Pivot Trading

Thanks Davit - have also been watching UJ, so nice to know I'm on the right track.

Hey guys anyone advise on setting pivots...

I'm in the Uk I'm using Oanda which is 2 hours in front of me

The frustrating bit is I want to learn this strategy but if you can't get the platform / template setup correctly then its difficult to follow along with the great comments on here.. anyone advise?

Post #2867 should get you right. Make sure to read it completely.

Thanks LookLeft

I'll have a read.. again cheers

Same thoughts as you it'll move a little bit more up to take out old highs then drop using the increased liquidity from the stops resting there. patience is key with this trade i guess waiting for confirmation. "around the 104.690~700 area is sensitive if i'm seeing it right" lets hope for some nice pips here

Closed and reverse trade

Resistance area

In thinking how to make this work, what I suggest is that if anyone want to use my format, the best plate to start if Davit's pivot template. Essentially I only make one addition to the template, which is the Auto-pivot-plotter-weekly-V2 indicator and I then 'adjust' Davit pivot V2 for the pivot colours to match and to change the length of the lines.





Davits Pivot V2





Not looking to reinvent the wheel here - so I have made no modifications to the 'Start Candle' or ' Finish Candle' I use my brokers candle and this aligns perfectly with the Auto pivot plotter.

In terms of the colours follow the set-up in the screen shots attached;

weekly pivot - lime green
S/R 38 - magenta
S/R 61 - yellow
S/R 78 - red
S/R 100 - turquoise

also label colour - white for all S/R levels

Important part is to set the lines to a shorter length (as per the second screen shot) so;

Width of S/R line : 1
Line style : 0
Length of lines : 5
Shift to right : 1

Show all S&R - true
Short (default) price labels - true

That pretty much covers the amendments to Davits pivot indicator. The idea being to match up to the Auto-pivot-plotter as follows;

Auto-Pivot-Plotter-weekly-V2





So very simple - just match the colours for each S/R level to those of Davits indicator. Couple of points to note;
Auto pivot plotter only has S/R 38,61 and 100. So the other levels provided by Davits indicator (S/R 78, 138, 161 and 200) won't appear. Don't worry as most of the action is covered by the 61-100 zone.

When choosing the variables on the inputs tab;

Change to Fibonnaci - true
Show popup - true
(this actually notifies via a pop up on screen when price hits or touches each S/R level) very useful for assessing when to enter exit trades. For example if price touches R61 in UC; a pop-up will display the following '13:55 R2 pivot line touched on USDCAD' Can be very useful for waiting until the significant 61-100 zone is in play.

For reference;
S/R 38 - pop-up will say S/R 1
S/R 61 - pop-up will say S/R 2
S/R 100 pop-up will say S/R 3

The only issue I can see with the above, is where the brokers candle is adjusted, or the 'start' and/or 'finish' time of candle is adjusted. As I mentioned earlier, given that I don't amend my candles, both these indicators align perfectly.

I'd also recommend to add the above indicators to an existing Davit template and then amend the settings for each indicator as described above. You can always then save as an additional template, if the format works for your trading style.

Cheers

Closed. Loss Trade

i will watching EA chart before and after Dragi speech.. i want to clear out my position. hopefully.

Hey MCH I've been using your weekly auto plotter alongside Davits, and i find it to be almost perfectly aligned on some pairs, however i think the features being requested of the additional levels are important, and would appreciate if you have to know how to code them in. sometimes prices go beyond s/r 100 and i wanna know where the next key zone is by looking on the chart. Also the price levels of the s/r lines extending to the right with the labels is also good to reassure us that the pivots are being plotted correctly. Let me know if this is too much of an ask, i already appreciate what you have offered here in this thread. Thanks again.

Nice trading everyone,

Ive got some PM's asking about my previous trade on NU, hopefully this helps,

Apologies, small scaled the chart to show all the entries,

- 1st entry was taken at previous PP rejection,
- 2nd & 3rd entry was taken at a nice rejection as well as good TDI at 4H, The 1H TDI does not show this clearly. So zoom up and you will see.
- Today's entries are pretty self explanatory, nice rejection and TDI.

Dont be hasty in taking the trade. You dont have to buy and sell everytime you THINK you should. Note - Just closed the earlier two for 26+. Ive closed all the trades as the market seems choppy.

Cheers

MR

Sell UJ +45pips

And I'm out. Only one position still open.

Jz trying play with the edge from previous week and 2 weeks before..


1. I plot last week pivot (10 -14 Oct data) on Friday (Oct 21) before the market closed.. jz to know where the last price position at pivot.. --> In the EU pair, the price were at S61 and S78 pivot zone (orange color)
2. Then this week pivot (from 17-21 Oct or last week data), currently the price was at S38 --> thus I thought the price may be reversal, because it's already at the S78 from the (10-14 Oct) data...
I dont have any data yet whether this method could increase the win ratio... just my thought..

Todays trades not sure if there is much more down side in UJ

Closed all trades

Short AudCad