Pivot indicators - page 67

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kfma8899:
ok madlen it will be only start hour

kfma8899

It would serve no practical purpose at all. Weekly data is day bound not hourly bound

 
mladen:
kfma8899 It would serve no practical purpose at all. Weekly data is day bound not hourly bound

i will show you the practical purpose

let's talk about weekly camarila pivot

if you look at gbpaud last week if you remember there was a gap

so the weekly camarila h3 and h4 of fxcm and fxdd and lite forex metatrder platforms

differ from the weekly camarila h3 and h4 of gain capital ie forex.com and forexyard

and also differ from weekly camrila h3 and h4 of fx solutions and oanda and boston merchant financials

so if you are scalper you can open sell order at h3 of weekly camarila of fxdd metatrder

then open sell on h3 of weekly camarila of gain capitla metatrder

then open sell order on h3 of weekly camarila of oanda metarder

so you can play on sell from weekly camarila h3 three time using the different beginning of the week of three metatrders

and it is not only about camarila all different types of weekly pivot for gbpaud last week will be different also

and here is three photos for gbpaud weekly camarila for three differnt metatrders last week

and it is not only about the different three begining of those brokers and you can also calculate weekly camarila on the open time of london and new york

i hope i convinced you with my idea

i wait your reply and hope any programer make weekly camarila with option in its inputs about weekly start 00;00

instead of looking at different metatraders

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gbpaud_oanda.jpg  125 kb
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About that matter all I can say that I disagree, Sorry. The changes are marginal and in the end, since pivot type indicators (since you switched from pivots to camarilla in your latest post) are never used as signal indicators (whoever tries to use those as signals is doing a huge mistake), a couple of pips here or there will not change anything significantly

It has been tried on lower time frames (daily mainly, which is the original time frame for pivot indicators) and the results were anything but what the users of such modified indicators were expecting. On a weekly time frame changes would be even more marginal. But I am sure you will manage to find a pivot (or camarilla or anything similar) appropriate for your needs

all the best

 

Mladen, if it is not private for you please can you share your pivot indicator

 
tomitom06:
Mladen, if it is not private for you please can you share your pivot indicator

tomitom06

All the pivots I made were made at requests and they are all available for download here on TSD

But also, I do not use pivots in my trading. Stopped using them when realized how to pivots they added middle lines, then middle middle lines, then middle middle middle lines ... just in order to make the odds that some line will get hit by price changes and then someone will tell "see how it predicted". Draw arbitrary 30 horizontal lines on the chart and I bet you that at least 5 are going to behave as support and resistance

 
mladen:
tomitom06

All the pivots I made were made at requests and they are all available for download here on TSD

But also, I do not use pivots in my trading. Stopped using them when realized how to pivots they added middle lines, then middle middle lines, then middle middle middle lines ... just in order to make the odds that some line will get hit by price changes and then someone will tell "see how it predicted". Draw arbitrary 30 horizontal lines on the chart and I bet you that at least 5 are going to behave as support and resistance

Thanks for the insight mladen. Please keep them coming

 
mladen:
tomitom06

All the pivots I made were made at requests and they are all available for download here on TSD

But also, I do not use pivots in my trading. Stopped using them when realized how to pivots they added middle lines, then middle middle lines, then middle middle middle lines ... just in order to make the odds that some line will get hit by price changes and then someone will tell "see how it predicted". Draw arbitrary 30 horizontal lines on the chart and I bet you that at least 5 are going to behave as support and resistance

best description of pivots I have found so far

 

Guys, please do no misunderstand my post about pivots

They were OK and are OK if used as it was intended in the first place (the shortest definition of pivot point indicator is "The pivot point itself is simply the average of the high, low and closing prices from the previous trading day" - no mystery about it). So, as a kind of bullish / bearish indicator it is OK (to have a quick view of what kind market are we trading currently)

But static pivots as support / resistance are losing their purpose in the market as it is now. Here is just one simple example how a different approach to support / resistance can be used with new PCs and new ways of calculation :

And that is just one quick example out of many available now

That is why I told what I told about pivots : no additional lines can substitute dynamic support / resistance approach that we can use now when we all have computers. Keep in mind that pivots are very old and that at that time they were practical for the simplicity of calculation that could be done without an aid of computers. Now the times are different and we should use the good that came with this new times (not all that is new is bad )

Files:
sr.gif  78 kb
 
mladen:
Guys, please do no misunderstand my post about pivots

They were OK and are OK if used as it was intended in the first place (the shortest definition of pivot point indicator is "The pivot point itself is simply the average of the high, low and closing prices from the previous trading day" - no mystery about it). So, as a kind of bullish / bearish indicator it is OK (to have a quick view of what kind market are we trading currently)

But static pivots as support / resistance are losing their purpose in the market as it is now. Here is just one simple example how a different approach to support / resistance can be used with new PCs and new ways of calculation :

And that is just one quick example out of many available now

That is why I told what I told about pivots : no additional lines can substitute dynamic support / resistance approach that we can use now when we all have computers. Keep in mind that pivots are very old and that at that time they were practical for the simplicity of calculation that could be done without an aid of computers. Now the times are different and we should use the good that came with this new times (not all that is new is bad )

mladen

is that step ma pdf?

 
sebastianK:
mladen is that step ma pdf?

Yes, that is the latest step ma pdf

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