# Pivot Panther EAPivot Point (MT4)

Free

## Principle of operation

The Pivot Panther trades a BreakOut of the PivotPoints. He only uses PendingOrders. The PivotPoint are calculated for each new Candle. You can choose between 8 different Support and Resistens Levels. The system works best on H4 and D1 Timeframes.

## Parameters for the Pivot Point

Level = Choose 1 from 8 different support and resistance level (default is 1)

Level support resistance
1 S1 R1
2 S2 R2
3 S3 R3
4 M0 M5
5 M1 M4
6 M2 M3
7 L3 H3
8 L4 H4

### The Calculation of the Pivot Point Levels

Q = (yesterday_high - yesterday_low)
P = (yesterday_high + yesterday_low + yesterday_close*2) / 4

R1 = (2*P)-yesterday_low
S1 = (2*P)-yesterday_high
R2 = P+(yesterday_high - yesterday_low)
S2 = P-(yesterday_high - yesterday_low)
R3 = (2*P)+(yesterday_high-(2*yesterday_low))
S3 = (2*P)-((2* yesterday_high)-yesterday_low)

H4 = (Q*0.55)+yesterday_close
H3 = (Q*0.27)+yesterday_close
L3 = yesterday_close-(Q*0.27)
L4 = yesterday_close-(Q*0.55)

M5 = (R2+R3)/2
M4 = (R1+R2)/2
M3 = (P+R1)/2
M2 = (P+S1)/2
M1 = (S1+S2)/2
M0 = (S2+S3)/2