Author: MetaQuotes
The DailyPivot_Shift indicator offers a fresh take on the conventional DailyPivot indicator by allowing you to calculate key levels based on your local time settings. This is particularly useful for traders in different time zones, such as GMT-8, as it provides a more accurate reflection of market activity.
One of the standout features of this indicator is that it doesn’t factor in Saturday and Sunday quotes when generating levels on Monday. This ensures that your analysis starts from the most relevant data, giving you a clearer picture of the market dynamics as the week kicks off.
Additionally, the DailyPivot_Shift_Full version can be applied to any chart bar, allowing traders to observe market behavior in relation to indicator levels across different time frames. This can be especially beneficial when you're analyzing your trading strategies in offline mode, providing valuable insights into past performance.
Originally developed in MQL4, this indicator was first shared on Code Base at mql4.com on July 28, 2006.
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