Pivot on Candle of the Day
- Indicators
- David Ben Svaiter
- Version: 2.0
How many times have you looked for a PIVOT that works on a specific candle every day?
Many traders like to estimate the direction of the day's trend based on a specific time each day, such as 30 minutes after the market opens, or at 12 noon, and so on.
This indicator allows you to specify a certain time (hour and minute) and plots a pivot from that time to the next day at the same time. It shows five lines based on that specific candle/hour: median, maximum, minimum, support and resistance.
If the chosen time is outside the PERIOD limits (such as 10:12 on an M5 timeframe), it rounds this value up to the time of the nearest candlestick. In addition, it allows the user to configure all the lines in style, color and width.
I hope you get good trades with it.
And if you need a PIVOT based on a time range, see our other products.
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