Pivot Trading

GreenEarth, completely agree - pivots keep it simple, MINDSET IS HUGE, consistence of your trading process.
As well as market bias - our job is to follow market and trade with the events and price movement-in whatever direction that money flows.

all the best - I hope all traders gain.

Nice to have trader millionaires around here.

Hi Green Erath i hope you do well i would like to see how your setup for those 15 pips look's like

Mizi123 , my #1 setup is simply looking for an "old fashioned" double bottom or a double top: my #2 setup is a head and shoulders.
I begin to WATCH THE MARKET on Sunday night , the market will usually start to develop its "personality" within 24 hours , and this generally will play out through the week.
Then , and THIS IS WHERE DAVIT'S PIVOT POINT SYSTEM REALLY BECOMES POWERFUL , by Tuesday at the latest , PA will have been established. This is important because there have been many weeks where the UC has been "stuck" in the area between WPP and R38 or S38 and NOT getting to the 61 or 78 levels , which would be ideal.
Therefore , I look for retracements. Using just the basic 50% retracement rule that I read about 25 years ago. Typically , I will pull out my profit at the 40% area.
If you look at the UC chart FOR THIS WEEK , you will see a huge retracement at this time of writing from the R78 zone. Mizi123 , if a trader can't pull 15 pips from the PA of this pair, FOR THE WEEK , then that trader is WATCHING PA , not participating in it. I often tell traders to go back and look at the charts on this thread BUT if they are not consciously really trying to understand why the author of the chart was doing what they are doing , then , they are just looking at the chart and NOT UNDERSTANDING HOW AND WHY THE TRADER INTERACTED WITH PA ON THAT CHART. THAT IS THE KEY.
Mizi123 , for years , I made trading waaayyy too complicated , and then one day about 6 years ago I got this AHA MOMENT , and suddenly , I made trading PA simple. With so much information available to us , Traders will look at all the video's all over the Web , looking for a magic key. The key is right here on this thread IF you really get serious about understanding PA on of the chart of your favorite pair or pairs. I only trade the UC , mainly because I'm Canadian and the US is our trading partner. At any given moment I know what price action is doing with the UC , and RIGHT NOW there's a downtrend within the MASTER TREND , which is up.

Mizi123 , that's my "long winded answer". If it's too confusing , then let me know and I will repost with some charts. Using DAVIT'S SYSTEM made me realize that there are PIVOT POINTS everywhere , in every chart , as it relates to PRICE ACTION. Gotta go , NFP is in 20 minutes , already had my 15 pips FOR THE WEEK , on Tuesday. Trading is simple to me now , it really is. Human beings make everything hard.
Cheers,
GE

Thank you G-Earth everything is cleare to me

AU - Perhaps one for next week. AUD cash rate on Tuesday.

Hello Lady's and Gents new here. Just ting to modify a Trading view script (auto fib) but i would like to know how i would edit the code to measure the fib to tip of the last zigzag that dint make a new high or new low. This would be awesome if someone could point me in the right direction.




//@version=5
indicator("Auto Fib Retracement", overlay=true)

devTooltip = "Deviation is a multiplier that affects how much the price should deviate from the previous pivot in order for the bar to become a new pivot."
depthTooltip = "The minimum number of bars that will be taken into account when calculating the indicator."
// pivots threshold
threshold_multiplier = input.float(title="Deviation", defval=3, minval=0, tooltip=devTooltip)
depth = input.int(title="Depth", defval=10, minval=2, tooltip=depthTooltip)
reverse = input(false, "Reverse", display = display.data_window)
var extendLeft = input(false, "Extend Left    |    Extend Right", inline = "Extend Lines")
var extendRight = input(true, "", inline = "Extend Lines")
var extending = extend.none
if extendLeft and extendRight
extending := extend.both
if extendLeft and not extendRight
extending := extend.left
if not extendLeft and extendRight
extending := extend.right
prices = input(true, "Show Prices", display = display.data_window)
levels = input(true, "Show Levels", inline = "Levels", display = display.data_window)
levelsFormat = input.string("Values", "", options = ["Values", "Percent"], inline = "Levels", display = display.data_window)
labelsPosition = input.string("Left", "Labels Position", options = ["Left", "Right"], display = display.data_window)
var int backgroundTransparency = input.int(85, "Background Transparency", minval = 0, maxval = 100, display = display.data_window)

import TradingView/ZigZag/7 as zigzag

update()=>
var settings = zigzag.Settings.new(threshold_multiplier, depth, color(na), false, false, false, false, "Absolute", true)
var zigzag.ZigZag zigZag = zigzag.newInstance(settings)
var zigzag.Pivot lastP = na
var float startPrice = na
var float height = na
settings.devThreshold := ta.atr(10) / close * 100 * threshold_multiplier
if zigZag.update()
lastP := zigZag.lastPivot()
if not na(lastP)
var line lineLast = na
if na(lineLast)
lineLast := line.new(lastP.start, lastP.end, xloc=xloc.bar_time, color=color.gray, width=1, style=line.style_dashed)
else
line.set_first_point(lineLast, lastP.start)
line.set_second_point(lineLast, lastP.end)

startPrice := reverse ? lastP.start.price : lastP.end.price
endPrice = reverse ? lastP.end.price : lastP.start.price
height := (startPrice > endPrice ? -1 : 1) * math.abs(startPrice - endPrice)
[lastP, startPrice, height]

