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Similar to regular Pivot Points but Pivot Line is calculated with more weight to the closing price. Pivot Points is a method for calculating support and resistance levels. Resistance and support levels indicate where a major price movement is expected. As a trend indicator, it indicates an upward movement, for instance, if the pivot point price is broken in, then the market is bullish, and vice versa. Pivot points are short-term trend indicators, however and therefore useful for only one day. The second method is to use pivot point price levels to enter and exit the markets.
MAMA stands for MESA Adaptive Moving Average. It is a strong moving average indicator that adjusts itself to up/down cycles. It consists of a pair of lines, MAMA and FAMA that give buy/sell signals. When the MAMA crosses above the FAMA a buy signal is given. Alternatively, when the MAMA crosses below the FAMA a sell signal is given.
The most common method in calculating pivot points is the 5 point pivot system.
This indicator calculates and display pivot levels for daily, weekly and monthly timeframes.
-Works on all timeframes
-Paramterable display of daily, weekly and monthly pivots
Half the secret to being successful in the ForEx markets is timing. I haven't seen a reliable market hours indicator posted here, so here is my verison. Opening and closing times for the New York and London markets are based on 8 to 5 business hours. Opening and closing times for Sydney and Japan are based on 9 to 5 business hours. Some people use 6pm close time for Tokyo and some use a 4pm close time for Sydney. However, did you know that ForEx trading hours are not based on corresponding stock markets close times? They are based on investment banking business hours. You can set the hours as you like within the indicator. Many beginers think once you convert the business hours to local time that you will have the market hours all figured out, but its not that simple. Did you know that Daylight savings starts on different days in London and New York. So there is a period in March where opening time in New York is at 12pm instead of 1pm. Did you know Daylight savings in Austrailia is reverse that of New York so that opening times shift 2 hours instead of one between the winter and summer months, leaving a 2 hour gap between the New York close and the Sydney open? Do you know which timezone your broker is using and how it affects the conversion? Well all that is taken care of with my handy dandy market hours indicator! WooHoo!
The markets are color coded and I assigned the market hour value to the result so you could better visually see as markets are coming to a close and execute trades based on specific hours. Make sure you comment out the LocalTime zone which does not apply to you. cTrader brokers seem to be using either Cyprus time or UTC Local Time Zones. Hope it helps!