Different/Wrong Pivots. Who is correct? | Forex Factory

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Different/Wrong Pivots. Who is correct?

  • #1
  • First Post: Nov 1, 2009 5:44pm Nov 1, 2009 5:44pm
I check my THV3 Pivots v4 indicator (with my broker gmt setting, 0gmt target setting, and 1 on that fib setting), and it shows me my S1,S2, and S3 values.

But I check dailyfx dot com and it shows different values for the pivots.

Then I check fxstreet dot com and it shows values that are different from both previous two sources.

So which is the correct pivots? and how do pivots work if everyone is using different ones? wtf?
  • #2
  • Nov 1, 2009 10:26pm Nov 1, 2009 10:26pm
Check each server time according to GMT. A GMT +5 server will show different starting point --- hence different Pivot result --- than GMT +2 server.

The correct one is the one calculated according your trading time plus your broker time. For example: if your local time is GMT +5 and your broker time is GMT +2, when your local time reaches midnight (00:00), your broker still three hours away from it. You just have to adjust your starting point for pivot calculation, that's all.

On the other hand, if you trade during London session, most likely you got the wrong pivot point numbers if you calculate them from Tokyo or New York session.
  • #3
  • Nov 2, 2009 6:40am Nov 2, 2009 6:40am
Thank you, however I do have my settings offset the server time. Even assuming if I still have it incorrectly set up. TWO professional forex websites are reporting contradicting pivot values!? FXStreet and DailyFX.

Let's see.. TODAY's S1 for EURUSD according to DailyFX is.. 1.4650
But S1 for EURUSD according to FXStreet is... 1.4771
  • #4
  • Nov 2, 2009 6:58am Nov 2, 2009 6:58am
Quoting beastlord
But I check dailyfx dot com and it shows different values for the pivots.

Then I check fxstreet dot com and it shows values that are different from both previous two sources.

wtf?
Be careful. That's exactly how I found out Santa Claus wasn't real.
  • #5
  • Nov 2, 2009 7:07am Nov 2, 2009 7:07am
Hahaha...
  • #6
  • Nov 2, 2009 2:19pm Nov 2, 2009 2:19pm
Quoting beastlord
Thank you, however I do have my settings offset the server time. Even assuming if I still have it incorrectly set up. TWO professional forex websites are reporting contradicting pivot values!? FXStreet and DailyFX.

Let's see.. TODAY's S1 for EURUSD according to DailyFX is.. 1.4650
But S1 for EURUSD according to FXStreet is... 1.4771
Then calculate them yourself, kid. It will be as wrong as you yourself can get but no one else.
  • #7
  • Nov 2, 2009 4:32pm Nov 2, 2009 4:32pm
Well my understanding is that.. pivots work because many traders use them. So everyone is on the same page at the same price level, hence why price bounces there. So if traders are all using different values then how can they possibly work ?
  • #8
  • Last Post: Nov 2, 2009 5:31pm Nov 2, 2009 5:31pm
Quoting beastlord
I check my THV3 Pivots v4 indicator (with my broker gmt setting, 0gmt target setting, and 1 on that fib setting), and it shows me my S1,S2, and S3 values.

But I check dailyfx dot com and it shows different values for the pivots.

Then I check fxstreet dot com and it shows values that are different from both previous two sources.

So which is the correct pivots? and how do pivots work if everyone is using different ones? wtf?
You may have looked at the wrong fxstreet pivots. I did some digging around on their site, and here's a screenshot. You may have found the M15 pivots (on the top) when you were actually looking for the daily pivots (on the bottom). These daily pivots are more in line with both dailyfx and my own daily pivot points.

I see some other possible issues too, but I think this is the main culprit of the discrep . . .
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