[lastP, startPrice, height] = update()

_draw_line(price, col) =>
var id = line.new(lastP.start.time, lastP.start.price, time, price, xloc=xloc.bar_time, color=col, width=1, extend=extending)
line.set_xy1(id, lastP.start.time, price)
line.set_xy2(id, lastP.end.time, price)
id


_draw_label(price, txt, txtColor) =>
x = labelsPosition == "Left" ? lastP.start.time : not extendRight ? lastP.end.time : time
labelStyle = labelsPosition == "Left" ? label.style_label_right : label.style_label_left
align = labelsPosition == "Left" ? text.align_right : text.align_left
labelsAlignStrLeft = txt + '\n ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ \n'
labelsAlignStrRight = ' ' + txt + '\n ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ ‏ \n'
labelsAlignStr = labelsPosition == "Left" ? labelsAlignStrLeft : labelsAlignStrRight
var id = label.new(x=x, y=price, xloc=xloc.bar_time, text=labelsAlignStr, textcolor=txtColor, style=labelStyle, textalign=align, color=#00000000)
label.set_xy(id, x, price)
label.set_text(id, labelsAlignStr)
label.set_textcolor(id, txtColor)

_wrap(txt) =>
"(" + str.tostring(txt, format.mintick) + ")"

_label_txt(level, price) =>
l = levelsFormat == "Values" ? str.tostring(level) : str.tostring(level * 100) + "%"
(levels ? l : "") + (prices ? _wrap(price) : "")

_crossing_level(series float sr, series float r) =>
(r > sr and r < sr[1]) or (r < sr and r > sr[1])

processLevel(bool show, float value, color colorL, line lineIdOther) =>
float m = value
r = startPrice + height * m
crossed = _crossing_level(close, r)
if show and not na(lastP)
lineId = _draw_line(r, colorL)
_draw_label(r, _label_txt(m, r), colorL)
if crossed
alert("Autofib: " + syminfo.ticker + " crossing level " + str.tostring(value))
if not na(lineIdOther)
linefill.new(lineId, lineIdOther, color = color.new(colorL, backgroundTransparency))
lineId
else
lineIdOther

show_0 = input(true, "", inline = "Level0", display = display.data_window)
value_0 = input(0, "", inline = "Level0", display = display.data_window)
color_0 = input(#787b86, "", inline = "Level0", display = display.data_window)

show_0_236 = input(true, "", inline = "Level0", display = display.data_window)
value_0_236 = input(0.236, "", inline = "Level0", display = display.data_window)
color_0_236 = input(#f44336, "", inline = "Level0", display = display.data_window)

show_0_382 = input(true, "", inline = "Level1", display = display.data_window)
value_0_382 = input(0.382, "", inline = "Level1", display = display.data_window)
color_0_382 = input(#81c784, "", inline = "Level1", display = display.data_window)

show_0_5 = input(true, "", inline = "Level1", display = display.data_window)
value_0_5 = input(0.5, "", inline = "Level1", display = display.data_window)
color_0_5 = input(#4caf50, "", inline = "Level1", display = display.data_window)

show_0_618 = input(true, "", inline = "Level2", display = display.data_window)
value_0_618 = input(0.618, "", inline = "Level2", display = display.data_window)
color_0_618 = input(#009688, "", inline = "Level2", display = display.data_window)

show_0_65 = input(false, "", inline = "Level2", display = display.data_window)
value_0_65 = input(0.65, "", inline = "Level2", display = display.data_window)
color_0_65 = input(#009688, "", inline = "Level2", display = display.data_window)

show_0_786 = input(true, "", inline = "Level3", display = display.data_window)
value_0_786 = input(0.786, "", inline = "Level3", display = display.data_window)
color_0_786 = input(#64b5f6, "", inline = "Level3", display = display.data_window)

show_1 = input(true, "", inline = "Level3", display = display.data_window)
value_1 = input(1, "", inline = "Level3", display = display.data_window)
color_1 = input(#787b86, "", inline = "Level3", display = display.data_window)

show_1_272 = input(false, "", inline = "Level4", display = display.data_window)
value_1_272 = input(1.272, "", inline = "Level4", display = display.data_window)
color_1_272 = input(#81c784, "", inline = "Level4", display = display.data_window)

