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Pivot point, which one should I believe?

  • Post #1
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  • First Post: Sep 19, 2011 11:33am Sep 19, 2011 11:33am
Hi, I've recently tried demo accounts, on a few different brokers. and I found something very very interesting. Please have a look at these charts. it is the exact same indicator, 3 different brokers from 3 different time frames result in 3 totally different levels. this raise a very important question, should I believe in this indicator at all? If anyone can enlighten me please even for just a bit, it would be great, thanks
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OK, ill tell you like this:

if i were to use daily pivots (and i don't), i would think logically about this for a moment.

people always argue what time a daily pivot should start. but think really hard about it. forex is open 5 days a week 24 hrs exactly. so this means that there are five equal days a week in forex from Sunday 5 pm EST to Friday 5 pm EST. So when do you think i will start a pivot for daily pivots? 5PM EST/00:00 GMT+2! also, if you notice, that's rollover for spot forex also. so that's where I'd start daily pivots. basically 00:00 GMT+2

but if you don't want to find adjustable pivots that can start at that time, just use weekly pivots. they should be all the same, +/- a few pips depending on a brokers feed.

should you use any of them? no lol you need to look at price pivots on the charts. they're everywhere in every market. you'll have to research that one yourself.
hehehehhe .........

if u have 100 broker......... u will have 100 different pivot. why ? their server time is different between one to another.

for simple ...just check your 4H candle ............they will be different also...

hope u got the idea behind ...


Quoting Nobiet
Hi, I've recently tried demo accounts, on a few different brokers. and I found something very very interesting. Please have a look at these charts. it is the exact same indicator, 3 different brokers from 3 different time frames result in 3 totally different levels. this raise a very important question, should I believe in this indicator at all? If anyone can enlighten me please even for just a bit, it would be great, thanks
not euphoria follower
Quoting Nobiet
Hi, I've recently tried demo accounts, on a few different brokers. and I found something very very interesting. Please have a look at these charts. it is the exact same indicator, 3 different brokers from 3 different time frames result in 3 totally different levels. this raise a very important question, should I believe in this indicator at all? If anyone can enlighten me please even for just a bit, it would be great, thanks
use this

http://www.livecharts.co.uk/Members/...rex_pivots.php

or this

http://www.actionforex.com/markets/p...2010040848154/
I use this http://www.pivotpointcalculator.com/

I like to know exactly what data goes into the calculation. As others have said, different brokers will quote slightly different prices. This is the nature of an over the counter market, countless little markets all over the place. They are generally in line with one and other but if one of the extremes of the day (high or low) is a fast spike (like news spike or something) then you may get huge discrepencies between brokers, sometimes 50+ pips. By using the calculator I know exactly what price was used for the calculations and why.

Also, use 5pm new york as the switch point. This is the most widely accepted switch point time so the pivots derived from it will have the most attention from market participants.

How to use them? Thats a whole new can of worms that will take you a very long time to get right.
  • Post #6
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  • Last Post: Sep 23, 2011 3:58am Sep 23, 2011 3:58am
Quoting iqyu5an
hehehehhe .........

if u have 100 broker......... u will have 100 different pivot. why ? their server time is different between one to another.

for simple ...just check your 4H candle ............they will be different also...

hope u got the idea behind ...
Yes this really right server time is different and each one have his own way of thinking so it will definitely vary.
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