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Simple and useful indicator. Pivot Points are used to project potential support and resistance levels. The main time periods used are daily, weekly, and monthly pivots. The formula for the daily pivot point is shown below: Pivot Point P=(LastClose+LastHigh+LastLow)/3; Support Levels S1=2*P-LastHigh; S2=P-(LastHigh-LastLow); S3=(2*P)-((2*LastHigh)-LastLow); Resistance Levels R1=2*P-LastLow; R2=P+(LastHigh-LastLow); R3=(2*P)+(LastHigh-(2*LastLow));
With the powerful candle indicator you can find the powerful candle and powerful support an resistance. This indicator is very useful for your trading because you can see the important market movement and important price levels. When the powerful candles created around a price level, so this price level is very important or you can use this indicator for trend trading or reversal trading. This indicator is very useful for your me. Parameters: TotalBars MinChangePercent: recommended to use 0.15
MV Trend indicator finds the trend at the daily timeframe and shows the current trend in other charts. For example, trend at the daily timeframe = trend at the H4, H1, M3 .... M1 timeframes. When the MV Trend has found the trend at the beginning of the day, this trend is fixed for the current day. Input parameters MV_Trend – recommended to use 5 or 8 TotalBars – the maximum number of bars to be displayed ShowChange – daily percent change (please enable object description on your chart).