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  • pivot point calculation

    what is the correct time to calculate the pivot point
    5PM EST
    or
    Midnight EST
    thanks

  • #2
    Re: pivot point calculation

    There is no right or wrong.

    5 PM is the close of US market and the start of Asia market.
    Midnight EST is the start of London market.
    The different in them is Asian market, where prices moves in small range. So although it will be different in pivot, both will somewhat near most of the time.

    I myself stick with my broker. Don't really pay attention about the time coz I don't use pivot.

    Boris & Kathy use 5PM though. They said, it's better coz the busy markets (eu,gb,us) are basically closing and the slow market is starting. So, they like the daily candle to close at 5PM

    Well, it's up to you.

    Regards,

    Comment


    • #3
      Re: pivot point calculation

      thank you very much William
      can you please tell the reason that you are not use pivot point for your trading toolbox, I just want to learn from you, for myself I notice for a while that price below the center pivot tend to go up and price above the center pivot tend to go down, another world, if the price trade below the center pivot I will look for long only, if the price trade above the center pivot I will look for short only. Am I correct? I just want to learn from you
      thanks

      here my trading strategy
      I set both MACD 12,26,9 at 60M and 240M on the 15M chart
      daily pivot
      long
      both macd positive price move up from (s1 s2 s3 )below center pivot
      short
      both macd negative price move down from (r1 r2 r3)above center pivot

      Comment


      • #4
        Re: pivot point calculation



        It's just me. Even though I understand the concept about pivot, piv fib, s&r, but I don't seem to be able to use it to trade. I can't react if the price is stalled or piercing the lines. It's just me, an *****.

        I use a modified nina most of time on m30. iGor SDL modified on M15. Kathy's MAMA-CD on H1 (temporarily, I can't seem to find a good one on H1). Bielcomp's Rainbow MA on H4. Basically I love Moving Averages and only use them on different TF with basically 50 and 100 periods' setting.

        Seems a lot and confusing huh Well, the H4 is for trend and feeling of the market. M30 is the main. M15 for entry and trail stop. H1 is currently only acting as beautiful ornament

        However, my most successful trades are based on rectangle break out. Such as today I put straddle at 1.3510 and 1.3580. The 1.3580 got hit and within an hour I exited around 50 pips because of the shooting star candle formation on M30 (my main TF). Small win, but it's a win a money i'll accept anytime.

        How to identify the break out? Zoom in from H4 to M15. H4 first and move down to M15. As you can see there are practically 3 consecutive bars of ranging price on H4, that's practically 12 hours. Market is indecisive for 12 hours. Just put the straddle and most of the time, it's a high probability trade except you encounter high volatility news.

        Regards,

        Comment


        • #5
          Re: pivot point calculation

          One more thing.

          If you like MACD, perhaps you could try Gerard Apple (the inventor of MACD) settings.

          He uses on the same TF but with different setting:
          6-19-9 (short)
          12-26-9 (medium)
          19-39-9 (long)

          His trading system seems like a combi between short macd and long macd. Sometimes short-medium or medium-long. But from the book, most of his charts (stocks, daily chart) use short-long.

          He also uses ROC for filter. He uses ROC 10 & 21

          Well, haven't tested it though. I just saved it because these are the setting from the inventor, which I think is very important.

          Happy testing.

          Regards,

          Comment


          • #6
            Re: pivot point calculation

            I heard pivot should be counted according to our time not server's time is it true?

            Comment


            • #7
              Re: pivot point calculation

              Hi Myanyx..

              Like you and Locle, me too have ever confused with Pivot rules. But according to my experiences along with Pivot, I realized that William is right.

              There is no right or wrong to what time you chosen. The right thing is always consistent with your basic Time Frame Trading Plan.
              For example:
              I'm actively trade on NY Session, so I prefer to chose 17:00 NY Market Close as the end of the day. My broker IBFX uses 24:00 GMT as the closing day.

              So I suggest, first pick your time frame that suit you the best, and try to use consistent time for calculating your pivot. And I'm sure as like me, you will found your own answer about your Pivot time.

              Hope it will help.

              Comment


              • #8
                Re: pivot point calculation

                Thanks for response adrian,

                Btw do you use custom indicator or calculate pivot manually and draw the pivot manually on your chart?

                Thanks

                Comment


                • #9
                  Re: pivot point calculation

                  I usually calculate the pivot point manually using the excel spreadsheet. But there are many good pivot indicators which automatically draw the pivot line on MT4.

                  Comment


                  • #10
                    Re: pivot point calculation

                    Originally posted by adrian1974
                    Hi Myanyx..

                    Like you and Locle, me too have ever confused with Pivot rules. But according to my experiences along with Pivot, I realized that William is right.

                    There is no right or wrong to what time you chosen. The right thing is always consistent with your basic Time Frame Trading Plan.
                    For example:
                    I'm actively trade on NY Session, so I prefer to chose 17:00 NY Market Close as the end of the day. My broker IBFX uses 24:00 GMT as the closing day.

                    So I suggest, first pick your time frame that suit you the best, and try to use consistent time for calculating your pivot. And I'm sure as like me, you will found your own answer about your Pivot time.

                    Hope it will help.
                    Hi,
                    I have one thing to say. Pivot points come from pit markets. That means, stock traders were calculating it in the end of each trading day to have a picture, how could market act the next day. Stocks were centalized places with open time and close time for every single day. Forex market, is however, decentralized, and is traded 24 hours a day. So I don´t understand, where would be the point of using pivot points, if groups of traders calculate these points in different way... Markets are mostly calm during asian hours, but we know, how crazy it sometimes could be...If they do it this way, there´s extremely high probability, that pivots won´t work, because everyone has different pivots. On the other hand, majority of them calculates it at 00:00GMT. And now make a choice... :">

                    Comment


                    • #11
                      Re: pivot point calculation

                      Can you please explain what is ROC ?
                      Thanks.

                      Comment


                      • #12
                        Re: pivot point calculation

                        I think locle, try one of the automatic pivot point indicators. I use them on different platforms and am amazed how often price stalls or reverses at main levels.

                        Comment


                        • #13
                          Re: pivot point calculation

                          do you use custom indicator or calculate pivot manually and draw the pivot manually on your chart?

                          Comment


                          • #14
                            Re: pivot point calculation

                            What the best pivot calculation for monthly, weekly ?..need to lean swing study on entry base on pivot.

                            Comment


                            • #15
                              Re: pivot point calculation

                              5 PM is the close of US market and the start of Asia market.
                              Midnight EST is the start of London market.

                              Comment

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