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Pivot Trading

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  • Post #2,861
  • Quote
  • Sep 21, 2016 5:30am Sep 21, 2016 5:30am
  •  Davit
  • Joined Feb 2012 | Status: Member | 20,665 Posts
AC is at 100R good spot to build positions if you have not already
This should go to 96 next 2months if not earlier.
There is no failure except in no longer trying
  • Post #2,862
  • Quote
  • Sep 21, 2016 5:32am Sep 21, 2016 5:32am
  •  Davit
  • Joined Feb 2012 | Status: Member | 20,665 Posts
I know some of you are on EA I am still waiting for signs of turn around.So far PA is bearish and could test 100S
probability win factor is great on this.
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There is no failure except in no longer trying
  • Post #2,863
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  • Sep 21, 2016 5:39am Sep 21, 2016 5:39am
  •  Davit
  • Joined Feb 2012 | Status: Member | 20,665 Posts
I might get out on UC at WP cause it might spike up again and opportunity to reload
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There is no failure except in no longer trying
  • Post #2,864
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  • Sep 21, 2016 5:47am Sep 21, 2016 5:47am
  •  bulent
  • | Joined Nov 2009 | Status: Member | 307 Posts
Ha Davit,
Iam still holding aud nzd buy pozition just now do you have any aidia ? Thanks to your help.
  • Post #2,865
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  • Sep 21, 2016 5:51am Sep 21, 2016 5:51am
  •  Davit
  • Joined Feb 2012 | Status: Member | 20,665 Posts
Quoting bulent
Disliked
Ha Davit, Iam still holding aud nzd buy pozition just now do you have any aidia ? Thanks to your help.
Ignored
On my side I feel comfortable holding but I don't know your positions account size ect so I can't tell you what to do.
Some trades work out in hours and some might take a month.
regards
There is no failure except in no longer trying
  • Post #2,866
  • Quote
  • Sep 21, 2016 5:56am Sep 21, 2016 5:56am
  •  pipsniper007
  • | Joined Jun 2016 | Status: Member | 94 Posts
Quoting Davit
Disliked
I know some of you are on EA I am still waiting for signs of turn around.So far PA is bearish and could test 100S probability win factor is great on this. {image} {image}
Ignored

Strange pivot difference here
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  • Post #2,867
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  • Sep 21, 2016 5:58am Sep 21, 2016 5:58am
  •  NicoScholtz
  • | Joined Apr 2010 | Status: Member | 80 Posts
Thank you Davit for a very interesting thread. A number of people seem to use it very successfully.

I recently discovered this thread and downloaded the indicators and template and set up charts to match Davits. However like many others here, I am using an Australian broker (Pepperstone) with so called GMT+2 or New York Close timing. I know Davit said that he uses Oanda and it seems that he has a GMT-5 account and uses the brokers weekly candle for pivot calculations. The parameters of the pivot indicator were intended to overcome the broker timing differences and allow matching pivots from any broker, with of course minor differences for the pivot levels due to price bar differences.

Like many other here I could not manage to get my pivots to match Davits. I read the posts on how other people set their pivots but did not manage to get any logical or correct results.

I then examined the MQ4 code and found that the indicator will never yield pivots from a differently timed broker to match Oanda due to a bug in the indicator program code. If they do happen to match it is mere coincidence and not a repeatable result. I then corrected the code for personal use and am satisfied that it now works as intended but I was hesitant to post the corrections on this thread. However, after seeing yet another example of incorrect pivots and questions as to why the pivot levels are different, I decided to share. At least then all participants should have matching pivots as the pivot levels are a fairly important part of the success of the strategy!

The updated MQ4 file (updated to show the Version parameter as 3) is attached. I did not change the file name of the indicator on purpose as that would require the template to be updated as well.

I would also like to use this opportunity to clarify the use and meaning of the indicator input parameters (only those concerning the pivot values) as these do not seem to be documented and this also adds to the confusion of incorrect results.

Broker's Candle If this is set to True then the Open, High, Low and Close of the brokers candle for the selected (previous) period (D, W or M) is used to calculate the pivots for the current period and the next three parameters are totally ignored and have no meaning. If set to False then the next three parameters are used to define and highlight the (previous) pivot period.

