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The Pivot Net Revisited (Weekly Pivot Net)

  • #21
  • Dec 10, 2009 9:14am Dec 10, 2009 9:14am
[quote=blueace;3296641]
Quoting ozziedave

Yes I trade with Oanda so I can place these types of orders. I disagree with the new US regulations and why they were implemented.
I also able to place limited Buy and SELL at the same time on IBFX

and that's US broker.. Though you cannot place SELL if BUY already OPENED

and vise versa, but Limited orders no problem, which ever triggered first,

the other you can cancel manually.
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  • #22
  • Dec 10, 2009 9:27am Dec 10, 2009 9:27am
Quoting SkyzerFX
3 questions I have:

#1 I found that table of weekly pivots on the website is there any Indicator

maybe, which

can Actually calculate and draw those lines?

#2 "The R1 and S1 are the entries" On R1 you placing "BUY"

and on S1 you placing "SELL" or vise versa? What orders exactly placed?

#3 You are saying,...
1. There sure is an indicator. I use ST-Pivot Points. Just search FF you'll find it. But you'll have to adjust it to go with your brokers clock. For example on Alpari the settings are 2 and 0.

2. Yes you're right on the entries. At R1 you buy and S1 you sell.

3. Again you got it the first time with canceling the opposite order. If a short on GJ triggers (as the the case right now) then the long on GJ is canceled and it has nothing to do with the pending UJ orders. So yes you can have a UJ and a GJ order open at the same time.
  • #23
  • Dec 10, 2009 9:28am Dec 10, 2009 9:28am
I set one screen up GBPJPY just to see the logic

And took those weekly pivots from auctionforex

I don't know really, I don't see how pair can drop from S1 to S2 in

my example (Lime line is the Pivot) I'd say more logical would be

Place sell 100 pips below pivot and BUY 100 pips above pivot, otherwise

you'll need monster move to 138.29 TP S2 line, I don't think it's possible (down candle already too big).. Look:
Attached Image (click to enlarge)
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  • #24
  • Dec 10, 2009 9:28am Dec 10, 2009 9:28am
[quote=SkyzerFX;3296733]
Quoting blueace

I also able to place limited Buy and SELL at the same time on IBFX

and that's US broker.. Though you cannot place SELL if BUY already OPENED

and vise versa, but Limited orders no problem, which ever triggered first,

the other you can cancel manually.
That's great to know that some brokers can still do that. I was under the impression that none of them could. Since Oanda has offices in other countries they are able to bypass the new NFA rules.
  • #25
  • Dec 10, 2009 9:31am Dec 10, 2009 9:31am
Quoting SkyzerFX
I set one screen up GBPJPY just to see the logic

And took those weekly pivots from auctionforex

I don't know really, I don't see how pair can drop from S1 to S2 in

my example (Lime line is the Pivot) I'd say more logical would be

Place sell 100 pips below pivot and BUY 100 pips above pivot, otherwise

you'll need monster move to support your theory.. Look:
Some weeks they are very far apart yes. But this is the system and I've traded it for quite some time. Feel free to make your own version. I know what works as far as the WPN goes. I've tried quite a few versions of it and I found the more simple the more effective.
  • #26
  • Dec 10, 2009 9:32am Dec 10, 2009 9:32am
Quoting SkyzerFX
I set one screen up GBPJPY just to see the logic

And took those weekly pivots from auctionforex

I don't know really, I don't see how pair can drop from S1 to S2 in

my example (Lime line is the Pivot) I'd say more logical would be

Place sell 100 pips below pivot and BUY 100 pips above pivot, otherwise

you'll need monster move to 138.29 TP S2 line, I don't think it's possible (down candle already too big).. Look:

Another note...
If you set up the St-Pivot Point Indicator you can quickly visually backtest and see the logic behind this system.
  • #27
  • Dec 10, 2009 9:35am Dec 10, 2009 9:35am
Just looking at the screen I'd move the bottom S2/TP line to

about here:

But thank you for explaining everything.. Since you making $$$ it should work.. I'd play with this
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  • #28
  • Dec 10, 2009 9:39am Dec 10, 2009 9:39am
Quoting SkyzerFX
Just looking at the screen I'd move the bottom S2/TP line to

about here:

But thank you for explaining everything.. Since you making $$$ it should work.. I'd play with this
No problem at all. Best of luck.
  • #29
  • Dec 10, 2009 4:46pm Dec 10, 2009 4:46pm
Quoting SkyzerFX
I don't think it's possible (down candle already too big).. Look:
The bigger the down candle the more likely it is to continue going down.

There is a TP at S2 but we still close out our position at the end of the week wherever it ends up.
  • #30
  • Dec 10, 2009 8:43pm Dec 10, 2009 8:43pm
Quoting pi piper
The bigger the down candle the more likely it is to continue going down.

