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Re: pivot point interpretation
Soul, have you tried the "Floor trader pivot" indicator that comes with Tradestation?
I think it uses the exchange settlement close for its calculations because there was a difference between using the chart close and the Floor trader close.
Their are pros and cons to each indicator.
I for one do not like to enter High, Low, Close everyday, but I also don't like my charts compressed. Floor trader pivots does that since will will plot all pivot leves if you want it to.
I did however get some ideas and observed with pivots.
Price slice through either up or down on good volume, go with it, or wait for retest of pivot for a continuation move.
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Winfred
Life is a comedy for those who think and a tragedy for those who feel.Horace Walpole Doubt all before you believe anything!Sir Francis Bacon
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