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Pivot Trading

  • #36,521
  • Apr 15, 2020 9:30am Apr 15, 2020 9:30am
I've been having !SM_ADR_Marker.ex4 on my charts over a week now and to be honest I can't see any value of it. It starts every day from the start of the day and is showing 5 day ADR? Those ADR high and ADR low should act like resistance and support? Why? What is the logic behind this?
  • #36,522
  • Apr 15, 2020 9:48am Apr 15, 2020 9:48am
Quoting 1pipperhour
I've been having !SM_ADR_Marker.ex4 on my charts over a week now and to be honest I can't see any value of it. It starts every day from the start of the day and is showing 5 day ADR? Those ADR high and ADR low should act like resistance and support? Why? What is the logic behind this?
Well, at the moment we do have irregular market conditions so its use is somewhat lessened, for example today every USD pair has blown right through the 5 day ADR ...

Normally however it does show you the average range of trades over the last 5 days so if you are in a trading in a smooth market (if there is such a thing anymore!) the idea of this indi is you can see if your pair is approaching the distance of the ADR, so you should pay attention to possibly getting out of that trade (unless you are trading swings of more than one day of course). I find it easier to visually picture the ADR with this than to look at the old number in the top right corner and have to measure that number of pips on my chart.
  • #36,523
  • Apr 15, 2020 9:52am Apr 15, 2020 9:52am
Today I made a couple of trades on AC and GU, for this last one I left on the table more than 100 pips , I know it's after the fact but it's annoying.
On another side, even if we don't trade CHF I'd like to post this only to remark the surgical precision of weekly pivots, from WS61 up to WPP and down again from there.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDCADM30.png Size: 52 KB
Click to Enlarge Name: GBPUSDM15.png Size: 48 KB
Click to Enlarge Name: USDCHFH1.png Size: 41 KB
Porta itineris dicitur longissima esse
  • #36,524
  • Apr 15, 2020 9:56am Apr 15, 2020 9:56am
Quoting Nostromo
{quote} Well, at the moment we do have irregular market conditions so its use is somewhat lessened, for example today every USD pair has blown right through the 5 day ADR ... Normally however it does show you the average range of trades over the last 5 days so if you are in a trading in a smooth market (if there is such a thing anymore!) the idea of this indi is you can see if your pair is approaching the distance of the ADR, so you should pay attention to possibly getting out of that trade (unless you are trading swings of more than one day of...
Thanks for the explanation.
But the old one on my chart is showing today, yesterday and 20 day. So why now 5 days? It changed from 20 because of the market irregularity? Why not 7 days, full week?
  • #36,525
  • Apr 15, 2020 10:10am Apr 15, 2020 10:10am
[quote = 1pipperhour; 12878429] {quote} Danke für die Erklärung. Aber der alte auf meiner Karte zeigt heute, gestern und 20 Tage. Warum also jetzt 5 Tage? Es hat sich von 20 wegen der Marktunregelmäßigkeit geändert? Warum nicht 7 Tage, ganze Woche? [/ Quote]

oh, have you ever read through from page 1? did you invest time? otherwise such questions would not come
the highest point comes before the fall
  • #36,526
  • Edited 10:43am Apr 15, 2020 10:31am | Edited 10:43am
Quoting Pivoter
[quote = 1pipperhour; 12878429] {quote} Danke für die Erklärung. Aber der alte auf meiner Karte zeigt heute, gestern und 20 Tage. Warum also jetzt 5 Tage? Es hat sich von 20 wegen der Marktunregelmäßigkeit geändert? Warum nicht 7 Tage, ganze Woche? [/ Quote] oh, have you ever read through from page 1? did you invest time? otherwise such questions would not come
To answer your questions, then:
Nein
Nein
OK

So, wise guy. Answer to my question then, if you've read the first page.
Amuse me.
  • #36,527
  • Apr 15, 2020 10:59am Apr 15, 2020 10:59am
Quoting 1pipperhour
{quote} Thanks for the explanation. But the old one on my chart is showing today, yesterday and 20 day. So why now 5 days? It changed from 20 because of the market irregularity? Why not 7 days, full week?
It was changed to 5 days because that gives a more relevant recent figure, this thread has moved towards more short-term trades at the moment, especially given the extra unpredicatablity due to Covid-19, so you see fewer people doing multi-day swing trades, far less holding over the weekend and mostly intra-day.

