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  • #45,761
  • Nov 17, 2008 8:26am Nov 17, 2008 8:26am
Quoting piptechnician
It is more work, but then this shouldn't be a game. I usually have to calculate them for the indices I look at.
I have noticed for a while now with the S&P/Dow that mid levels are working a lot better than the main S1/R1 etc numbers.
  • #45,762
  • Nov 17, 2008 8:27am Nov 17, 2008 8:27am
Quoting SunTrader
I have noticed for a while now with the S&P/Dow that mid levels are working a lot better than the main S1/R1 etc numbers.

Shhhhhh sush up. someone might read that.
Redefining Reality
  • #45,763
  • Nov 17, 2008 8:28am Nov 17, 2008 8:28am
Quoting TradeWell
On the ActionForex website, which is not a fib pivot, it is 1.2667.
you can choose from a variety of pivots, click on the tabe you want. I have found the standard pivots to be generally accuarate enough as long as they ACTUALLY calculate from 5pm (sometimes they are late, you have to double check the time stamp), but cannot vouch for the Fibonacci pivots at all, don't use them.

ADD:
Here's a site you can enter your own HLC data into, and select any time you want.. don't use it myself, but someone may find it useful.
http://www.mataf.net/en/tools/pivot-points
Attached Image
FUBAR...
  • #45,764
  • Nov 17, 2008 8:31am Nov 17, 2008 8:31am
Quoting TradeWell
Thanks acumen. I actually downloaded that already and forgot. I hadn't used it because of the fib pivots cobra included on THV.
Attached: SDX pivots indicator for Metatrader.

A new indicator is available for download now — it’s TzPivots. It shows the daily pivot points directly on the MetaTrader chart. It’s easy to use — you only need to set two input parameters for it to work properly:
» LocalTimeZone — should be set to your MetaTrader server’s time zone shift in hours relative to the GMT. E.g. if your charts in MT4 are for GMT-5, then you should enter “-5” for this parameter.
» DestTimeZone — is the time zone shift of the destination trading session relative to the GMT. E.g. if you want to trade during the London session, then you need to set this parameter to ”0” or to ”+1” when the daylight saving time is on.
Attached File(s)
File Type: zip SDX-TzPivots.zip   24 KB | 366 downloads
  • #45,765
  • Nov 17, 2008 8:34am Nov 17, 2008 8:34am
Quoting acumen
It was stated earlier that Pivots vary based on how they are calculated.... which is correct.

The majority of traders that utilize pivots intra-day trade off a 15 minute chart.

They calculate the pivots based on the 5 pm NYC close.

I've found these levels to be very accurate.

Mike

PS - I have my pivot at .2668.
My MT4 server (thru FXDD) has the daily period separator at 5PM EST. However, Last Friday closed at 4PM. My indicator picked up the HLC as: 1.2828, 1.2612, and 1.2686 ....and calculated the pivot to be at 1.2709.
  • #45,766
  • Nov 17, 2008 8:42am Nov 17, 2008 8:42am
Quoting traderathome
My MT4 server (thru FXDD) has the daily period separator at 5PM EST. However, Last Friday closed at 4PM. My indicator picked up the HLC as: 1.2828, 1.2612, and 1.2686 ....and calculated the pivot to be at 1.2709.
If I add the next period open (Sunday open at 5PM EST), then I add 1.2532 and use the "(HLC + next Open)/4" formula, and get a pivot at 1.2665.
  • #45,767
  • Nov 17, 2008 8:45am Nov 17, 2008 8:45am
Quoting acumen
http://www.thefxpivotpoint.com/Videos.htm
FYI, your DP is calculated at the exact same spot as this fib pivot calculator that I have, at least for today. Most of the S&R's are also the same.
  • #45,768
  • Nov 17, 2008 8:45am Nov 17, 2008 8:45am
whats up with the eu?
the tick charts gone nuts!?!
  • #45,769
  • Nov 17, 2008 8:46am Nov 17, 2008 8:46am
Quoting Problem
Attached: SDX pivots indicator for Metatrader.

A new indicator is available for download now — it’s TzPivots. It shows the daily pivot points directly on the MetaTrader chart. It’s easy to use — you only need to set two input parameters for it to work properly:
» LocalTimeZone — should be set to your MetaTrader server’s time zone shift in hours relative to the GMT. E.g. if your charts in MT4 are for GMT-5, then you should enter “-5” for this parameter.
» DestTimeZone — is the time zone shift of the destination trading session relative to the GMT....
Thanks, will try it out.
  • #45,770
  • Nov 17, 2008 8:51am Nov 17, 2008 8:51am
Quoting SunTrader
I have noticed for a while now with the S&P/Dow that mid levels are working a lot better than the main S1/R1 etc numbers.
I wasn't sure if you meant pivots on the dow/s&p charts or on the EU charts, but if the EU, then yes, that has been my observation as well for quite a while now.

