Pivot Trading with TudorGirl Indicator on any pair on 5 min timeframe

Pivot Trading with TudorGirl Indicator on any pair on any timeframe.

Hi

I have been noticing a pattern develop using the indicators below and find it very easy and clean to use on any currency pair and take profit for 30-50 pips per pair. I am opening this thread to learn, develop and to use this pattern successfully.

Anyone willing to help and analyse are most welcome. Also looking to develop an EA at a later stage once we have found out how profitable this strategy is. Please take time to read the first few pages of this thread and do not ask for answers which have been already asked so that this thread does not become cluttered with unnecessary information.

Although i am using this only on 5 min, this strategy can be used on anytime frame.

Attaching the indicators , template file and some examples.

Indicators
==========
Auto Pivot
HG_0001a Indi by TudorGirl

Rules of Entry & Exit For Long Trade
=============================
1. Price closes above a pivot point e.g Daily Pivot / Daily R1 / Daily S1 etc

2. HG_0001a Indi indicates blue on the first bar

3. Enter after the close of the first blue bar.

4. Close for 50 pips or at next pivot level or when HG_0001a indi changes color.

Rules of Entry & Exit For Short Trade
=============================
1. Price below a pivot point e.g Daily Pivot / Daily R1 / Daily S1 etc

2. HG_0001a Indi indicates Red on the first bar.

3. Enter after the close of the first red bar.

4. Close for 50 pips or at next pivot level or when HG_0001a indi changes color.

Stop loss is subjective and i have kept it personally at 20 pips below or above the immediate pivot.

I am a good fan of pivots. Wishing you and all of us all the best.

Thanks

Harry

Nisha one quick question

1. Candle closes above pivot and indi is already blue. Then what to do ?
Thanks

from what i have noticed, its depends on whch bar the indi is still blue, i would prefer to take it if it was within 2-4 bars maximum. Thou this is not set in stone, but i have usually taken within this bars.

What i have laid out here is the safe trading zone, aggressive traders can take it below/above pivot points if there is a color change, for example if price closes above S1 and color has changed to blue, then i can take a long trade and vice versa

?

You can't enter on the open of a blue bar. You don't know the bar's final color until it closes.

yeah, it was a typo, made changes to post 1

does this indicator repaint?

not this, the MTF one does,

Hi Everyone

I am very happy that Nisha has opened this new thread to use my Single Time Frame (STF) indy in such a neat and simple way.

Please support Nisha by abiding by the rules of the thread. Nisha is a great guy and an innovative trader and I hope this system works well for you!

Anne

Hi

have subscribed so will get the updates will read through tomorrow..

Tight lines

paulus

Hi All,


I was watching Paulus' TrendMagic System last night and added Intraday Pivot Points to the screen to show some Support/Resistance levels . Just by using TrendMagic Indy and BBMACD to confirm direction after a break of Pivot level looks to be very high probability trade set up on 5m or 15m.
If price closes above Pivot level and TrendMagic indy and BBMACD confims with same color go long , reverse for going short. Look to next Support/Resistance level for 1st profit target .

Thanks Nisha4x for staring this thread and to Paulus for the original TrendMagic System and TudorGirl for going above and beyond the call of duty programming her wonderful indicators .


Best in Life ,

EZ Trades

Hi EZ

Right on!! But you should realise that the STF indy just combines the TrendMagic and the BB-MACD in exactly the way you describe!

So Nisha's setup does exactly what you want but with a really clean chart!

Anne

Hi Anne ,

I kinda like the TrendMagic indy in chart window running along with price to act as support/resistance. This may sound crazy , but the STF indy almost makes the chart " too clean" if thats possible ? LOL !!! Never thought I'd hear myself say that ! As long as they give the same results I'm happy displaying them separately . Thanks for all your hard work and willingness to share with other traders . Thanks to Paulus as well for sharing this wonderful trading system.

Best in Life ,

EZ

What good is a Daily pivot on a 5 min chart?

You would be much better off using this fibo pivot with some fibo retracements.

The pivot indi will not install on my charts.

Sorry, ignore that.

Hi Rastaman ,


I like to show intraday pivot points on the 5M or 15M instead of Daily Pivot points . I agree that the daily wouldnt play a big role on small timeframes.



EZ

The daily pivots may have a role to play but only on the macro scale and the occasional micro scale. As my acupuncturist used to say about western medicine, "It is like looking at the moon through a microscope" !
And he was blind! Really! LoL

alright guys, use the indicator on GBPJPY 1H chart, enter buy on first blue , enter sell on first red. If change to yellow hold on to the trade, if change to other color exit.

I don't know where to TP but there are times it can go over 800 or even 1000 pips profit.

The best part, HG_0001a indicator doesn't repaint.

btw, you don't wanna see what the daily chart can do !

anybody wanna make an EA to test it out ?

pivot point magic.
They are like magnets.
gonna test drive.
will be back, at least that's the plan, but anything can happen....