Pivot points help? | Forex Factory

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Pivot points help?

  • #1
  • First Post: Apr 27, 2010 2:36pm Apr 27, 2010 2:36pm
Are there universal pivot points on charts I have 3 diffrent MT4 accounts all with Different GMT settings now the pivot points are all different, and to top if of Forex.com shows there pivot completley different.

Does this mean that traders all over world see there pivot points at diffrent levels and if so how can i be sure that i am trading with the majority?

Is there a fix for this ? or is there a pivot point setting that the majority would use?
  • #2
  • Apr 27, 2010 6:36pm Apr 27, 2010 6:36pm
Quoting gio.gee
Are there universal pivot points on charts I have 3 diffrent MT4 accounts all with Different GMT settings now the pivot points are all different, and to top if of Forex.com shows there pivot completley different.

Does this mean that traders all over world see there pivot points at diffrent levels and if so how can i be sure that i am trading with the majority?

Is there a fix for this ? or is there a pivot point setting that the majority would use?
New York close is the standard for daily pivots as I understand it.

Google "daily pivot points forex" and cross-check yours with those on the first website in the results.
  • #3
  • Apr 28, 2010 1:41am Apr 28, 2010 1:41am
I did what you asked but a little confused when i google"daily pivot points forex" this in the UK it comes with all sorts of stuff
  • #4
  • Apr 28, 2010 3:03am Apr 28, 2010 3:03am
I didn't really want to post the URL because the website could be considered to be a competitor of FF, but here it is:

http://www.actionforex.com/technical...3205734/#daily

PS, only some pivot point indicators will allow you to alter the start time from which the pivots are calculated. I have attached the ones that I use.
Attached File(s)
File Type: mq4 Auto-Pivot Plotter V1-41.mq4   14 KB | 955 downloads
  • #5
  • Apr 28, 2010 3:18am Apr 28, 2010 3:18am
Quoting birdt
New York close is the standard for daily pivots as I understand it.
This is also my understanding of what most people use. However, to understand how to calculate them for yourself I would suggest Babypips.com and their explanation gives clarity about what pivot points are and why they are significant. Personally, I do not use them much because support and resistance has so many parameters and I find it easier to stick to one method, in my case horizontal support and resistance on monthly, weekly, down to hourly levels.
Gone to a better place
  • #6
  • Apr 28, 2010 2:04pm Apr 28, 2010 2:04pm
thanq for your help i will try to calculate myself
  • #7
  • Apr 28, 2010 4:53pm Apr 28, 2010 4:53pm
NY close is most important, I make sure my pivots match actionforex.com,

Pivot Points play a big part of my strategy, this is my favorite pivot and is closes to actionforex numbers, and its timezone adjustable.

http://www.forexfactory.com/showthread.php?t=189541

and if you want to learn more about pivots, follow this man, he is the master of pivot point trading!!

http://www.forexfactory.com/showthread.php?t=88949
  • #8
  • Apr 28, 2010 5:08pm Apr 28, 2010 5:08pm
Quoting gio.gee
Are there universal pivot points on charts I have 3 diffrent MT4 accounts all with Different GMT settings now the pivot points are all different, and to top if of Forex.com shows there pivot completley different.

Does this mean that traders all over world see there pivot points at diffrent levels and if so how can i be sure that i am trading with the majority?

Is there a fix for this ? or is there a pivot point setting that the majority would use?
The only pivot you need to concern yourself with are Whole Number pivots.
Any price number that end in 00 or 50 is considered a major S/R level.
If you don't believe me, take a look at EurUsd on the Hourly and you"ll
see price tends to reverse on those levels, slows down near those levels, or
fly right through those levels.

With Whole Number pivots, you don't need to visit some site or workout some
equation to get the S/R levels. With whole numbers, all you need to do is to
be aware of price action when it nears a 00 or 50 number. The problem with
visiting a website for pivot levels is every site will have different level, some
completely different than others. With Whole Numbers everything is unformed
and many traders trades these psychological values.
  • #9
  • Apr 29, 2010 4:17pm Apr 29, 2010 4:17pm
i never really used pivots before but i have to say they do work
  • #10
  • May 1, 2010 3:32pm May 1, 2010 3:32pm
Quoting gio.gee
Are there universal pivot points on charts I have 3 diffrent MT4 accounts all with Different GMT settings now the pivot points are all different, and to top if of Forex.com shows there pivot completley different.

Does this mean that traders all over world see there pivot points at diffrent levels and if so how can i be sure that i am trading with the majority?

Is there a fix for this ? or is there a pivot point setting that the majority would use?
Key reference points undoubtedly exist. For them accounts on the period from D1 to W (21.00 GMT) are actual. Levels on periods H3 (21.00-00.00 well work; 00.00-03.00 and further). For accounts I use the calculator in "Excel". It allows to save the data and to analyze history. The given process is very important in formation of the trader. And understanding what levels are fulfilled by the majority. Yours faithfully! Good luck!
  • #11
  • Last Post: Jun 20, 2010 12:43pm Jun 20, 2010 12:43pm
Hi everyone,

Is anyone else using THE Fibonacci Pivot points?

R3 = Pivot + 1.000 * (H - L)
R2 = Pivot + 0.618 * (H - L)
R1 = Pivot + 0.382 * (H - L)
Pivot = ( H + L + C ) / 3
S1 = Pivot - 0.382 * (H - L)
S2 = Pivot - 0.618 * (H - L)
S3 = Pivot - 1.000 * (H - L)

A great Trader on a other forum wrote:

"Pivot point with Fibonacci res/sup
This indicator shows Daily Pivot point with resistance and support levels calculated using Fibonacci.
It's astoundingly accurate."


Its also the same Cobra is using:
http://www.forexfactory.com/showpost...&postcount=152


Thanks & Cheers
Follow the Trend, thats all
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