FOREX indicator TzPivots
TzPivots MetaTrader Indicator - should be attached to the chart timeframe with H1 or below. This indicator will display the pivot point, as well as support and resistance lines for intraday trading. He counts them on his own formula based on the previous trading session. You can use these lines to enter and exit positions.
- LocalTimeZone (default = 0) - time zone of your server MT4/MT5. For example, if your server is in New York, then you should set this parameter to -5.
- DestTimeZone (default = 0) - time zone of the trading session in which you trade. For example, if you are trading in the London session, then you should set this parameter to 0.
- Other Options - modify the visual representation of the lines. Do not touch them.
If you are familiar with the pivot-points and support and resistance lines, the use of this indicator will not cause you any questions. The central pivot-point line is a high probability of reversal. Support and resistance lines are much less powerful than they are farther from the central pivot line. The weaker the line, the price will be easier to break it.TzPivots.mq4