DislikedPivots, S/R are based on the previous weeks high and low. I would not expect those numbers to be significantly different. How big of a difference is there?Ignored
your weekly pivot is 86.106
my pivot is 87.493
Trend Manager Trading System 153 replies
trading system opposite to trend 1 reply
Dislikedgbp/usd has crossed weekly pivot and has hit the monthly pivot. Play gbp/usd to break the monthly pivot to go south OR if you think it will go up again use the EA to play for it to go back into an UT. My play is going to be to break the monthly pivot and go south.Ignored
DislikedHi Bob, for gbp/usd, both the H4 and Day TMA slope indicators show it is a ranging market (between 0.4 and -0.4). In your ebook, your rule no.1 mentions that when H4 slope is between 0.4 and -0.4, go to H1 or lower and catch the directional bias of the Daily histogram.
In this case, both H4 and Daily are ranging, should we stay away from it ?
Appreciate your time to clear my mind.Ignored
DislikedAnswer #2. When price is ranging using AL's techiniques from the extreme thread would fit perfectly and blend well with this system. Since he trades the lower charts every day following his advice would probably be much better than mine. When ranging go see AL when trending come back here. For me I work all day and am an administrator of a school. I simply miss too many trades to handle lower TF issues. That is why my systems are set around higher TF charts. So seeing Al on the lower TF would be a solid mix with my system.Ignored
Even I am getting significant difference in the pivot & SR values on different brokers. My alpari UK live account shows a difference of 30-40 pips from other brokers. I feel it has something to do with GMT time shift. Any idea how it can be resolved?Ignored
DislikedOK I need a pic of your screen of weekly candles with nothing else on the screen. I have to check the highs and lows because if the highs and lows are the same there should be no issue. If the highs and lows are different I have no idea how to solve the problem. To get a pivot point you take last weeks high + last weeks low + last weeks close and divide by 3 to set the pivot for the next week. If the candle is different because of the broker, I have no idea how to fix a problem like that. If the candles are the same then we will check into the issue....Ignored
DislikedOK I think we have fixed the problem of the histograms. What we did was take the Friday close figure instead of the Sunday/Monday open figure.Ignored
DislikedOK I need a pic of your screen of weekly candles with nothing else on the screen. I have to check the highs and lows because if the highs and lows are the same there should be no issue. If the highs and lows are different I have no idea how to solve the problem. To get a pivot point you take last weeks high + last weeks low + last weeks close and divide by 3 to set the pivot for the next week.Ignored
DislikedOn further pondering, if you wanted to use Friday night close rather than Sunday night close to calculate your pivots then you simply use the Friday close of any smaller time frame instead of the weekly candle close, because M1 to D1 all close Friday at the same time/price.
However, since the point of using weekly pivots assumes that price is to some extent depending on the rest of the world also seeing the same, or at least very similar pivots, then using Friday close will sometimes give you very different pivots from everyone else. There seems...Ignored
DislikedThe only other answer would be to take a certain time like 3:50 PM EST Friday and set the histograms and pivots at that point then everyones should be about the same. What do you think??Ignored
DislikedSince I would prefer to see pivots that are similar to what the rest of the world sees, then I would like histograms and pivots to be calculated off of the Sunday close, i.e. my brokers standard weekly candle for trading during the week.Ignored