TheBramble
Legendary member
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So few people ask this question.
The location of your query doesn't indicate which asset class you're thinking of trading.
If your trading exchange based assets then the start-end times are fairly obvious.
If you’re trading a continuous market then you need to be using whatever start-end time the majority of the other players are using. Sound arbitrary? That’s because it is. LOL.
Almost all automatically calculated indicators for PP are based on the server time of your datafeed so you’ll have to modify as suits.
I’ve used EST, CET and GMT on FX in the past and they normally tend to locate in a fairly tight area as the ‘end’ times are only an hour apart, but obviously the width can vary depending on early Asian session activity. Some FX pairs seemed to ‘work’ better with one set than another, but none so conclusively I could tabulate any useful correlation. Perhaps others can elaborate if they have done more exhaustive research.
If you’re going to use Pivots I’d recommend the Weekly and Monthly as useful additions. Not to mention those magic Frankfurt-London Opening levels.
The location of your query doesn't indicate which asset class you're thinking of trading.
If your trading exchange based assets then the start-end times are fairly obvious.
If you’re trading a continuous market then you need to be using whatever start-end time the majority of the other players are using. Sound arbitrary? That’s because it is. LOL.
Almost all automatically calculated indicators for PP are based on the server time of your datafeed so you’ll have to modify as suits.
I’ve used EST, CET and GMT on FX in the past and they normally tend to locate in a fairly tight area as the ‘end’ times are only an hour apart, but obviously the width can vary depending on early Asian session activity. Some FX pairs seemed to ‘work’ better with one set than another, but none so conclusively I could tabulate any useful correlation. Perhaps others can elaborate if they have done more exhaustive research.
If you’re going to use Pivots I’d recommend the Weekly and Monthly as useful additions. Not to mention those magic Frankfurt-London Opening levels.
galeonbaster
Junior member
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Try the NY close - 5pm EST - now EDT - that's 108 5 min bars ago - IMO its the most used time and thus most helpful.
You'll find that price frequently turns around the levels that this generates.
You'll find that price frequently turns around the levels that this generates.
isatrader
Senior member
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Here's a few links you might find useful.
Livecharts is excellent for the pivots
http://www.livecharts.co.uk/Members/display_commodity_pivots.php
Pocrels thread in the journals section
http://www.trade2win.com/boards/trading-journals/120484-pin-bar-system.html
Livecharts is excellent for the pivots
http://www.livecharts.co.uk/Members/display_commodity_pivots.php
Pocrels thread in the journals section
http://www.trade2win.com/boards/trading-journals/120484-pin-bar-system.html
