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MT4 indicator to display yearly, monthly, & weekly high/low data 6 replies
I got edge. What now? Yearly ROI: 132,000,000% 9 replies
Need Help: Monthly, Quarterly and Yearly Profits Breakdown 6 replies
Weekly, Monthly and Yearly Range Calculator !!! Programmer Needed !!! 11 replies
DislikedGuess you're using the wrong formula . I have great results w/ daily pivot points on intra-day charts using the standard (H+L+C)/3 formula, with the daily bar start set to midnite GMT. The pivot itself isn't as useful as the R1/S1 and R2/S2 lines, along w/ their midpts, are. What pair are you trying them on?
Anyway, didn't want the thread to die on a nasty note. Ditching the sunday bar from the weekly candle is a good idea.Ignored
QuoteDislikedHave you done any testing to show the accuracy of pivots? If so, could you post it? Why would you skip market data? Sunday night to you is Monday mornig to someone else. Their trading activity doesn't count to everyone who can read a chart? How can the R and S lines be more accurate than the pivot itself since they are simply derrivitives of the original formula?
QuoteDislikedPivots draw 7 lines on a chart (more if you use multiple time frames). How could price not temporarily touch 1 or more lines?
QuoteDislikedTo make pivots work they would have to be "self fullfilling" but since you guys can't agree on a formula or even when midnight occurs I seriously doubt they have any effect on the market.
QuoteDislikedSorry if I hurt your feelings. I would rather that happen than have others actually believe that pivots had some meaning.
QuoteDislikedYou're using midpoints as well? Isn't that nice. Instead of 7 lines, you have 11 lines on your chart. Yeah price is going to hit one of them. I would love to see your EURUSD chart for today.
QuoteDislikedThe market dries up every day around 1100 ET. Don't kid yourself and think that one of your 11 lines has anything to do with that.
DislikedI will just let this attachment answer all the questions posted in this thread so far.
Given all the volatile news we had today.Ignored
QuoteDislikedWhat did you answer? Price went up today and then it went down. It didn't come close to touching any of your pivot lines.
QuoteDislikedIt faded back to R2 for about 15 minutes, then went back to R1/R2 midpt. As you can see from the candle time indi the hourly bar had 2 minutes left, it ended perfectly at the R1/R2 midpt. If I had to speculate on it's eventual decline I'd say it'd probably head back to yesterday's high, maybe fall back into a range around the axis. I don't know really there tho, and don't care to know, as that's not how I trade.
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That was a few hours ago. I was talking about the cable on the hourly. Anyone care to take a guess at what happened? Hehe, dropped right back down, past the high and fell into a range around the axis. Spot-on. Anyone that says you can't predict intra-day movements is full of crud.
Ignored
QuoteDislikedAnyone can can guess at what already happened. If you can really predict price movement beyond knowing that price will stop, go past, or bounce off of one of many lines, then you have a rare talent.
DislikedI think pivot points are total crap. Even your own chart shows no respect for the guesses that pivots offer.
In a market that trades 24/7 how can you define a "new day?" There are at least 4 different formulas for pivots. Which one did you use?
I would take trading advice from the tooth fairy before I put money on a pivot.Ignored
QuoteDislikedGuys as I explained earlier the secobd chart i posted uses the standard weekly pivots that i use for day trading.
QuoteDislikedSecond smaller image is from last week also eurusd. Price came down to the yearly pivot held for a while and then reversed.
QuoteDislikedI think its you that don't make any sense!!! what do you think traders used before all this electronic trading began, and they made money doing it!!! Do you reasearch before you jump to stupid conclusions!!!