Pivot point help

Hi,

Quick question, does each time fram has different pivot points or all af them are same?

thanks

All timeframes have the same PP since the same data is used to calculate them. There are monthly, weekly and daily pivots that are calculated using monthly, weekly and daily data respectively. But after they are calculated they stay the same on all the timframes until a new pivot is calculated.
HTH

Great thank you

yes, your daily pivots should change daily, weekly pivots should be new every week, and you guessed it, monthly pivots change every month.

one more question, I am using an indicator for MT4, how ever its a few pips off than here http://www.forexproject.com/Daily_Pivot_Points/

which one is correct?

thanks

Both are corect. There will be a slight difference because the datafeed used for getting the data for calculating the PP could be slightly different. Also there are different formulas for calculating the pivots. I would say just go with your indicator.

cool, thank you

I use the daily pivot.all the pivot are just the same.I mean we talk about range not the exact price digits.depend on how you trade your acc.

I have a different opinion on the matter. Pivot points are used to determine the winner of the fight (buyer or seller) based on time frame that they are calculated. Buyers today win over sellersif close of day is above Pivot Point. The same can be used on a 15 min chart. PP is based on previous 15 min bar and lets me know if buyers or sellers are winning in relation to previous bar. This can get even more interesting when using what i like to call dynamic pivots. One example would be to use a 5 min chart and create a PP using the last 48 bars for highs and lows and close of most recent 5 min bar. This will give you a 4hr pivot that adapts to market conditions every 5 minutes.

Anyway, this is just how I use them.

I do think different systems now have different opinion about PP.

so i would be very careful to use PP from ..

You got an answer from the others on this site. But here is a tip....The
pivot point is "imprisoned within the mid 1/3 range". So right in the middle
of the range (no matter what time period) is the water line of the pivot.
If you have a chart (hand made one...or you can program) the pivot point
will be in ratio of the close to that of the range. So if the close is right
in the middle of the range....the contention is that the market could be
going into a congestion. What it amounts to...and something to think
about....is that the open and the close are so important....and the pivot
point becomes important because where it's located in relation to the
open, the high of the period before....and where the market is trading
in relation to this pivot point. The lines for the Resistance and Support...
can be figured with the formula....but you can also draw a line from the
low thru the pivot point and extend it out to the next period "for the high".
The same for the low.....draw a line from the "high" then thru the PP...
and extend it down for the support. You can also learn to use your
fingers and even your eyes and judge just where the R/S would be. But
be sure to have your pivot point the middle of the period that you're
using. That is the space between the range and the following next
range to be. (The space between the two periods...in the middle of it).
Now for R2/S2, and R3/S3...is just an extention at the same space.
Guys like Bain have used more-less a Fibo ratio...and even used a M1,M2,
M3,M4....which is in the middle between the R/S each. That's Peter
Bain's version. Guys like Hunt....have all kinds of chocolate covered
goodies with their version of the pivot point. The whole business is like
having a "Chicken with false teeth....doing a soft shoe dance.....and
then hope the Rooster doesn't try to mount her before her finish".
And maybe, just maybe,.... there will be an applause from somewhere.....

tonyj

Thank you all for these great info...

I am using a pivot point indicator for MT4 called Pivot Lines.mq4, however for some reason its not working on weekly and monthly, it is only working on daily and under... should I be jusing a different indicator?

what are you all using for MT4?

thanks again

What is the time used for daily pivot calculations?
The day for the weekly pivots?
Monthly pivots?

On your chart you have candles or bars that are for daily weekly monthly. Use the previous month week and days high low & close for each of those candles.

Any thought on bollinger band width and how to attach it to chart on NorthFinance Platform?[[email protected]]

Any thought on bollinger band width and how to attach it to chart on NorthFinance Platform?[[email protected]]