Choose H1 Start Candle This is the starting date and time for the selected period (ie First Bar of the pivot period). Let us for this post assume a weekly pivot. In the case of a New York Close broker (ie such as Pepperstone) it should be set to the previous week Monday at 7:00. This can be verified but also makes sense that from GMT-5 to GMT+2 = 7 hours. This date does not roll over automatically and must be set every week.

Choose H1 Finish Candle This is the finish or end or closing or last candle of the period. It should be set for a New York Close broker to this week Monday at 6:00. This and the previous parameter then defines the week start and end from which the pivot values are calculated. Stating the obvious, this must also be adjusted every week. This also means that the rollover from one week to the next occurs at the start of Monday (00:00) according to Oanda time although the market opens earlier.

Display Start and End lines for manual settings Setting this to True will draw two vertical lines at the start and end of the pivot period which is useful while verifying the setup but can be set to False once you are happy that your pivots are set up correctly.

I attach a recent screenshot from Davit and one from my version to show the matching pivot levels. Differences in levels are due to price differences between brokers and should not exceed 3 to 5 pips maximum. If you have differences more than that, you may have the period start and end times set incorrectly.

Trade well!!
Nico
Attached File
File Type: mq4 Davits Pivot V2 - Copy.mq4   24 KB | 436 downloads
Attached File
File Type: ex4 Davits Pivot V2 - Copy.ex4   39 KB | 351 downloads

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Name: EURUSDDaily_Davit.png
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Name: EURUSDDaily_Nico.png
Size: 62 KB
Success is a marathon, not a sprint!
1
  • Post #2,868
  • Quote
  • Sep 21, 2016 6:07am Sep 21, 2016 6:07am
  •  Davit
  • Joined Feb 2012 | Status: Member | 20,665 Posts
Quoting NicoScholtz
Disliked
Thank you Davit for a very interesting thread. A number of people seem to use it very successfully. I recently discovered this thread and downloaded the indicators and template and set up charts to match Davits. However like many others here, I am using an Australian broker (Pepperstone) with so called GMT+2 or New York Close timing. I know Davit said that he uses Oanda and it seems that he has a GMT-5 account and uses the brokers weekly candle for pivot calculations. The parameters of the pivot indicator were intended to overcome the broker timing...
Ignored
Hi Nico
Welcome Thanks for taking your time to correct and share the indicator
You will find many Australian traders here and that should make you feel at home
Wish you the best
There is no failure except in no longer trying
  • Post #2,869
  • Quote
  • Sep 21, 2016 6:10am Sep 21, 2016 6:10am
  •  Davit
  • Joined Feb 2012 | Status: Member | 20,665 Posts
EG on the move
WP TP 8521
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There is no failure except in no longer trying
  • Post #2,870
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  • Sep 21, 2016 6:26am Sep 21, 2016 6:26am
  •  griffinssoul
  • Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
Quoting NicoScholtz
Disliked
Thank you Davit for a very interesting thread. A number of people seem to use it very successfully. I recently discovered this thread and downloaded the indicators and template and set up charts to match Davits. However like many others here, I am using an Australian broker (Pepperstone) with so called GMT+2 or New York Close timing. I know Davit said that he uses Oanda and it seems that he has a GMT-5 account and uses the brokers weekly candle for pivot calculations. The parameters of the pivot indicator were intended to overcome the broker timing...
Ignored
Nico!!!! u have done it!!!!! thnx like so much man - it was the high/low codes that i had wrong ........ bless u bro ......... can i plz put this on my Tech journal [http://www.forexfactory.com/showthread.php?t=518993] - i will refer to u
  • Post #2,871
  • Quote
  • Sep 21, 2016 6:29am Sep 21, 2016 6:29am
  •  griffinssoul
  • Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
Quoting Davit
Disliked
I might get out on UC at WP cause it might spike up again and opportunity to reload {image}
Ignored
superb trade'n as usual D
  • Post #2,872
  • Quote
  • Sep 21, 2016 6:31am Sep 21, 2016 6:31am
  •  NorthernFX
  • | Joined Sep 2016 | Status: Member | 61 Posts
Keeping my eye on AUD/USD, seems to be testing R78 level
  • Post #2,873
  • Quote
  • Sep 21, 2016 6:32am Sep 21, 2016 6:32am
  •  NicoScholtz
  • | Joined Apr 2010 | Status: Member | 80 Posts
Quoting griffinssoul
Disliked
{quote} Nico!!!! u have done it!!!!! thnx like so much man - it was the high/low codes that i had wrong ........ bless u bro ......... can i plz put this on my Tech journal [http://www.forexfactory.com/showthread.php?t=518993] - i will refer to u
Ignored
Hi griffinsoul - it is still your code so you are more than welcome to post or use as you see fit! Thank you for the original version!
Success is a marathon, not a sprint!
  • Post #2,874
  • Quote
  • Sep 21, 2016 6:32am Sep 21, 2016 6:32am
  •  Davit
  • Joined Feb 2012 | Status: Member | 20,665 Posts
Quoting griffinssoul
Disliked
{quote} superb trade'n as usual D
Ignored
Hey hey hey Nice surprise to see you here buddy.Missed you
feel free to drop in anytime bro
There is no failure except in no longer trying
  • Post #2,875
  • Quote
  • Sep 21, 2016 6:41am Sep 21, 2016 6:41am
  •  Davit
  • Joined Feb 2012 | Status: Member | 20,665 Posts
Quoting NorthernFX
Disliked
Keeping my eye on AUD/USD, seems to be testing R78 level
Ignored
Be mindful of the Feds today.Buying USD could become a losing scenario if rates stay the same which market anticipates.
There is no failure except in no longer trying
  • Post #2,876
  • Quote
  • Sep 21, 2016 6:51am Sep 21, 2016 6:51am
  •  Davit
  • Joined Feb 2012 | Status: Member | 20,665 Posts
Closed UC at 3150 +480pips
This might spike again and I may reload
Price stuck in range
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Name: USDCADM30.png
Size: 35 KB Click to Enlarge

