The FX AlgoTrader Daily Pivots V3 indicator for Metatrader provides a highly configurable time shiftable daily pivot calculation engine for forex traders using Metatrader's MT4 fx trading platform. The V3 Daily Pivot indicator incorporates the time shiftable calculation found within the version 2 range with the following enhancements:-
Full Forex Pivot Array (M0-M5,S3-R3)
The V3 indicator provides a wider forex pivot array which incorporates 4 additional levels - S3,M0,M5 and R3.
Multiple Independent Forex Pivot/Price Proximity Alert System
The V3 system has independent alerts for each forex pivot level. This allows traders to configure audible alerts when price action is within a specified range of any pivot level. The pivot alerts are independent so it is possible to set an alert for every pivot level ie. 13 simultaneous price proximity alerts.
When a forex pivot is configured with an active alert the system automatically changes the pivot labelling system by adding an (A) suffix to indicate the alert is enabled.
Options for previous days high/low
The previous days highs and lows for a forex pair are key technical levels and provide price reaction points which many traders watch carefully. As a result all forex traders should be aware of these levels and the V3 Daily Pivots indicator automatically displays these pivot levels on the chart.