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Tom DeMark Pivot Point System

  • #1
  • First Post: Nov 30, 2007 6:32pm Nov 30, 2007 6:32pm
Hi Every One

I have found the attached equations for Tom DeMark Pivot Point System, I correctly have no idea if I understand them correctly or not!!!(cry2)

So I will tell you what I am thinking, what I understood that it can predict the next day range"Tomorrow Hight and Tomorrow low "!!!! so lets assume that I can calculate tomorrow's high, where I can sell from near this point, or Tomorrow's lowest point and I can buy near this point

What do you think; I need some one to correct my understating if I understand wrong

I guess that we can build a cool system, and I guess that we can easily make test

I need some one who understand DeMark to help

Waiting for feedbacks
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File Type: xls Tom DeMark Pivot Point System.xls   15 KB | 8,315 downloads
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  • #2
  • Nov 30, 2007 8:43pm Nov 30, 2007 8:43pm
Quoting Dr.TofyGuy
Hi Every One

I have found the attached equations for Tom DeMark Pivot Point System, I correctly have no idea if I understand them correctly or not!!!(cry2)

So I will tell you what I am thinking, what I understood that it can predict the next day range"Tomorrow Hight and Tomorrow low "!!!! so lets assume that I can calculate tomorrow's high, where I can sell from near this point, or Tomorrow's lowest point and I can buy near this point

What do you think; I need some one to correct my understating if I understand wrong

I guess that we can build a cool system, and I guess that we can easily make test

I need some one who understand DeMark to help

Waiting for feedbacks
I'm sure it's a good indicator. DeMark does good work.

However

If he has a formula that predicts tomorrow's highs and lows, he wouldn't be writing books for a living. He would be another George Soros or Bill Gates
  • #3
  • Nov 30, 2007 9:10pm Nov 30, 2007 9:10pm
Like everything else it works sometimes. Some people calculate the ranges for the last 10 or 14 days ( or pick another number) and average them out, then sell near the top and buy near the bottom.

You can get just as good results by getting todays range, dividing by 2 and adding the result to todays close. That will give you a fair idea of tomorrow's high. Subtract half of tadays range from todays close to get tomorrows low.

This is basic but like everything else, sometimes it works, sometimes it don't!
  • #4
  • Nov 30, 2007 10:21pm Nov 30, 2007 10:21pm
You need to have other confirming factors. Add a trend indicator and a momentum oscillator and maybe a moving average, begrudgingly.

Here is an example of TD Pivots on the Euro today (friday) 60m chart. I went short (red arrow) after the first down close when euro came within a pip of R1 level. The high bar (with red dot) is a 21bar high right at 89 XMA with trend down TD REI Oscillator also giving the go ahead to short.

Like anything else it does not always work but when things line up it is can be a high percentage trade.

Also to not clutter chart too much more I left out a fib retracement (50%) of a prior swing which comes in at 1.4790 right at R1.

Note the bounce off of S1 also.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD113007.jpg Size: 133 KB
  • #5
  • Dec 1, 2007 4:07am Dec 1, 2007 4:07am
I totally agree that i need another confirmation from another indicator ,
But i was wandering if their is an indicator the plot the predicted high and low for tomorrow’s based on DeMark calculation, rather than manual calculation
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  • #6
  • Dec 1, 2007 6:07am Dec 1, 2007 6:07am
.
Attached File(s)
File Type: mq4 TD Pivot.mq4   2 KB | 5,944 downloads
  • #7
  • Dec 1, 2007 8:32am Dec 1, 2007 8:32am
Quoting bobblong
.
It doesn't seem to work on the daily TF ??? Any Ideas?? Thanks
  • #8
  • Dec 1, 2007 10:05am Dec 1, 2007 10:05am
Why would you want to use it on a daily basis? You would just have very short lines that unless you stretched out your chart would be hard to differentiate the different zones.

