Daily Pivot Points Indicator for MT4

The Daily Pivot Points Indicator draws horizontal lines that act as daily pivot levels R3, R2, R1, Pivot, S1, S2 & S3. These values of the Daily Pivot Points Indicator are calculated on a custom formula of an average of significant prices (high, low, close) of the previous trading session.

You will have all these levels plotted for each day (current and past). The best way for using that forex gauge is a reversal from these pivot points. The more powerful reaction from a level, the better.

When it comes to the available settings, the only input is the integer “ShiftHrs”, which gives the number of hours to advance the pivot day. A negative value delays the day for pivot calculation. For example, if your server is on New York time (GMT-5) and you want pivot points in London time (GMT), then ShiftHrs is set to +5 (the default in the code).


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