show_1_414 = input(false, "", inline = "Level4", display = display.data_window)
value_1_414 = input(1.414, "", inline = "Level4", display = display.data_window)
color_1_414 = input(#f44336, "", inline = "Level4", display = display.data_window)

show_1_618 = input(true, "", inline = "Level5", display = display.data_window)
value_1_618 = input(1.618, "", inline = "Level5", display = display.data_window)
color_1_618 = input(#2962ff, "", inline = "Level5", display = display.data_window)

show_1_65 = input(false, "", inline = "Level5", display = display.data_window)
value_1_65 = input(1.65, "", inline = "Level5", display = display.data_window)
color_1_65 = input(#2962ff, "", inline = "Level5", display = display.data_window)

show_2_618 = input(true, "", inline = "Level6", display = display.data_window)
value_2_618 = input(2.618, "", inline = "Level6", display = display.data_window)
color_2_618 = input(#f44336, "", inline = "Level6", display = display.data_window)

show_2_65 = input(false, "", inline = "Level6", display = display.data_window)
value_2_65 = input(2.65, "", inline = "Level6", display = display.data_window)
color_2_65 = input(#f44336, "", inline = "Level6", display = display.data_window)

show_3_618 = input(true, "", inline = "Level7", display = display.data_window)
value_3_618 = input(3.618, "", inline = "Level7", display = display.data_window)
color_3_618 = input(#9c27b0, "", inline = "Level7", display = display.data_window)

show_3_65 = input(false, "", inline = "Level7", display = display.data_window)
value_3_65 = input(3.65, "", inline = "Level7", display = display.data_window)
color_3_65 = input(#9c27b0, "", inline = "Level7", display = display.data_window)

show_4_236 = input(true, "", inline = "Level8", display = display.data_window)
value_4_236 = input(4.236, "", inline = "Level8", display = display.data_window)
color_4_236 = input(#e91e63, "", inline = "Level8", display = display.data_window)

show_4_618 = input(false, "", inline = "Level8", display = display.data_window)
value_4_618 = input(4.618, "", inline = "Level8", display = display.data_window)
color_4_618 = input(#81c784, "", inline = "Level8", display = display.data_window)

show_neg_0_236 = input(false, "", inline = "Level9", display = display.data_window)
value_neg_0_236 = input(-0.236, "", inline = "Level9", display = display.data_window)
color_neg_0_236 = input(#f44336, "", inline = "Level9", display = display.data_window)

show_neg_0_382 = input(false, "", inline = "Level9", display = display.data_window)
value_neg_0_382 = input(-0.382, "", inline = "Level9", display = display.data_window)
color_neg_0_382 = input(#81c784, "", inline = "Level9", display = display.data_window)

show_neg_0_618 = input(false, "", inline = "Level10", display = display.data_window)
value_neg_0_618 = input(-0.618, "", inline = "Level10", display = display.data_window)
color_neg_0_618 = input(#009688, "", inline = "Level10", display = display.data_window)

show_neg_0_65 = input(false, "", inline = "Level10", display = display.data_window)
value_neg_0_65 = input(-0.65, "", inline = "Level10", display = display.data_window)
color_neg_0_65 = input(#009688, "", inline = "Level10", display = display.data_window)


lineId0 = processLevel(show_neg_0_65, value_neg_0_65, color_neg_0_65, line(na))
lineId1 = processLevel(show_neg_0_618, value_neg_0_618, color_neg_0_618, lineId0)
lineId2 = processLevel(show_neg_0_382, value_neg_0_382, color_neg_0_382, lineId1)
lineId3 = processLevel(show_neg_0_236, value_neg_0_236, color_neg_0_236, lineId2)
lineId4 = processLevel(show_0, value_0, color_0, lineId3)
lineId5 = processLevel(show_0_236, value_0_236, color_0_236, lineId4)
lineId6 = processLevel(show_0_382, value_0_382, color_0_382, lineId5)
lineId7 = processLevel(show_0_5, value_0_5, color_0_5, lineId6)
lineId8 = processLevel(show_0_618, value_0_618, color_0_618, lineId7)
lineId9 = processLevel(show_0_65, value_0_65, color_0_65, lineId8)
lineId10 = processLevel(show_0_786, value_0_786, color_0_786, lineId9)
lineId11 = processLevel(show_1, value_1, color_1, lineId10)
lineId12 = processLevel(show_1_272, value_1_272, color_1_272, lineId11)
lineId13 = processLevel(show_1_414, value_1_414, color_1_414, lineId12)
lineId14 = processLevel(show_1_618, value_1_618, color_1_618, lineId13)
lineId15 = processLevel(show_1_65, value_1_65, color_1_65, lineId14)
lineId16 = processLevel(show_2_618, value_2_618, color_2_618, lineId15)
lineId17 = processLevel(show_2_65, value_2_65, color_2_65, lineId16)
lineId18 = processLevel(show_3_618, value_3_618, color_3_618, lineId17)
lineId19 = processLevel(show_3_65, value_3_65, color_3_65, lineId18)
lineId20 = processLevel(show_4_236, value_4_236, color_4_236, lineId19)
lineId21 = processLevel(show_4_618, value_4_618, color_4_618, lineId20)
/////////////////////////////////////////////////////////////////////////////////////////////////

USDCHF 0.9010 seems to be a good level for buy as we have both double bottom and pivot number come at the same area.

