We all need pivots to win..yes or not?

Hi im new to this forum ,i trade from some time with small but consistant profit,Im looking for help and good pivot lines or zones indicators.

Im tired of calculate them by my own or read from one of webs,i trade 4 majors,mostly 30min and 15min chart.

Can enybody will share with me their experience about pivots and maybe give me some hand with software i should choise,so far im using fibonacci charts.

And do i should use pivots or giveup on them to use something better?
I can always made my small profit better..right?
Adam

Hey Pivot Zone!,

eSignal has great charts with pivots on them.... But that comes at a premium!. Not too many brokers offer Pivot Points as part of their free software.

Whatever system or set of indicators you use, the key is backtesting & mastering until you're satisfied with your confidence & results.

My 2pips....

thx i found also metatrader4 platform from alpari,looks good,now i need find some good experts,and maybe somone who will help me in first steps.

I will keep you inform.

There are many MT4 pivot custom indicators available. I can post the mq4 code here if you are desperate.

Sure it will be nice if you can gimme some expert. Im digging in internet to find some good trading group,coz indicators is just part of what i need.

Ithink is good to educate betwen other traders,some chat room?Or education for meta4?

Or any good system?

I dont wanna pay p.bain page 1300$ for course coz i dont see point in this.

Or maybe i should...damm im lost help..

For MetaTrader programming, including experts, go to http://finance.groups.yahoo.com/grou...nd_Indicators/

For a good system, MuddBuddha has posted a couple on this forum. Do a search for his posts. You can find his systems for free at www.professionalforex.com. Click on the link for "Trading Books" in the upper left corner of the home page. The two systems are called "Simple Forex System" & "Simple Fibonacci EMA System"

Don't pay any money for any system until AFTER you've learned everything you can for free on this forum and reading lots of trading books. Merlin, the forum administrator has a list of books that are essential. You can find the list of books at http://www.forexfactory.com/index.php?page=contest.

One last thing. Trading books are EXPENSIVE!! Try your library's inter-library book loan system to read the books for free. Then buy the ones you really got something out of.


Dial

thx diall.


I will read some more,nut i know from many people that yahoo forum dont develope nothing,just endless versions 1.999999 of versions beta

I found some nice indicators,there is some rumor about tsd,but looks like same path still new versions.

I will stick around and educate,thx for help.

Don't waste your money. Check out James16's thread for a better understanding of how to trade. Ask Jim questions about pivots and how to use them. You'll learn a lot more from Jim than from PB. Too many complaints about PB's affiliate program.

FT

Hi PZ... Here are 2 MT4 experts to display daily pivot points + Median points.
I use 2 experts because MT4 has a max of 7 indicator lines per expert.
> PIVOTP DAILY.MQ4 : plots R1, R2, S1, S2 and Pivot
> PIVOTM DAILY.MQ4 : plots Median 1, 2, 3 ,4

Cheers
RJB, Melbourne, Australia
//+------------------------------------------------------------------+
//| PivotP Daily.mq4 |
//| Plot Pivot Points |
//| |
//+------------------------------------------------------------------+

#property copyright "2005"

#property indicator_chart_window
#property indicator_buffers 5

#property indicator_color4 Red // R2
#property indicator_color2 Lime // R1

#property indicator_color1 Aqua // Pivot

#property indicator_color3 Lime // S1
#property indicator_color5 Red // S2

#define width 1


datetime BT[];
double YesterdayHigh[50];
double YesterdayLow[50];
double YesterdayClose[50];
double YesterdayOpen[50];

double PivotArray[];
double R1Array[];
double S1Array[];
double R2Array[];
double S2Array[];
double R3Array[];
double S3Array[];

//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
// Pivot
SetIndexStyle(0,DRAW_LINE,STYLE_DOT,width);
SetIndexBuffer(0,PivotArray);
IndicatorShortName("Pivot_a");
SetIndexLabel(0,"Pivot");

// Resistance 1
SetIndexStyle(1,DRAW_LINE,STYLE_DOT,width);
SetIndexBuffer(1,R1Array);
SetIndexLabel(1,"R1");

// Support 1
SetIndexStyle(2,DRAW_LINE,STYLE_DOT,width);
SetIndexBuffer(2,S1Array);
SetIndexLabel(2,"S1");

// Resistance 2
SetIndexStyle(3,DRAW_LINE,STYLE_DOT,width);
SetIndexBuffer(3,R2Array);
SetIndexLabel(3,"R2");

// Support 2
SetIndexStyle(4,DRAW_LINE,STYLE_DOT,width);
SetIndexBuffer(4,S2Array);
SetIndexLabel(4,"S2");

ObjectDelete("R1 Label");
ObjectDelete("S1 Label");
ObjectDelete("P Label");

return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
ObjectDelete("R1 Label");
ObjectDelete("S1 Label");
ObjectDelete("P Label");

return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int counted_bars=IndicatorCounted();

ArrayCopySeries(BT, MODE_TIME);
ArrayCopySeries(YesterdayHigh, MODE_HIGH, Symbol(), PERIOD_D1);
ArrayCopySeries(YesterdayLow, MODE_LOW, Symbol(), PERIOD_D1);
ArrayCopySeries(YesterdayClose, MODE_CLOSE, Symbol(), PERIOD_D1);

int od = 0;
int dd = 0;

double Pivot;
double R1;
double S1;
double R2;
double S2;

for (int i = 0; i <= Bars; i++)
{
if (TimeDay(BT[i]) != od)
{
dd++;
Pivot = (YesterdayHigh[dd] + YesterdayLow[dd] + YesterdayClose[dd])/3;

