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Piviot Points

  • #1
  • First Post: Sep 6, 2005 8:52am Sep 6, 2005 8:52am
Hi Guys,

Just hear traders talking about piviot points, How can i apply them, etc ?
Are they any good ?

Many Thanks.
You only have to get rich once.
  • #2
  • Edited 9:29am Sep 6, 2005 9:23am | Edited 9:29am
Here's my two cents worth with what I have learned on this forum. If you are talking support and resistance, Yes, it does work. check out todays aud/usd chart below. The white lines are daily s/r. Notice the pin bar at 7:30 right at r1 and it goes almost to s1 and then bounces. About a 20 pip move, not bad, not great but I took it and am happy.

Also notice the double bottom that formed earlier when I was sleeping! Since I have incorparted them with the pin bars and the double high/low life has definately been better. Hope this helps some. Pipmon
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LETS PLAY HOCKEY!
  • #3
  • Sep 6, 2005 8:01pm Sep 6, 2005 8:01pm
Check out these edu links:

http://www.crbindex.com/techtip/tipv4n10.htm

http://www.tradertalk.com/tutorial/Pivpt.html

http://www.investopedia.com/articles.../04/041404.asp

http://www.trade2win.com/boards/show...ighlight=pivot
  • #4
  • Sep 6, 2005 11:08pm Sep 6, 2005 11:08pm
Great links.....

You could also look for a broker that has Pivots as part of their software & track daily how the different currencies respond to the Pivot lines. If you use oscillators, note particularly their position as the market approaches the pivot line.

One more link:

http://www.incrediblecharts.com/tech...t_reversal.htm

As with all methods & indicators, make sure you demo & backtest to your satisfaction!!.
  • #5
  • Sep 7, 2005 1:05am Sep 7, 2005 1:05am
I am using Meta Trader 4 charts with a custom Pivot Line indicator.

I check this reading against:

http://www.actionforex.com

http://www.mataf.net/en/analysis-pivot.htm

....each morning. So either the reading are the same or the are out by 1/2 pips, thus creating a zone, rather than a 1 pip level.

I think it is important to consider the area a zone, rather than trying to pinpoint an actual pip level, since depending on what feed you are using, the calculation could be slightly out anyway.
  • #6
  • Sep 7, 2005 8:47am Sep 7, 2005 8:47am
See the attached PDF document on pivots.

Dial
Attached File(s)
File Type: pdf Pivots.pdf   271 KB | 1,644 downloads
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  • #7
  • Sep 7, 2005 11:16am Sep 7, 2005 11:16am
Which time is most common for calculating pivot points in forex?
17-17 EST or midnight-midnight EST?

Bjorn
  • #8
  • Sep 7, 2005 7:30pm Sep 7, 2005 7:30pm
Diallist!,

Great .pdf article!!!....

Has anyone messed with weekly/monthly pivots???
  • #9
  • Sep 7, 2005 7:36pm Sep 7, 2005 7:36pm
Quoting Pipbull
Diallist!,

Great .pdf article!!!....

Has anyone messed with weekly/monthly pivots???
You're welcome! Glad you liked it.
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #10
  • Sep 8, 2005 2:57pm Sep 8, 2005 2:57pm
Quoting hagadol
I am using Meta Trader 4 charts with a custom Pivot Line indicator.

I check this reading against:

http://www.actionforex.com

http://www.mataf.net/en/analysis-pivot.htm

....each morning. So either the reading are the same or the are out by 1/2 pips, thus creating a zone, rather than a 1 pip level.

I think it is important to consider the area a zone, rather than trying to pinpoint an actual pip level, since depending on what feed you are using, the calculation could be slightly out anyway.
Hi Hagadol,

can you tell me code for creatin that Pivot indicator?It would help me a lot.

Thanks
  • #11
  • Sep 8, 2005 11:40pm Sep 8, 2005 11:40pm
I don't know how to send the code, though I could email the indicator to you.

There is also a Yahoo Group dedicated to MT and you can find various custom indicators there.

http://finance.groups.yahoo.com/grou...and_Indicators
  • #12
  • Sep 9, 2005 4:09am Sep 9, 2005 4:09am
Quoting hagadol
I don't know how to send the code, though I could email the indicator to you.

There is also a Yahoo Group dedicated to MT and you can find various custom indicators there.

http://finance.groups.yahoo.com/grou...and_Indicators
I think in MetaEditor you can use script for indicattor.I think you can send as a text,and than I could past it into Editor,thus creating it.But,maybe I`m wrong...

How did you get it?

Ok,I send you private message,so chek it.

Alex.
  • #13
  • Sep 9, 2005 6:08am Sep 9, 2005 6:08am
Alex

Sent 2 your email, with installation instructions.

The readings usually match Action and Mataf, or within 1 pip. (see my earlier post).

Hag
  • #14
  • Sep 9, 2005 9:24am Sep 9, 2005 9:24am
Quote
Originally Posted by hagadol
There is also a Yahoo Group dedicated to MT and you can find various custom indicators there.

I joined the yahoo group you mentioned, but it seems difficult to navigate and find what you are looking for.

I use metatrader also. Could you please e-mail me the code or script for pivot points also. It will be much easier than manually putting them in every chart, every day.

Thanks
Jimmy
  • #15
  • Sep 9, 2005 9:37am Sep 9, 2005 9:37am
will do, just need your email address. Post here or private message me.
  • #16
  • Sep 9, 2005 11:02am Sep 9, 2005 11:02am
Thanks for indicator Hagadol,

Now,one question.I get that s1,s2,s3 lines and r1,r2,r3 lines.I get that,but what are those M,H and L lines? what they represent? and can I delete them from indicator?(I can delete them manualy,step by step,but can I delete them out indicator)

sorry for bother,and thanks for help.
  • #17
  • Sep 9, 2005 12:18pm Sep 9, 2005 12:18pm
The M's are mid points. The are in the exactly in the middle of the main pivot, support and resistance lines.

The others are Camarilla, which I do not use. To remove:

Right click on chart

Click on Indicator List

Then Pivot Points

Inputs Tab - Select false for Camarilla and Midpoints if you don't want them.
  • #18
  • Sep 11, 2005 10:08am Sep 11, 2005 10:08am
Quoting hagadol
The M's are mid points. The are in the exactly in the middle of the main pivot, support and resistance lines.

The others are Camarilla, which I do not use. To remove:

Right click on chart

Click on Indicator List

Then Pivot Points

Inputs Tab - Select false for Camarilla and Midpoints if you don't want them.
Thanks man.Much,much appreciate
  • #19
  • Last Post: Jan 9, 2012 1:41pm Jan 9, 2012 1:41pm
Quoting hagadol
The M's are mid points. The are in the exactly in the middle of the main pivot, support and resistance lines.

The others are Camarilla, which I do not use. To remove:

Right click on chart

Click on Indicator List

Then Pivot Points

Inputs Tab - Select false for Camarilla and Midpoints if you don't want them.
Be careful with freeby pivot indicators - some of them are very badly written with incorrect formulas, no consideration for Sunday data bars, no shift options etc etc. Compare the pivot data to mataf.net and see for yourself- some of the free packages are out by up to 20 pips on deep levels such as R3 and S3 -

Unless you KNOW your indicator is spot and and synched to your trading timeframe you'd be better off not bothering as you could be placing trades off levels which nobody else is looking at. FX AlgoTrader did an interesting article on free vs paid for pivots which looked at the accuracy of free systems.
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