Waiting for a short entry right at the top of AU

Hello Traders !!!! It's a GREAT MONDAY MORNING !!!! Just want to "say" that I am NOT A FINANCIAL ADVISOR OR A TRADING ADVISOR. EVERY TRADE THAT YOU ENTER INTO IS YOUR ENIRE RESPONSIBILITY AND YOU OWN IT. DAVIT HAS BEEN GRACIOUS ENOUGH TO START THIS THREAD OUTLINING HIS APPROACH TO PIVOT POINT TRADING. IF THIS STRATEGY RESONATES WITH YOU GREAT , IF NOT , THEN THERE IS PLENTY OF CONTENT POSTED ON THE WORLD WIDE WEB DETAILING VARIOUS STRATEGIES CONCERNING FOREX TRADING.
HAVING SAID THIS , Alish746 has posted a pair of trades that he/she is currently interested in. FIRSTLY ALISH746 , ON PAGE #1 , DAVIT specifically states to "avoid" pairs involving the CHF. I have never traded that pair myself. However , as I have mentioned in a previous post , I look for certain elements for assessing an entry point. (READ IT YOURSELF IF YOU WISH) Also DAVIT states on Page #1 that a trader "MUST HAVE....." 2 years experience in order to trade using his PIVOT POINT STRATEGY , (WHICH WORKS VERY WELL IF YOU REMAIN COMITTED TO UNDERSTANDING THE STRATEGY).

Back to your 2 chart posts ALISH746 , IF I WERE TRADING THOSE PAIRS , YES , I WOULD BE VERY INTERESTED IN THOSE TRADES , BUT , without having any background concerning those pairs on your separate posts , I cannot say that I would indeed take those trades. From a technical standpoint they look good , but so do many other pairs. Also ON PAGE 1 , DAVIT states that fundamentals are also taken into account in relation to THIS PARTICULAR TRADING STRATEGY. I have no fundamental knowledge concerning both pairs on each of your charts. IF YOU TAKE THOSE TRADES , THE OUTCOME IS 100% YOUR ENTIRE RESPONSIBILITY !!!!

I want to clarify to Traders that utilize this wonderful strategy , if you see a post on here and you decide to enter into a trade based on that post , IT IS STILL 100% YOUR RESPONSIBILITY. YOUR BRAIN , "TOLD"YOUR FINGERS , WHAT TO DO. PERIOD.
So use this thread's information WISELY. ACCOUNT MANAGEMENT IS SO IMPORTANT. FOR ME PERSONALLY , IT REALLY HAS BEEN THE KEY TO PROFITABLE TRADING.
So have a GREAT WEEK everyone , enjoy and embrace the journey because it is indeed a MARATHON AND NOT A SPRINT.
Cheers ,
GE

First of all thank you for your reminders which Davit gave us on the very first page and also thanks for your precious suggestions. Besides, I am aware of all risks regarding USCDCHF but I am still wiling to take the trade if it goes to specific area because I have good experience with it and also I have more than one year experience in trading. I believe, it won’t be problematic for me.

The gold is holding 2330 resistance which is right below R38, if the price does not break above this level then I am expecting it to drop to either 2280(S38) or 2265(S61)

Hi Grean Earth you and friends i hope you do well as i don't know if any of you uses fare value gap's as entry model i se last period of time when price bounces from WPP respect them when they appere thank you all

Waiting for a good setup ...
Be patient

I think these Members posting outside the Template should be stopped.

Looks like S38 May hold and the price can do some correction.

Mizi123 , I DO NOT USE FAIR VALUE GAPS , and only became aware of them and their existence earlier this year. PA will tell you everything that you need to know , in real time , but , all charts do leave clues concerning PA on the left hand side of any chart , in my opinion.

DonVic , I totally agree with you 100%. I believe that the integrity of DAVIT"S PIVOT POINT TRADING SYSTEM should be preserved in every single detail.

Cheers,
GE

I think people like you should be stoped posting from any group, I have never seen you posting anything positive except spreading this kind of useless negativity. If you people have problem with my template then I will not post here anymore. Anyway my intention was to help new traders and to keep posting so others can get benefits from pivot trading.

EA reacted really well from support S38 and I hope it will reach to R61 or R78 where it may again create another short entry.

A good call am following your trades on demo am learning alot about this system