Basis of pivot point calculators

Hi,

My Australian broker feeds the data based on GMT+2.

I am trying to adjust daily pivots but I have a big question: what time should I use for the day cycle?

1. midnight EST - midnight EST
2. 5pm NY close EST - 5pm NY close EST
3. midnight GMT - midnight GMT

Daily pivots are meant to be based on the prior 24 hour trading day. So 5PM EST – 5PM EST has always made the most sense to me. This way it includes the prior Asian, European, and American sessions.

Tnx Pips_Cruiser

You're welcome, mate!

As Pips Cruiser stated 5 pm to 5 pm EST is the best. That's when the interest rate swap occurs, hence the end of the trading day. You will also find that the pivots used based on this time frame are much more accurate thatn any other 24 hour time frame.

The reason I asked this question is because I've seen plenty pivot indicators used by various people without adjusting to NY_CLOSE 5EST.

Ex: my broker is GMT+2, NY is GMT-5 => you need a GMT-7 just to shift timezone, then to identify ny open candle and ny close candle on H1 to proper calculate. Cannot use D1 because on GMT+2 candles on D1 are glued different that GMT-5 or other timezone.

Most of the time pivot indicators calculate PIVOTS in relation with server open/close (midnight). This is the problem.