Pivots and do you use them?

[kevinmcm]

How many traders use them on a daily basis? Are they part of your trading strategy or a secondary indicator to keep in mind?

For this week I will be making available pivot data for LSE, NAS, AMEX, NYSE on my site. Pivots are calculated on EOD H/L/C. Biased towards US as I cant get EOD data for european stocks other than LSE.

http://www.tradersoftware.biz/pivots/search.asp

Kevin.

 

[Directional]

I dont use pivots at all.

How do you decide whether the line on your chart is significant or not? if its just you looking at that particular line using that particular calculation to derive them, any significance it might have would be purely random.

 

[kevinmcm]

I dont use pivots at all.

How do you decide whether the line on your chart is significant or not? if its just you looking at that particular line using that particular calculation to derive them, any significance it might have would be purely random.

I'm not suggesting that anyone use pivots on there own. That would be plain silly. Thats why I'm asking if people are using them as part of a strategy or just something to be aware of. There are a multitude of indicators out there, any one of them on its own will be useless, its a case of picking what makes sense for you.

Kevin.

 

[forexmaestro]

I use pivot points based off of New York time. I love to use them especially during the New York session when news events come out. I can't count the times I have seen the price of a currency jump from one pivot to the next.

 

[Pat494]

As long as there is no major fundamental pressure such as a major news event I find the Dow will drift towards the pivot point and usually get there soon after the opening. So I find it is useful in variable and choppy markets.
I use a free website to calculate it but maybe someone knows the formula ???
I could put it into Metastock and have a better look at it.

 

[TheBramble]

Pivot Points
R2=pp+(H-L)
R1=(pp*2)-L
pp=(H+L+C)/3
S1=(pp*2)-H
S2=pp-(H-L)

Camarilla
HL4= (high-low)*1.1/2+close
HL3= (high-low)*1.1/4+close
HL2= (high-low)*1.1/6+close
HL1= (high-low)*1.1/12+close

LL1= close-(high-low)*1.1/12
LL2= close-(high-low)*1.1/6
LL3= close-(high-low)*1.1/4
LL4= close-(high-low)*1.1/2