General – getting started
The Dynamic Price Pivots indicator has been designed and developed to help you take advantage of leading price action in several different ways. We call it dynamic because that’s what it is, dynamically signalling changes in sentiment at the live edge of the market using a three candle pattern. If the centre candle has lower highs and lower lows than the candles on either side, then a pivot low is triggered, and conversely, if the centre candle has higher highs and higher lows, the a pivot high is formed. The indicator is triggered on the close of the candle.
The Dynamic Price Pivots indicator, can be used in several different ways, which is why we refer to it as the ‘Swiss Army Knife’ of trading indicators – a simple yet powerful indicator.
First, the indicator can be used to identify changes in market sentiment, as the market ebbs and flows from bullish to bearish and back again. Second, the indicator can be used to identify support and resistance regions as they build in realtime. The pivot highs and the pivot lows define the floor and ceiling of support and resistance dynamically. Finally, the pivots can also be used to define the upper and lower regions of trends, again, as they build dynamically.
The Dynamic Price Pivots indicator is not an entry or exit signal indicator, but one that is used with a variety of others, including volume, to help define the market state in realtime. Are you in a congestion phase which is building, or a trend which is developing. The Dynamic Price Pivots indicator will help to tell frame the market conditions, which you can then confirm with all your other trading indicators.
- The Quantum Dynamic Price Pivots indicator works in all timeframes
Installation
Open your MT4 platform and in the top level navigation:
- Left click >View
This will open the following window:
- Left click > Navigator
This will open the following window:
- Left click > + icon alongside Custom Indicators
This will open the following window:
- Left click and HOLD – drag the QuantumDynamicPricePivots indicator to a chart, and RELEASE
This will then display the following window. This is where you can configure all the various user settings for your currency strength indicator. To move from one tab to another simply left click on the grey tab to select the appropriate window.
Common Tab
The Common tab displays two boxes. Both of these should be checked as shown. This ensures that you have enabled the DLL imports as explained in the installation instructions.
Inputs Tab
Offset
The offset function allows you to control where the pivot appears in relation to the top or bottom of the candle or bar. The default value is 30.0. A higher number will move the pivot further away from the candle or bar, whilst a lower number will move it closer. To Value can be changed as follows:
- Double left click alongside the offset in the Value field
- The Value field will change to white – enter a number such as 20.0 to move them closer, or 40.00 for further away
Sound Alerts
You can use this parameter to toggle on and off sound alerts which would ring every time new arrows appear.
Colors Tab
The default colors and settings are defined by field # 0, and 1. #0 is for the pivot low, and #1 is for the pivot high. The colors can be changed as follows:
- Double left click alongside the pivot you wish to change in the Color field
- Left click on the drop down arrow and a color menu will appear
- Select your preferred color which will then appear as your selection
The size of the Dynamic Pivots can also be changed. The default is size 1 in the Width field, ( the smallest) but the pivots can be made larger as follows:
- Double left click alongside the pivot you wish to change in the Width field
- Left click on the drop down arrow and a menu will appear with widths from 1 to 5
- Select your preferred size (1 is the smallest, 5 the largest) which will then increase or decrease the size of the pivot accordingly. You can set the pivot low and pivot high to different values if you wish
Levels Tab
There are no user inputs for the indicator.
Visualization Tab
These are the default settings for MT4. There are no user inputs for the indicator.
When you are happy with all your changes…
- Left click the OK button at the bottom of the window, and your QuantumDynamicPivots indicator will be applied to your chart
At this point your Dynamic Pivots indicator will look something like this:
Finally, to remove either or both indicators from your chart:
- Right click on the chart and the following pop up window will appear:
- Left click on Indicators List from the above menu and the following menu will appear:
- Left click the indicator, and then left click the Delete button on the right