R1 = (2*Pivot)-YesterdayLow[dd];
S1 = (2*Pivot)-YesterdayHigh[dd];
R2 = Pivot-S1+R1;
S2 = Pivot-R1+S1;

od = TimeDay(BT[i]);
}

PivotArray[i] = Pivot;
R1Array[i]=R1;
S1Array[i]=S1;
R2Array[i]=R2;
S2Array[i]=S2;
}

if ( ObjectFind("P label") == -1 )
{
ObjectCreate("P label", OBJ_TEXT, 0, Time[3], PivotArray[0]);
ObjectSetText("P label", " Pivot ", 8, "Arial", White);
}
else
{
ObjectMove("P label", 0, Time[3], PivotArray[0]);
}

if ( ObjectFind("R1 label") == -1 )
{
ObjectCreate("R1 label", OBJ_TEXT, 0, Time[3], R1Array[0]);
ObjectSetText("R1 label", " R1 ", 8, "Arial", White);
}
else
{
ObjectMove("R1 label", 0, Time[3], R1Array[0]);
}

if ( ObjectFind("S1 label") == -1 )
{
ObjectCreate("S1 label", OBJ_TEXT, 0, Time[3], S1Array[0]);
ObjectSetText("S1 label", " S1 ", 8, "Arial", White);
}
else
{
ObjectMove("S1 label", 0, Time[3], S1Array[0]);
}


return(0);
}
//+------------------------------------------------------------------+
//+------------------------------------------------------------------+
//| PivotM Daily.mq4 |
//| Plot Pivot Median Points |
//| |
//+------------------------------------------------------------------+

#property copyright "2005"

#property indicator_chart_window
#property indicator_buffers 4

#property indicator_color1 Gray // M1
#property indicator_color2 Gray // M2

#property indicator_color3 Gray // M3
#property indicator_color4 Gray // M4

#define width 1


datetime BT[];
double YesterdayHigh[50];
double YesterdayLow[50];
double YesterdayClose[50];
double YesterdayOpen[50];

double M1Array[];
double M2Array[];
double M3Array[];
double M4Array[];

//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{

// M 1
SetIndexStyle(0,DRAW_LINE,STYLE_DOT,width);
SetIndexBuffer(0,M1Array);
SetIndexLabel(0,"M1");

// M 2
SetIndexStyle(1,DRAW_LINE,STYLE_DOT,width);
SetIndexBuffer(1,M2Array);
SetIndexLabel(1,"M2");

// M 3
SetIndexStyle(2,DRAW_LINE,STYLE_DOT,width);
SetIndexBuffer(2,M3Array);
SetIndexLabel(2,"M3");

// M 4
SetIndexStyle(3,DRAW_LINE,STYLE_DOT,width);
SetIndexBuffer(3,M4Array);
SetIndexLabel(3,"M4");

return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{

return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int counted_bars=IndicatorCounted();

ArrayCopySeries(BT, MODE_TIME);
ArrayCopySeries(YesterdayHigh, MODE_HIGH, Symbol(), PERIOD_D1);
ArrayCopySeries(YesterdayLow, MODE_LOW, Symbol(), PERIOD_D1);
ArrayCopySeries(YesterdayClose, MODE_CLOSE, Symbol(), PERIOD_D1);

int od = 0;
int dd = 0;

double Pivot;
double R1;
double S1;
double R2;
double S2;
double M1;
double M2;
double M3;
double M4;

for (int i = 0; i <= Bars; i++)
{
if (TimeDay(BT[i]) != od)
{
dd++;
Pivot = (YesterdayHigh[dd] + YesterdayLow[dd] + YesterdayClose[dd])/3;

R1 = (2*Pivot)-YesterdayLow[dd];
S1 = (2*Pivot)-YesterdayHigh[dd];
R2 = Pivot-S1+R1;
S2 = Pivot-R1+S1;
M1 = (R1+Pivot)/2;
M2 = (Pivot+S1)/2;
M3 = (R2+R1)/2;
M4 = (S2+S1)/2;

od = TimeDay(BT[i]);
}
M1Array[i]=M1;
M2Array[i]=M2;
M3Array[i]=M3;
M4Array[i]=M4;
}

return(0);
}
//+------------------------------------------------------------------+

.....etc. Could you tell me how to insert experts into MT4 ?? thanks.

Read the whole thread but the latest version is here http://www.forexfactory.com/showpost.php?p=229672&postcount=44

Some folks swear by them, I do not.

You may draw random horizontal lines all over your charts and price is going to bounce around some of them. That does not make them significant.
The fact that everyone calculates them at different times belies the idea that "all the professionals use them". They cannot act as a standard price reference unless they are calculated by one standard, which they are not.

If you LIKE them, and you can use them profitably, that's great, but they are not necessary to anyone's methodology.

Thats just my two cents, I will not argue about it.

pivots combined with VWAP do a pretty good job of telling you which side of the market you should be on (short or long).

Every second trader is using Pivot and they are having their own calculation as per their knowledge of the market.