Pivots and Summer Time

Hi,

Could some of the experienced traders tell me if pivots move during the Summer time periods or not.

By this I mean, if my daily pivots start at GMT 00.00 should I move them to 23.00 on my MT4 when it is BST.

If in the USA if my pivots start at 5.00 pm EST should I move them to 4.00 EST when it is EDST

Or do big banks etc just leave then the same all year round ? ( assuming they use them)

thanks

Only if your broker does not shift to daylight saving time at the same date that the time zone your pivots are anchored to. From my recollection, pivots worked best when they were set to be calculated at the NY close, so when it gets to 1700 in NY time do the a new set of PP's come out? If not, or they came out an hour early, adjust the start time from which the PP's are calculated so they fall on NYO. If you're basing them on the London Open, or whatever works for you, then do the same. Also, you might want to consider what price action suggests - if PP's really have value in determining potential S/R then the 'right' set shouldn't be too difficult to spot, should they?

Hi,

I was hoping I might get a broader cross section of opinions but thanks for your comment Birdt

I will continue my investigation.

sometimes it can be helpful to recalculate pivots at the beginng of each trading session, ie: London open, New York open, Asian session. That way they are current for the time frame you are lookiing at. It is especially helps in summer when volatility is high but volume is low.
But I wouldn't be concerend about the 1 hour time difference most brokers handle it fine!

Apologies, of course I meant 1600 NY time in my previous post in reference to the close of the US forex trading session.

Since I'm posting, I wonder if there is any statistical research on the validity of pivot points in markets in general, and perhaps in forex as compared to other markets due to the ambiguity of exactly when the pivot points should be calculated. I personally found that there were more reliable tools for deriving potential support and resistance levels and bias, but it would be interesting to see nonetheless.

I haven't seen any figures on viability of pivots , but do use them as a confirmation of targets derived from support and resistance and fib levels