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TzPivots
TzPivots MetaTrader indicator
should be attached to the H1 or lower timeframe chart. This indicator will display
the pivot points and support and resistance lines for the intraday trading. It
calculates them by its own formula based on the previous trading session. You
can use the resulting lines as entry and exit points. The indicator also outputs
all the data into the MetaTrader global variables, which can be accessed by any
expert advisor on the terminal. TzPivots is available for MT4 and MT5.
Input parameters:
- LocalTimeZone (default = 0) the timezone of your
MT4 or MT5 server. For example, if your server is in New York you should set this
parameter to -5.
- DestTimeZone (default = 0) the timezone of the
trading session you are using to trade in. For example if you trade in London
set this parameter to 0.
- Other parameters modify the visual representation
of the lines. Don't change them.
If you are acquainted with the pivot points and support and resistance lines
using this indicator will be easy for you. The central pivot line bears a very
high chance of reversal. The support and resistance lines become less strong
the farther they are from the central pivot line. The weaker the line is the
easier it is to break.
Downloads:
TzPivots for MetaTrader 4 in .zip
TzPivots for MetaTrader 4 in .mq4
TzPivots for MetaTrader 5 in .zip
TzPivots for MetaTrader 5 in .mq5
Discussion:
Warning! Before you ask any basic questions regarding installation of
the indicators, please, read this
MetaTrader 4 Indicators Tutorial or MetaTrader 5 Indicators Tutorial
to get the elementary knowledge on handling them.
Do you have any suggestions or questions regarding this indicator? You can
always
discuss TzPivots with
the other traders and MQL programmers on the indicators forums.
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