I use TradeStation by the way, not MetaTrader so can't help.
  • #9
  • Dec 1, 2007 3:29pm Dec 1, 2007 3:29pm
It does work on the Daily, but it just looks like lines going through/around price

try an hourly chart, look how useless this tool is lol

If you look back on the charts it is substantially more accurate during ranging periods
  • #10
  • Dec 2, 2007 4:02am Dec 2, 2007 4:02am
From his book just to clarify his opinion on this:

http://img151.imageshack.us/img151/76/quotebq4.gif

Pretty clear his confidence wasn't exactly over-flowing.
You can quit and they won't care, but you will always know.
  • #11
  • Dec 2, 2007 10:54am Dec 2, 2007 10:54am
Doesn't say to me anything that can't be said of any other analysis technique.

Nothing can be used in isolation by itself and in every type of market and in every timeframe - forever.

Although I do continue to use many of TD techniques with success that I know they are capable of but not expect anything more than what that is.
  • #12
  • Dec 2, 2007 6:40pm Dec 2, 2007 6:40pm
Quoting SunTrader
Doesn't say to me anything that can't be said of any other analysis technique.

Nothing can be used in isolation by itself and in every type of market and in every timeframe - forever.

Although I do continue to use many of TD techniques with success that I know they are capable of but not expect anything more than what that is.
Firstly have you read his book "The New Science of Technical Analysis"? ... I am not here to dispute the obvious, I think everyone is well aware things don't work all the time (all though some can work for as long as I need to trade for .. people are people) ... have a read of his book, that paragraph is really the only part I get the feeling he needs to add a disclaimer to a method of his, he also dedicates only 2 pages to it, where the rest are extensively fleshed out with examples etc. ... it is clear his research into at the time was not as extensive as his other methods.

He does have some good stuff though.
You can quit and they won't care, but you will always know.
  • #13
  • Dec 2, 2007 7:21pm Dec 2, 2007 7:21pm
I realize you have been away and that you also might not know that many of my posts have been related to Tom DeMark and his methods. Fair enough.

But I have read and re-read many times The New Science of Technical Analysis since I bought it in 1996. I also have and read many times New Market Timing Techniques and DeMark on Day Trading Options.

I purchased many years ago some of his indicators from ISS, the exclusive software vendor for him. Now it is only possible to get these under lease from CQG and Bloomberg.

So I think I know a little about TD, therefore my comment. Also the fact that in the other two mentioned books after New Science.... and in numerous trading magazine articles he has talked about this technique.

Like I said it is like any other technique, sometimes works other times not.
  • #14
  • Dec 5, 2007 10:40pm Dec 5, 2007 10:40pm
Here is an example of TD Pivots 15m basis on GBPUSD on Wednesday. Note that support levels did nothing because the market was in "freefall". But see how S2 and S3 (red arrows) acted as resistance once price came back up. Doesn't happen all the time but it is one to watch for. In other words using the levels both ways. S levels act as resistance once price drops below and comes back up and R levels act as support once price goes above and comes back down.
Attached Image (click to enlarge)
Click to Enlarge Name: GU15m.jpg Size: 81 KB
  • #15
  • Dec 6, 2007 3:24am Dec 6, 2007 3:24am
Any one has an indicator that shows the Level of support and the resistance and tomorrow’s forecast based on demark pivot system, and this will show the levels as follows:

  1. Resistance 3
  2. Resistance 2
  3. Resistance 1
  4. Pivot Point
  5. Support 1
  6. Support 2
  7. Support 3

And Tomorrows High and low forecast

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  • #16
  • Dec 6, 2007 8:16am Dec 6, 2007 8:16am
The indicator I have is for TradeStation covering the 3 support levels, pivot and 3 resistance levels. These are the forecast high and low levels.
  • #17
  • Dec 7, 2007 8:02am Dec 7, 2007 8:02am
one indecater for the metatrader
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  • #18
  • Dec 7, 2007 11:31am Dec 7, 2007 11:31am
Another example of TD Pivots effectiveness on 15m GBPUSD:
Attached Image (click to enlarge)
Click to Enlarge Name: GU15m.jpg Size: 103 KB
  • #19
  • Dec 8, 2007 3:42am Dec 8, 2007 3:42am
no one has the indecater guys???
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  • #20
  • Dec 8, 2007 4:13am Dec 8, 2007 4:13am
hope it will help.
Attached File(s)
File Type: mq4 DeMarker Pivots.mq4   3 KB | 4,673 downloads
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