How to Use Pivot Points!!!! - page 2
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Here is something interesting I found in the thread Newdigital posted and is worth reviving. This indicator shows S/R levels according to RSI levels.
More information can be found here (although not much more)
Waddah Attar RSI Level - MQL4 Code Base
I noticed there is already allot of information and strategies on pivots here at forex-tsd - what makes this one different?
I noticed there is already allot of information and strategies on pivots here at forex-tsd - what makes this one different?
Well, it is all about improving on simple techniques such as pivot points and molding these techniques into something more insightful. So even if there were 5 pivot point threads side by side, each thread can be leading a different direction with different supporting ideas.
And leerees, MAs make great S/R levels, so saying having just one MA on your chart is a waste is not true at all. They make better S/R levels than pivots most of the time.
I suppose it's a case of each to their own here, I just don't think MA's on their own are all that especially not for scalpers, maybe a MACD histogram or a stochastic but I personally wouldn't. If you're mindfull of the overall market trend it's a lot easier to scalp witout these indicators, just follow the zigzags (swing hi's / lo's).
I beleive in simplicity, and the problem with a lot of beginner traders is they are looking for a "system", they end up missing out on obvious trades because their systems indicator was lagging behind, and they end up getting whipsawed because they blindly follow their system into a loosing trade.
Renko bars, they are simple, boring and painfully slow at times, but they are easy to trade.
so far I havn't learned how to use pivot points or seen anything about how to use pivot points like this thread is titled.
what is a suggestion for a trading system on how to use pivot points?
i dont get it..........
so far I havn't learned how to use pivot points or seen anything about how to use pivot points like this thread is titled.
what is a suggestion for a trading system on how to use pivot points?
i dont get it..........It means that this pivot thread is open to new ideas to allow a trading system to be built upon this s/r.
pivot points
I have been trading with pivots now ever since this thread was started and i developed a scalping strategy around pivots and i use it for everyday trading- i do not have steady consistent results for longer than 2months yet, because I had to learn risk management also,, but i feel like i am on the right track now. - thanks James the Giant and leerees,,,,
you still around here James?
-Kinjaheed