Daily Pivot Point Trades

Quoting BongaBonga

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I just use the daily high, low, close. If the low was lower than the stop loss, it counts as a loss. If the high was higher than the tp, its a win. Just that basic information is all you need. With ~60% win rate and at worst a 1:1 R:R I just don't see how you can produce a graph like what you presented.

Using tick for tick data for accuracy on incorrect code is still incorrect.

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Quoting BongaBonga

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Are these the pivot values you got?

R1 1.3066
Pivot 1.3011
S1 1.2973
Close 1.3027

Since you are GMT+1 you would need to get your pivot points at 6am since midnight EST is 0500GMT. The bias for the euro today would have been towards buying.

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Quoting tranco

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Sorry but I think you don’t know much about back testing
the size of each bar is analyzed by ticks for accuracy and the pivots are calculated by HLC/3 etc etc

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Quoting tranco

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Sorry but I think you don’t know much about back testing
the size of each bar is analyzed by ticks for accuracy and the pivots are calculated by HLC/3 etc etc

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DHigh = NormalizeDouble(iHigh(NULL,PERIOD_D1,1),4);
   DLow = NormalizeDouble(iLow(NULL,PERIOD_D1,1),4);
   DClose = NormalizeDouble(iClose(NULL,PERIOD_D1,1),4);
   
   Pivot = NormalizeDouble(((DHigh + DLow + DClose)/3),4);
   R1 = (2*Pivot)-DLow;
   S1 = (2*Pivot)-DHigh;
   R2 = Pivot+(R1-S1);
   S2 = Pivot-(R1-S1); 
   R3 = ( 2.0 * Pivot) + ( DHigh - ( 2.0 * DLow ) );
   S3 = ( 2.0 * Pivot) - ( ( 2.0 * DHigh ) - DLow );

Quoting lhDT

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Well, there is nothing to understand with backtesting. You just test your EA that's all.
About ticks, there is no magic. You just trigger a trade with the "tick" is greater or lower than the pivot. Nothing fancy.

Here is what I use to calculate pivot, S&R.

[code]DHigh = NormalizeDouble(iHigh(NULL,PERIOD_D1,1),4);
DLow = NormalizeDouble(iLow(NULL,PERIOD_D1,1),4);
DClose = NormalizeDouble(iClose(NULL,PERIOD_D1,1),4);

Pivot = NormalizeDouble(((DHigh + DLow + DClose)/3),4);
R1 = (2*Pivot)-DLow;
S1 = (2*Pivot)-DHigh;
R2 = Pivot+(R1-S1);...

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Quoting BongaBonga

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How is what I did incorrect? Saying each bar is analyzed by ticks for accuracy is not an explaination of anything.

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Quoting tranco

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Use the EA and if you find some think incorrect reply
Before you use any kind of strategy back test it first 1st in strategy tester, then in demo account and then In a real account with small lots but there exist not a blind strategy you have to know

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Quoting BongaBonga

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I'll be honest with you, I'm not going to try your EA. You have been dismissive when asked for more information and that doesn't sound like what a professional would do. Leads me to believe you were dismissive of double checking the details.

I have my results on excel that pass the gut check. In other words, each and every bit of information that came out could logically be explained and double checked.

The first thing they teach you in math and science is to take a second and think about what your answer means. If you calculated your weight...

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Quoting lhDT

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Just a clarification : "if the Close (aka, the Open) was lower than the Pivot, then it was a short bias, higher meant a long bias."

You mean close the last day 23:59 or just before the start hour ?

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Quoting BongaBonga

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Yes you are correct on both statements. I'm not sure what you mean by start hour though. Maybe this will help though:

At 2359 on Tuesday (essentially midnight) we get:
High 1.3050
Low 1.2950
Close 1.2975
That gives us a pivot of 1.2991

At 0005 on Wednesday the price somehow is 1.2993. What is the bias?
The bias would be to sell since the close of the day was below the pivot. And you would set your pending sell order for the pivot price with a SL at R1.

Do NOT buy/sell if the price went past the pivot. Let it come to you. Since we have decided...

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Quoting Cgb

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Thanks for starting the dicussion Bonga. Going to play around over the weekend with an EA and try to add some visuals to it.

Cheers!

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Quoting dove_alliance

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I would like at this time to give each of you the mere importance of the Daily Pivot:

Floor traders and other professionals who do the actual buying and selling of futures contracts and other trading arena, including FX, in the trading pits of the exchanges, generally employ very similar system for valuing the price of such contracts in the absence of significant outside influences such as indicators. This system employs a method of calculating relative value based on the price activity of the prior day. A price equilibrium point is determined...

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