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Daily Direction Line

The Daily Direction line makes a pivot (HLC/3) of any preferred hours during a day. For example you want the average price (pivot) of the price 2 am to 6 am (your broker time). Then set 2 as start hour and 6 as stop hour. Some adjustments is needed if your broker apply to summer/winter time. But since the line is visual, is easy to correct.

Now the indicator will take the highest, lowest and close price and divide by 3. That average price becomes the daily direction line. You can set any hour between 0 and 23.

The indicator will draw a blue line on your chart between the times you set. Simple set your "Hour to start" and "Hour to stop". You can also change the color of the average line.

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