are probably more likely to hold but I've been plotting my own using calculators and 'actionforex.com' and it's been pretty reliable!
Thanks again everyone for your help!!

As I said above, unless you have access to exactly the same datafeed you will get variations.

Have you tried plotting their numbers against any of the indicators?

There is a fairly major discrepancy between actionforex's weekly low and my 2 brokers (about 40 pips):


Nevertheless, the differences around the pivots isn't that huge (more so as you move away). The magenta lines are actionforex manually plotted.


There are minimal differences between actionforex's monthly numbers and my brokers:


And see how close the monthly ones were on the previous screenshot.

For what it is worth, I've always considered pivots as areas rather than lines in the sand, for exactly this reason.

Me too mate! Areas as opposed to exact levels! My problem is I have a mate who trades and uses a pivot indicator which he gave me a copy of. His pivots are usually very close to the ones I mentioned on 'action forex' but when the market gaps over the weekend the difference can be huge. Last week there was something like a 140 pip difference between our wr2 pivots. That's a pretty big area! At first I thought his indicator was using the current weeks open instead of the previous weeks close to calculate but now I'm just lost!

Btw I'm really looking for a weekly indicator I can use on the 4 hour chart. Like you said, as you zoom out the gap gets bigger!

Tricky this!

Well, you only really have 3 options:
1. Accept the variations;
2. Switch brokers to match the server time of actionforex and accept some minor inevitable differences in prices between brokers;
3. Find or code an indicator with a GMT offset, and still accept the minor inevitable differences in prices between brokers.

Ok, I'm probably just confusing matters by not being specific enough so here's a screenshot of the pivots I got using a h/l/c calculator to plot last weeks pivots from the previous weeks data. When we hit the weekly main pivot stochastic was oversold. If you waited for a 10/20 ema cross on the 30 minute chart to go long you could have bagged around 250 pips (not that there's massive relevance in that last point, I just thought I'd share it with you!)
Anyone using a pivot indicator that matches these lines?

Ja know, I plot my monthly pivots on the first of every month using a calculator and I'm so used to doing it, it only takes a few minutes for every pair!
Mabey I should just stop being lazy and spend a half hour plotting the weekly's on a Saturday night manually! Would cut down on errors too!

I'm gonna do it! I'm gonna stop being a bitch 'n do it!
Thanks again everyone who helped!!

Hello AdyFMP,

I think you're missing what we're trying to say. You're looking for an indicator that will give you the same results as published on actionforex's website.
The formulae that actionforex uses are given on their website:


Many of the pivot indicators available use exactly those formulae.

The problem is not coming from the indicator, the problem is coming from the information that is being fed into those formulae.

This is caused by:
1. Broker time zone; and
2. Broker variations

So, the easy option is try to find a different broker that gives you high/low/close similar to those published on actionforex... that will mean matching time zones at the very least.

If the high/low/close values of your weekly and monthly candles don't match actionforex, you will not get the same values.

You can see the values that your broker uses by opening up a weekly/monthly chart, opening up the data window:



Now hover your mouse over the penultimate candle and read off the values in the data window and compare them to action forex:





The values that you see in the data window are the values that any normal indicator you apply will use.

If you want to use different times from those set by your broker, you need a custom indicator that will rebuild the data from lower timeframe bars to match your requirements. You may find one already done which could suit your needs.

Good answer knave! Thanks!

If you are prepared to enter the High, Low and Close prices manually, this indicator will calculate and draw the pivots to those prices.

Perfect! I'm gonna have to download and try it later, going out now but it looks like exactly what I'm after!
Thank you very much!!

Thank, Brother, honestknave....

Knave you're a genius! I've downloaded your indicator and setup a template with a 50, 100 and 200 ema visual on the H4 and higher timeframes, a 10 and 20 ema visual on the 30m and H1 timeframes for confirmation, stochastic, macd and two of your pivot indicators, one with only weekly pivots visual on the H4 and one with only monthly pivots visual on the daily and above charts!
I trade 12 instruments and all I have to do is input three numbers for each pair per week and the work's done for me!
You're an absolute star!!