Pivot Points

Posted By cloud Monday, December 14, 2009
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cloud
 Posted Monday, December 14, 2009
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Has anyone tried to use the Pivot Points indicator from the Code Library? Does it really show support and resistance levels well? I need such kind of indicator to use it in my strategy. Can anyone give me advice?

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Best regards,
Edward Wegert
Stephan
 Posted Wednesday, December 16, 2009
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Not a bad indicator, however, I usually combine it with Movings and oscillators, in order to be safer Smile
ray
 Posted Sunday, December 20, 2009
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Unfortunately it works using only daily values. I wish I had the same indicator, but with the opportunity to indicate the period.
ViennaCalling
 Posted Monday, January 18, 2010
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I've found that it doesnt work properly when a new trading week starts and becomes better the 2nd day of trading, but the S/R lines aren't close to what some websites quote.

Happy Pipping!

"Money isn't everything, but it sure helps alot!"
http://forextaurus.blogspot.com/
frad
 Posted Thursday, January 21, 2010
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What is the difference, Gregor?
(I am not very strong in technical analysis Ermm )





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Frank Adkins
Thursday, January 21, 2010 by frad
ViennaCalling
 Posted Saturday, January 23, 2010
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The pivot points I find on other sites seem to be more accurate. Maybe it's the way they're being calculated and the weekend and lack of weekend data throws these ones off?

Happy Pipping!

"Money isn't everything, but it sure helps alot!"
http://forextaurus.blogspot.com/
ray
 Posted Monday, January 25, 2010
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The calculation formulas look correct. Do you know what formulas are used on other websites?
I guess the problem originates fro the data used for calculation.
ViennaCalling
 Posted Friday, February 05, 2010
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I found the pivot points to be somewhat off... and since I like the pivots at http://www.mataf.net/en/tools/pivot-points I've rewritten that pivot indicator to accept manual pivot entries.

All you need to do is set the values for the pivots. The default numbers are for today's GBPUSD pivots... just change them for your currency for whatever given date. Beats putting horizontal lines on the charts and having color to differentiate between S&R Lines is great!



Happy Pipping!

"Money isn't everything, but it sure helps alot!"
http://forextaurus.blogspot.com/
 PivotPointsManual.act (244 views, 2.54 KB)
scriptor
 Posted Monday, February 08, 2010
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Very interesting implementation. Smile Reminds me of the Fibonacci Levels for some reason.
Thanks a lot, Gregor!





Sincerely,

Benjamin Hoover
sniper
 Posted Wednesday, February 10, 2010
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Thanks for your Pivot Points, Gregor!

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