Try this top left corner ADR indi, I switched to this one at the same time as !SM_ADR_Marker.ex4 (credit to Pivoter who posted this indi for me)
Attached File(s)
File Type: ex4 ADR_v2.ex4   11 KB | 711 downloads
  • #36,528
  • Apr 15, 2020 11:19am Apr 15, 2020 11:19am
Quoting bubincka
Today I made a couple of trades on AC and GU, for this last one I left on the table more than 100 pips , I know it's after the fact but it's annoying. On another side, even if we don't trade CHF I'd like to post this only to remark the surgical precision of weekly pivots, from WS61 up to WPP and down again from there. {image} {image} {image}
Hey Bubincka,

I have seen this handy indi on your charts since I have been using Davit's method but have never been able to load it. What is it? Thought it was the CloseAll and CloseSimple indis you have posted before but those I think are for immediate close positions rather than a indi you see on charts? Thanks
Attached Image
  • #36,529
  • Apr 15, 2020 1:40pm Apr 15, 2020 1:40pm
Quoting 1pipperhour
I've been having !SM_ADR_Marker.ex4 on my charts over a week now and to be honest I can't see any value of it. It starts every day from the start of the day and is showing 5 day ADR? Those ADR high and ADR low should act like resistance and support? Why? What is the logic behind this?
For me it's one of those indis that you can use but is not necessary. However, for short term trading it can be useful.

As far as resistance and support it is useless since the prices in which it starts the day are not set to stay. Both move depending on actual price movement of pair. Example: Start of day lets say top price is 1000 bottom 500 and adr is 200, if price only move up once 200 pip adr reached prices will be at 1200 and 700 on the ADR Marker not the original 1000 and 500. So be careful with that.

One good feature is that you can visually see an ADR Marker that you can use once price heads strongly towards it. Usually, once close enough, it will reach it. And once it overshoots it, you can do a quick scalp back towards ADR. Check today UC. Again usually, just like any other factor in forex...Anything Can Happen.
Invest in Life
  • #36,530
  • Apr 15, 2020 2:13pm Apr 15, 2020 2:13pm
Personally I prefer to use the round numbers indi for short term it is super accurate, price likes these numbers, just look at all those touches. Nostromo Pivots to keep chart clean and RN to gauge in between pivots. Added MA for visual, but will give it a go for now. I want to train my eyes to see these things without use of indi.
Attached Image (click to enlarge)
Click to Enlarge Name: Round numbers .png Size: 59 KB
Invest in Life
  • #36,531
  • Apr 15, 2020 2:40pm Apr 15, 2020 2:40pm
Quoting 1pipperhour
I've been having !SM_ADR_Marker.ex4 on my charts over a week now and to be honest I can't see any value of it. It starts every day from the start of the day and is showing 5 day ADR? Those ADR high and ADR low should act like resistance and support? Why? What is the logic behind this?
Did you spend equal time on calendar charts? Seems no brainer you dont like something dont use it.
Its called confluence there are many ADR Trend lines round numbers shapes etc.None by themselves are trade signals but do add to the EDGE

One thing I know when a system does not do exactly what you expect people jump ship
Not saying you but that's common behavior.Issue is not the system but the user.
cheers
In trading, you have to be defensive and aggressive at the same time
  • #36,532
  • Apr 15, 2020 2:49pm Apr 15, 2020 2:49pm
General weakness of CAD is obviously crude dropping all time low since 2002
Did we hit bottom? Maybe.OPEC cuts starts at May

Minor gains on EU not worth posting
In trading, you have to be defensive and aggressive at the same time
  • #36,533
  • Apr 15, 2020 7:18pm Apr 15, 2020 7:18pm
Feel dancing? One of the best from 80's
Inserted Video
In trading, you have to be defensive and aggressive at the same time
  • #36,534
  • Apr 15, 2020 7:32pm Apr 15, 2020 7:32pm
Road to success by self
Storms ahead
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 875 KB
In trading, you have to be defensive and aggressive at the same time
  • #36,535
  • Apr 15, 2020 7:35pm Apr 15, 2020 7:35pm
AC dropping
Smelling the money
In trading, you have to be defensive and aggressive at the same time
  • #36,536
  • Apr 15, 2020 7:59pm Apr 15, 2020 7:59pm
Track EC made lot of money on this pair and does not spike
In trading, you have to be defensive and aggressive at the same time
  • #36,537
  • Apr 15, 2020 8:02pm Apr 15, 2020 8:02pm
Party time! Before AUD
Inserted Video
In trading, you have to be defensive and aggressive at the same time
  • #36,538
  • Apr 15, 2020 8:05pm Apr 15, 2020 8:05pm
Quoting Davit
Road to success by self Storms ahead {image}
This must be a joke Davit!!!!

I did an (nearly) exact painting some year years ago, colours etc..... takes me back, thank you! LOL
Stay green!!!
  • #36,539
  • Apr 15, 2020 8:07pm Apr 15, 2020 8:07pm
Quoting Froggy
{quote} This must be a joke Davit!!!! I did an (nearly) exact painting some year years ago, colours etc..... takes me back, thank you! LOL
we are separated by butterfly wings all living things are connected.
Virus only shows all races all beings are one.Maybe best take away from this epidemic.Wars are pointless
In trading, you have to be defensive and aggressive at the same time
  • #36,540
  • Apr 15, 2020 8:14pm Apr 15, 2020 8:14pm
Quoting Davit
Party time! Before AUD https://www.youtube.com/watch?v=bYtKZBaHSg0
LOL good song
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