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Help me with pivot point

  • #1
  • First Post: Sep 8, 2007 5:03am Sep 8, 2007 5:03am
please i need to know how to calculate pivot point and how price behave around support and resistance levels. what the relevance of M1 M2 M3 M4 level postulated by Peter Bain. Thanks.
  • #2
  • Sep 8, 2007 5:36am Sep 8, 2007 5:36am
Quoting Jolabiyi1
please i need to know how to calculate pivot point and how price behave around support and resistance levels. what the relevance of M1 M2 M3 M4 level postulated by Peter Bain. Thanks.
Please do yourself, and us, a favour and ask your questions here. http://www.investopedia.com/search/results.aspx?q=Forex
If you spend a bit more time getting your research done first, and then ask us for clarification, you'll make better progress than starting a string of new threads all over the forum.
People will get tired of telling you the basics and you'll get upset 'cos folk like me won't bother to respond.

By the way, there is a Search button on this site, try using that as well. Every question you've asked has been answered a dozen times before. All the info you need is on here somewhere.

Have a nice day
  • #3
  • Sep 8, 2007 5:46pm Sep 8, 2007 5:46pm
Quoting PeterFM
Please do yourself, and us, a favour and ask your questions here. http://www.investopedia.com/search/results.aspx?q=Forex
If you spend a bit more time getting your research done first, and then ask us for clarification, you'll make better progress than starting a string of new threads all over the forum.
People will get tired of telling you the basics and you'll get upset 'cos folk like me won't bother to respond.

By the way, there is a Search button on this site, try using that as well. Every question you've asked has been answered a dozen times before. All the info you need is on here somewhere.

Have a nice day

Thanks for the link. I am sorry for starting a new thread I never knew it will annoying. Thanks for responding and the advice. Thanks
  • #4
  • Sep 8, 2007 5:52pm Sep 8, 2007 5:52pm
Quoting Jolabiyi1
Thanks for the link. I am sorry for starting a new thread I never knew it will annoying. Thanks for responding and the advice. Thanks
But you are asking for help, that's fine, but most of us have only so many hours in the day. We will help where we can, but we do like to see newbies doing some of the work themselves.

There is so much to learn, we can't teach you everything. We wouldn't have time to trade, or enjoy life with our loved ones.

Take care
  • #5
  • Sep 9, 2007 1:57am Sep 9, 2007 1:57am
Joyliabi1, welcome to the forum.

See my post (#2 in the thread) here:
http://www.forexfactory.com/showthread.php?t=39955
(there are also pivot indicators for MT4 in the attachment to this post)

Pivot point calculator here:
http://www.mypivots.com/Education/to...ot-calculator/
and also in attached XLS.

With regard to your question concerning relevance, I've found the following to have the most reliable 'predictive value' (in terms of price stalling, reversing or breaking out significantly):

  1. First, areas of major prior support/resistance (assuming you can identify the major ones)
  2. Second, trendlines and patterns (wedges, triangles, channels, etc - assuming you know how/where to draw them)
  3. Third, Fibonacci retracements
  4. Fourth, floor trader pivots (Peter Bain)

Good luck
David

Attached File(s)
File Type: zip Pivot calculator.zip   5 KB | 1,124 downloads
  • #6
  • Sep 9, 2007 6:06am Sep 9, 2007 6:06am
If you use the forums search feature, you can find many answers to the questions your posting.
  • #7
  • Sep 9, 2007 8:23am Sep 9, 2007 8:23am
sorry to post this,i an get error the end my pivot.also i am very newbies on custom my mt4.

any body can help meeeee...?????


thank
Attached File(s)
File Type: mq4 my pivot5.mq4   10 KB | 669 downloads
  • #8
  • Last Post: Sep 10, 2007 1:59am Sep 10, 2007 1:59am
Hi Closetender

As a starting point, count the number of left and right parentheses in the following two lines of code:

pivots[PIVOT_M4] = NormalizeDouble((pivots[PIVOT_PP] + (((2 * pivots[PIVOT_PP] - prices[PRICE_LOW]) - (2 * pivots[PIVOT_PP] - prices[PRICE_HIGH])),Digits);

pivots[PIVOT_M0] = NormalizeDouble((pivots[PIVOT_PP] - (((2 * pivots[PIVOT_PP] - prices[PRICE_LOW]) - (2 * pivots[PIVOT_PP] - prices[PRICE_HIGH])-prices[PRICE_LOW] - 2 * (prices[PRICE_HIGH] - pivots[PIVOT_PP])),Digits);

Hope this helps you get started

David
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