Name: USDCADH4.png
Size: 36 KB
There is no failure except in no longer trying
  • Post #2,877
  • Quote
  • Sep 21, 2016 6:58am Sep 21, 2016 6:58am
  •  griffinssoul
  • Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
Quoting NicoScholtz
Disliked
{quote} Hi griffinsoul - it is still your code so you are more than welcome to post or use as you see fit! Thank you for the original version!
Ignored
many thnx 4 sharing Nico .......... there is no 1 on the planet that trades like Davit wit pivots - u will learn many tings
  • Post #2,878
  • Quote
  • Sep 21, 2016 7:01am Sep 21, 2016 7:01am
  •  griffinssoul
  • Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
Quoting Davit
Disliked
{quote} Hey hey hey Nice surprise to see you here buddy.Missed you feel free to drop in anytime bro
Ignored
hey D - just had some time 2 scalp this MN [normally on the H4 these days - no time 2 trade dat much ] ...... scalp'n on the TMS thread 4 now ..... how Green r u 4 the MN ?
Attached Image
  • Post #2,879
  • Quote
  • Sep 21, 2016 7:02am Sep 21, 2016 7:02am
  •  mraam
  • Joined Feb 2016 | Status: Member | 284 Posts
Quoting NicoScholtz
Disliked
Thank you Davit for a very interesting thread. A number of people seem to use it very successfully. I recently discovered this thread and downloaded the indicators and template and set up charts to match Davits. However like many others here, I am using an Australian broker (Pepperstone) with so called GMT+2 or New York Close timing. I know Davit said that he uses Oanda and it seems that he has a GMT-5 account and uses the brokers weekly candle for pivot calculations. The parameters of the pivot indicator were intended to overcome the broker timing...
Ignored
Great Job, Thanks Nico, Im sure this will help a lot of members here.

Cheers
MR
Silence your Ego & Your Power will Rise
  • Post #2,880
  • Quote
  • Sep 21, 2016 7:04am Sep 21, 2016 7:04am
  •  Davit
  • Joined Feb 2012 | Status: Member | 20,665 Posts
Quoting griffinssoul
Disliked
{quote} hey D - just had some time 2 scalp this MN [normally on the H4 these days - no time 2 trade dat much ] ...... scalp'n on the TMS thread 4 now ..... how Green r u 4 the MN ? {image}
Ignored
Getting close to 20% so far with 3% DD this month. I comfortably reached my 10% so anything more is gravy. My DD is mostly on AN which I feel confident of holding
Nice % brother wow 167% for this month? Wow Great job
There is no failure except in no longer trying
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