DailyPivotShift_Full - MetaTrader 5 Script - MT4/MT5 Resource
The DailyPivot_Shift indicator differs from the common DailyPivot indicator in that the main levels can be calculated from the start of the day's shift. Therefore, levels can be calculated based on local time rather than server time (e.g. GMT-8). In addition, the indicator does not take into account information about Saturday and Sunday quotes when generating levels on Monday.
This variant of the DailyPivot_Shift_Full indicator can be calculated against any chart bar and makes it possible to clearly see the market behavior relative to the indicator levels for each bar. Obviously, this indicator is most useful when analyzing strategies in offline mode.
The indicator was first implemented in MQL4 and published in the code base of mql4.com on July 28, 2006.
Attachment download
📎 dailypivotshift_full.mq5 (19.09 KB)
Source: MQL5 #493
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