I think it must be a euro thing or something, as the yen likes the mains better. When I quit trading UJ last summer, I had to shift my thinking to the mids on EU. EJ just goes where it goes, so it's no help.
FUBAR...
  • #45,771
  • Nov 17, 2008 8:52am Nov 17, 2008 8:52am
Quoting Problem
Attached: SDX pivots indicator for Metatrader.

A new indicator is available for download now — it’s TzPivots. It shows the daily pivot points directly on the MetaTrader chart. It’s easy to use — you only need to set two input parameters for it to work properly:
» LocalTimeZone — should be set to your MetaTrader server’s time zone shift in hours relative to the GMT. E.g. if your charts in MT4 are for GMT-5, then you should enter “-5” for this parameter.
» DestTimeZone — is the time zone shift of the destination trading session relative to the GMT....

This indicator also gave me the same DP that I already had. So it looks like what I have is roughly "standard".
  • #45,772
  • Nov 17, 2008 8:54am Nov 17, 2008 8:54am
Quoting TradeWell
FYI, your DP is calculated at the exact same spot as this fib pivot calculator that I have, at least for today. Most of the S&R's are also the same.
  • #45,773
  • Nov 17, 2008 9:06am Nov 17, 2008 9:06am
Quoting Problem
Attached: SDX pivots indicator for Metatrader.

A new indicator is available for download now — it’s TzPivots. It shows the daily pivot points directly on the MetaTrader chart. It’s easy to use — you only need to set two input parameters for it to work properly:
» LocalTimeZone — should be set to your MetaTrader server’s time zone shift in hours relative to the GMT. E.g. if your charts in MT4 are for GMT-5, then you should enter “-5” for this parameter.
» DestTimeZone — is the time zone shift of the destination trading session relative to the GMT....
I changed the local time zone to -5 (NY time) and got a new DP of 1.2703...interesting...
  • #45,774
  • Nov 17, 2008 9:19am Nov 17, 2008 9:19am
Quoting TradeWell
I changed the local time zone to -5 (NY time) and got a new DP of 1.2703...interesting...
-5 is ok for NY session. did you adjusted the parametar for your broker time?
  • #45,775
  • Nov 17, 2008 9:34am Nov 17, 2008 9:34am
Quoting Problem
-5 is ok for NY session. did you adjusted the parametar for your broker time?
No, broker time is GMT.
  • #45,776
  • Nov 17, 2008 9:40am Nov 17, 2008 9:40am
OK. back in to the bear camp after my little fling on the wild side.

Still have some sell limits that didn't get hit, but will leave them for the time being just in case they surprise me.

short gy 45.55 and ej @ 22.70 with +3 locked and waiting for 1st scale out. EU missed limit entry so going with exisiting shorts there for today unless there's another rally ( rally = )
FUBAR...
  • #45,777
  • Nov 17, 2008 9:42am Nov 17, 2008 9:42am
Quoting ak4x
I wasn't sure if you meant pivots on the dow/s&p charts or on the EU charts, but if the EU, then yes, that has been my observation as well for quite a while now.

I think it must be a euro thing or something, as the yen likes the mains better. When I quit trading UJ last summer, I had to shift my thinking to the mids on EU. EJ just goes where it goes, so it's no help.

I can't speak for Sun, but I think we both meant the dow/s&p. I particularly meant the futures.

I can only guess what is going on, if the "big" speculators are running a little scared that may have created a lack of participants which seems in turn to have tied the EUR/USD tightly to the US equities. Too tightly, I couldn't tell the charts apart at times. I struggled last week with the fact that there wasn't a hint of a timing delay during certain periods. That is what bothered me, everything correlates in some way, but it was ridiculous at times.

Last week there were times when you could have traded the EUR/USD based solely upon the S/R of the US stock market futures.
Redefining Reality
  • #45,778
  • Nov 17, 2008 9:49am Nov 17, 2008 9:49am

The market today is unbearable

The best thing that can happen to you is to find out where you're wrong.
  • #45,779
  • Nov 17, 2008 9:50am Nov 17, 2008 9:50am
Quoting Driver55

The market today is unbearable

Rough for me too. Only 27 pips so far.
  • #45,780
  • Nov 17, 2008 9:50am Nov 17, 2008 9:50am
Quoting Driver55

The market today is unbearable

It also becomes unbullable.
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