Daily Pivot Points shifted for different day start time – indicator for...

Daily Pivot Points shifted for different day start time – indicator for MetaTrader 4

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The extremely useful pivot points plotted and adjustable to your chosen time offset compared to official server time.

This indicator plots horizontal lines at daily pivot levels R3, R2, R1, Pivot, S1, S2 & S3, using a day that is advanced (or retarded) from the server time (called Pivot Day). You can see in the illustration, that the pivot lines start earlier than the server time days (except for the most recent day, because it was a weekend).

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).

Saturday and Sunday trading is not ignored (after all it was real trading). If the pivot day shift results in data appearing on Saturday, it was really Friday where it occured, so the indicator treats it as part of Friday. If the pivot day shift results in data appearing on Sunday, it was really Monday where it occured, so the indicator treats it as Monday.

It uses an indicator buffer for each line, so pivot levels of previous days remain visible. (This has a negative consequence: it is not possible to use the same technique to draw additional intermediate levels (S0.5, S1.5, etc.) because of the limit of 8 buffers.)

Labels are shown for the most recent day’s levels.

This indicator can be applied to any chart period, although daily pivots on charts with long periods are meaningless.

The formulae for the calculations are:

Pivot = ( High + Low + Close ) / 3
Range = High – Low
Resistance1 = 2 * Pivot – Low
Resistance2 = Pivot + Range
Resistance3 = Resistance1 + Range
Support1 = 2 * Pivot – High
Support2 = Pivot – Range
Support3 = Support1 – Range

MT4 Indicators – Download Instructions

Daily Pivot Points shifted for different day start time – indicator for MetaTrader 4 is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.

Daily Pivot Points shifted for different day start time – indicator for MetaTrader 4 provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.

Based on this information, traders can assume further price movement and adjust their strategy accordingly.

How to install Daily Pivot Points shifted for different day start time – indicator for MetaTrader 4.mq4?

  • Download Daily Pivot Points shifted for different day start time – indicator for MetaTrader 4.mq4
  • Copy Daily Pivot Points shifted for different day start time – indicator for MetaTrader 4.mq4 to your Metatrader Directory / experts / indicators /
  • Start or restart your Metatrader Client
  • Select Chart and Timeframe where you want to test your indicator
  • Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
  • Right click on Daily Pivot Points shifted for different day start time – indicator for MetaTrader 4.mq4
  • Attach to a chart
  • Modify settings or press ok
  • Indicator Daily Pivot Points shifted for different day start time – indicator for MetaTrader 4.mq4 is available on your Chart

How to remove Daily Pivot Points shifted for different day start time – indicator for MetaTrader 4.mq4 from your Metatrader 4 Chart?

  • Select the Chart where is the Indicator running in your Metatrader Client
  • Right click into the Chart
  • “Indicators list”
  • Select the Indicator and delete

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MT4 Indicators Download below:

Daily Pivot Points shifted for different day start time – indicator for MetaTrader 4

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