This is the best indicator iv used and im sure its gona change the way you trade, can be used as support and resistance trend, and for entry and exits
How it works: uses the traditional main pivot only.
New version with fix by TheLark, now works in lower timeframes too.
//Version 1.1 fix
//Glaz.
study(title="Glaz Daily Pivot Line", shorttitle="Glaz DP", overlay=true)
TradingHours = input(24)
min = TradingHours * 60
pivot = (high + low + close ) / 3.0
dtime = security(tickerid, 'D', pivot)
offs = isintraday ? round(min / interval) : 1
plot(offset(dtime,offs), color=green,linewidth=3)
How it works: uses the traditional main pivot only.
New version with fix by TheLark, now works in lower timeframes too.
//Version 1.1 fix
//Glaz.
study(title="Glaz Daily Pivot Line", shorttitle="Glaz DP", overlay=true)
TradingHours = input(24)
min = TradingHours * 60
pivot = (high + low + close ) / 3.0
dtime = security(tickerid, 'D', pivot)
offs = isintraday ? round(min / interval) : 1
plot(offset(dtime,offs), color=green,linewidth=3)