There is a TP at S2 but we still close out our position at the end of the week wherever it ends up.
pi piper glad to see you're still with me. seems like WPN/TAG hit a wall for a while when you started up with me. Things are looking up again. But we had a boring 2.5 months that's for sure.
  • #31
  • Dec 10, 2009 9:09pm Dec 10, 2009 9:09pm
Hi Guys,

Here is a weekly pivot indicator that shows the current weeks pivots and previous weeks pivots. The only draw back is that it calculates the pivots based on your platforms time feed and can't be adjusted. If you have a GMT platform or one that is say GMT+1 the pip difference is marginal in the calculation. My platform is GMT+1 and when I compared to the Weekly pivots on the Action Forex website they are off only a few pips. The best chart is 4hr so it contains the entire weeks movement and you can see previous weeks at a glance. I've looked a dozens of pivot indicators and I can't seem to find one that calculates weekly pivots and lets you adjust for start of day time.
Attached File(s)
File Type: mq4 Floor_Pivots_Weekly.mq4   6 KB | 829 downloads
  • #32
  • Dec 10, 2009 10:50pm Dec 10, 2009 10:50pm
Quoting ozziedave
Hi Guys,

Here is a weekly pivot indicator that shows the current weeks pivots and previous weeks pivots. The only draw back is that it calculates the pivots based on your platforms time feed and can't be adjusted. If you have a GMT platform or one that is say GMT+1 the pip difference is marginal in the calculation. My platform is GMT+1 and when I compared to the Weekly pivots on the Action Forex website they are off only a few pips. The best chart is 4hr so it contains the entire weeks movement and you can see previous weeks at a glance. I've...


hey ozziedave I appreciate your willingness to help and for the indicator.

On my original thread is the indicator that I use

http://www.forexfactory.com/showthread.php?t=102967

The St-Pivot Point indicator which will let you adjust for the start of the day. It also has the option to set daily PPs or Weekly. Obviously for this system you would use the weekly.

Pivot Set at 2 is for weekly and 1 is for daily.
  • #33
  • Edited 2:00pm Dec 11, 2009 7:33am | Edited 2:00pm
Quoting blueace
hey ozziedave I appreciate your willingness to help and for the indicator.

On my original thread is the indicator that I use

http://www.forexfactory.com/showthread.php?t=102967

The St-Pivot Point indicator which will let you adjust for the start of the day. It also has the option to set daily PPs or Weekly. Obviously for this system you would use the weekly.

Pivot Set at 2 is for weekly and 1 is for daily.
Hi blueace...

Loaded up your pivot point indy and set it to weekly and it matches mine which is set to calculate according to the platform time feed. I changed the day start hours and no matter what you change them to it doesn't recalculate and change the weekly pivots. So maybe since we're using weekly pivots it doesn't matter when your day start time is set at. Would make sense since the only start of the day time it could possibly use is Monday. Either way my pivot indy shows the same weekly pivots as yours.
  • #34
  • Dec 27, 2009 11:33pm Dec 27, 2009 11:33pm
For those of you who have poked your nose around this short thread just wanted to let you know that trading the WPN this year alone at 2% risk per trade along with the TAG method turned out +105%.


Looking forward to another great year!
  • #35
  • Dec 28, 2009 9:37pm Dec 28, 2009 9:37pm
I have been researching more about weekly pivot system. With weekly entry, it gives a trader time to persue an intense full time career.

I dont like sitting at home all day and doing overtrading.

Thanks blueace..i am studying your system, mixing it with my own thought process to arrive at a suitable system as per my need.

You have done very well in year 2009- 105% + return with minimum stress !
  • #36
  • Dec 28, 2009 10:30pm Dec 28, 2009 10:30pm
Quoting kingfisher
I have been researching more about weekly pivot system. With weekly entry, it gives a trader time to persue an intense full time career.

I dont like sitting at home all day and doing overtrading.

Thanks blueace..i am studying your system, mixing it with my own thought process to arrive at a suitable system as per my need.

You have done very well in year 2009- 105% + return with minimum stress !
My pleasure. I hope my methods can help you achieve your trading goals.

Best of luck!
  • #37
  • Feb 22, 2012 11:04am Feb 22, 2012 11:04am
This approach looks pretty good to me. I've lost a lot of money blindly trading systems on lower time frames - the usual story. It's been a real education and I've learned that, for me, the longer time frames are more solid. Anyone still trading this?
  • #38
  • Edited 10:45pm Aug 10, 2018 10:20pm | Edited 10:45pm
Quoting blueace
For those of you who have poked your nose around this short thread just wanted to let you know that trading the WPN this year alone at 2% risk per trade along with the TAG method turned out +105%. Looking forward to another great year!
Hello bluace,

Quite an interest in Pivots trading here lately, so just wondering if you still take these setups occasionally perhaps?

This week was a winner as you probably know, at least GBPJPY was, USDJPY not so much, but that has been terrible for so long

Does anyone even bother to trade those 2 strong currencies against each other?

Some questions come to mind which didn't even get asked yet in the thread, such as:

What if it doesn't close out by Friday? Do you just close in profit / loss where it is before the close?

Oops, someone did ask that; yes, close before the weekend !

What if there is a loser and the entry signal appears again? Do you take another trade in the same direction or even opposite direction?

I will post charts of those situations, meanwhile check out these easy 90 pips! Entry on Wednesday Frankfurt open and profit before New York open

Doesn't get any easier than that

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  • #39
  • Edited Aug 11, 2018 12:18am Aug 10, 2018 10:34pm | Edited Aug 11, 2018 12:18am
So it's not GJ or UJ but what the heck, it's pivots and it's Forex

Here is a case of where you take a trade and pat yourself on the back for grabbing the pips at S2 as per the plan

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Then you get the case of, darn, why didn't I stay in that trade and get 150 pips instead of only 50?

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  • #40
  • Aug 10, 2018 10:52pm Aug 10, 2018 10:52pm
In case anyone is wondering, the Chart Symbol Changer is available FREE in the Market

And if you don't know how to use the Market, well, you don't know how to use Metatrader yet

Sure make it easy to quickly check all your charts in 4 hour or even 1 hour time frame!

Good luck all

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