Automatic Pivot Points

[Buk]

any note/article about using the pivots welcomed

take a browse thru this article/site, it might offer ya a few pointers (with accompanying annotations etc)....disregard all the 'sales glib' & bull**** - the charting examples might prove helpful, who knows?!


http://www.tradingsmarts.com/forextradingexamples2.htm

 

[kako]

thanks buk. of course one of most important things everyone surfing the net find out soon(specially about forex) is to find a "worth reading" thing to read!
don't take this badly, but one of things i like here on T2W(rather than moneytec) is this. here it's more than50%!
















did you Understand what i meant? >>>> (polite discussion) / (rubbish) ratio!

 

[Buk]

of course one of most important things everyone surfing the net find out soon(specially about forex) is to find a "worth reading" thing to read!

did you Understand what i meant? >>>> (polite discussion) / (rubbish) ratio!

understand completely.....for some strange reason, folks get the impression currencies (mainly due to their increased liquidity/intraday ranges) are easy peasy to trade.....and the increased media/shop touting exposure have merely added to this mis-apprehension.....they're no different to any other instrument, in that the trader still requires precise & accurate market knowledge, a well defined strat/plan & a tight risk/money management regime..........if not it's simply a quicker route to losing your pot than the alternative instruments!

 

[kako]

OFF TOPIC POST (sorry this is not mainly related to thread )

well, i trade in iran and our stock market is a little bit strange(there's odd limitation of price +/- 5% per day and other issues..) and because of that more people are convinced to trade foreign exchange.
of course it is a more riskier than stocks specially for those who don't know TA and market reactions. they just want to make profit but out of nothing(in their head). it's just crazy to think money(in your pocket) will make money(in trading).
as your signature says they're their own enemies!

 

[adrip1]

I'm looking for a charting software that automatically calculates and draws the pivot lines for F/X .Any ideas?

u dont need a software. p=(h+l+c)/3

 

[JMiller]

FXTrek's IntelliChart (Desktop Version) calculates pivot points automaticaly, and displays them on the chart for you.
If you calculate pivot points by hand/calculator instead, just be careful that you get the correct values for the HLC. I highly recommend that you use 5 p.m. EST as the start/end of the trading day, because that is the time that is most widely used by professionals/banks.

Good Trading,

James

 

[leeshindig]

you can get GBPUSD and EURUSD pivot points each morning posted on this news blog.............news is also in rss format if any of you aggregate news feeds.

http://www.forexrate.co.uk/news/


theres a good pdf on pivot points by Jayanthi Gopalakrishnan about how to use them at the bottom of this page..

http://www.livecharts.co.uk/PivotPoints.htm


Lee.

 

[gus]

Hi gus
I hope you see this post
I understand that R1 & S1 lines are but what about those CPR1 and CPS1 .....lines? Do you have any Idea about that?

another Question:
I've read an E-book about pivot-points that claims many traders in FX market using pivots everyday(!) and this is why prices accept those pivots as resistance and price action is faster near those prices.
I'm a little bit suspicious about this issue?! I think those Giant MarketMakers and BOLD brothers are making the big moves and i doubt that they use pivots in their market . what do you think?

regards
------------------
yaser

Sorry to be so long with a reply, but this week has been very busy. CPR1 & CPS1 lines on that chart were midpoint lines between the Central Pivot & R1 etc ...........gamma answered your other question. Sometimes these lines work and sometimes the don't . I like them on a 15 minute chart best.

 

[dick_dastardly]

With reference to working out daily pivot points.

Does anyone know the equation for calculating R3 and S3 ?

I know how to work out all the others but didn't know until recently that there were R3 and S3 levels.

thanks

dd

 

[kako]

hi dick
I wonder how you know to calculate R1 and R2 but don't know the R3
anyway here it is:


pivot:= (high + low + close) / 3;
r1:= 2*pivot - low;
s1:= 2*pivot - high;
r2:= pivot + (r1-s1);
s2:= pivot - (r1-s1);
r3:= high - (2 * (low - pivot));
s3:= low - (2 * (high - pivot));
sm1:=(pivot+s1)/2;
sm2:=(s1+s2)/2;
sm3:=(s2+s3)/2;
rm1:=(pivot+r1)/2;
rm2:=(r1+r2)/2;
rm3:=(r2+r3)/2;


for furthur info follow the link johnk49 posted :
http://www.moneytec.com/forums/showthread.php?threadid=9528&perpage=8&pagenumber=1

 

[dick_dastardly]

Kako

Can't remember where I found out about pivots ( might have been on this site somewhere ) but it only gave equations for R2, R1, PP, S1, and S2.

The sm and rm mid-points you specify are news to me as well.

I wonder who invents these things and what they are based on ?

Many thanks

dd

 

[kako]

hi
as i know, many traders trade and think based on this pivots as daily support&resistances. price rection is quicker near pivots.
rm & sm are midpoints between two pivots. I have a costum indicator for MT that draws them on the chart. if you want it mail me: yaser{at}sarmaye.com

cheers

 

[Ewuoso bernard]

i badly need a software that can calculate and draw daily standard pivot points, can anybody help. johnk49 could u please send me a link. u made a similar post some years back

 

[Nostradamus359]

I'm looking for a charting software that automatically calculates and draws the pivot lines for F/X .Any ideas?

got this for stocks...etc?

http://finviz.com/