Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

brownsfan019

Pivot Point Discussion

Recommended Posts

Does anyone know of a good website that is a good source for quick pivot point info? By that I mean, a site that you can type in a symbol and get the high, low and close quickly on the page?

Thanks - Gavin.

 

Hello Gavin, try barchart.com, type the symbol in the box near the upper left and it will load the past 5 days OHLCV. Works for US stocks.

 

There is also bigcharts.marketwatch.com, if you go the the "Quotes" page and type in the symbol if will give you CHLV. Works for US stocks and also for other countries (Australia at least).

Share this post


Link to post
Share on other sites
Guest Mister Ticks

Hi Folks - Thanks for the replies. I'll check out those 2 sites.

 

 

Thanks - Gavin.

Share this post


Link to post
Share on other sites
Guest Mister Ticks

Hello again - I feel a bit foolish now as I have just noticed that there is a pivot point calculator on the main page underneath toolbox!

 

 

Gavin.

Share this post


Link to post
Share on other sites

Sort of an old dead thread, but I will post here. While I believe the VSA thread is both about VSA itself and incorporating VSA with an individual trader's other tool, I do feel this would be an off topic post in that thread.

 

A lot of the background on the PivotProfile can be found in certain threads, so I will not go into it . That is, unless this thread becomes active and discusses various "pivot" methodologies. Some of which would include, but not be limited to:

 

1. Floor Pivots

2. Value Area (Market Profile) Pivots

3. Fibonacci

4. Camarilla Pivots

5. Trend clusters

6. Plant harmonic lines

7. Delta

8. Murrey Math

9. Woodie's (of CCI fame)

10. et all.

 

Anyway, this first chart shows a full PivotProfile for a full 24 hr day (1700-1700 Tuesday the 22-Wensday the 23). The black dotted lines are there just to show separate this time period from the rest of the chart.

 

One quick note: in a post on the VSA thread I said price target of 1.4504. The low on this day was 1.4509. My reasoning had to do with the Value Area trade. Which brings us to the purpose of the post. How the Pivot Profile defines the trading day and its "correctness" via Market Profile.

 

The various levels (lines) on this chart HAVE BEEN ADDED AT 1700 - THE END OF THE DAY. Now, one can see many hits and bounces off of these lines. One might go as far as say they are very good. But these lines are done after the day using a static formula. The contention is they SHOULD show you were the market traded on that day. They are, however, used the following day. Of course, to be any good in the next day's trading, they must have some relevance today (all things being equal).

 

I do not want to go into the VSA, there is a great thread for that. Here, I want to focus on the Profile. Specifically, the fact that area from the upper pink line (DRH) to the lower pink line (DRL) is the VALUE AREA. Roughly 95% of the time, according to Mark Fisher, this area should be the same as through Market Profile. The middle of the Value Area is the Point of Control. Price wants to trade to that high volume level on subsequent days.

 

attachment.php?attachmentid=4891&stc=1&d=1201169517

 

 

The second chart depicts trading later on in the market. You can see that the London open is included as well as the lower volume/slower time before its open. Note how price narrows and coils around the POC and is supported/resisted in the Deviation Range (Upper Pink line to Lower Pink line). Of course, is support or resistance always held, there would be no trends. But our focus is on the apparent role the POC and all other lines/areas play in trading going forward.

 

attachment.php?attachmentid=4894&stc=1&d=1201169820

Share this post


Link to post
Share on other sites

Just a quick note on above post. Some of you might not read the VSA thread, so you do not know that unless otherwise stated the charts posted are of the EURO and that the Time frame for the chart shown is 15 min.

Share this post


Link to post
Share on other sites

Hey PP! Good to see you again!

 

Very interesting post.

 

Here's my question for you - what exactly do YOU use in deciding what lines to draw? What I mean is, you've pointed out there's a number of different methodologies to apply here - pivots, fibs, etc. etc. - and if you draw too many your chart is just littered with lines.

 

So how do you filter what to do use and when?

 

That was my biggest issue when using fixed lines as you've illustrated here. I tried pivots with MP numbers and some days they looked great and others there would be hardly any trades at all. OR after a big move day the numbers were so far apart that again, little to no trading took place the following day. Maybe that's simply a function of the system, but I could not get it to work no matter how hard I tried...

 

I'd love to see more charts with exactly what numbers are being used and on multiple markets.

Share this post


Link to post
Share on other sites
Hey PP! Good to see you again!

 

Very interesting post.

 

Here's my question for you - what exactly do YOU use in deciding what lines to draw? What I mean is, you've pointed out there's a number of different methodologies to apply here - pivots, fibs, etc. etc. - and if you draw too many your chart is just littered with lines.

 

So how do you filter what to do use and when?

 

That was my biggest issue when using fixed lines as you've illustrated here. I tried pivots with MP numbers and some days they looked great and others there would be hardly any trades at all. OR after a big move day the numbers were so far apart that again, little to no trading took place the following day. Maybe that's simply a function of the system, but I could not get it to work no matter how hard I tried...

 

I'd love to see more charts with exactly what numbers are being used and on multiple markets.

 

 

Hi BF. All the ones mentioned were just to get poeple thinking about what can be used and to open up the thread to any form used.

 

I use the PivotProfile. It is a mixture of Mark Fisher's Pivot Range and a bit of Murrey Math. The premise comes from Fisher. He stated that his Pivot Range was a good approximation to the Value Area generated by Market Prifile data.

 

attachment.php?attachmentid=4909&stc=1&d=1201247018

 

The above pic shows what you are talking about. Price is trading on the upper portion of the screen being supported by the Value Area High (DRH). All the lines that are drawn below currently are not relavent and only "scrunch" the price bars (candles). We had a big move in the Euro yesterday so the various ranges are wide. I too would like to hear from others on how they deal with such situations. Other than not drawing a line on the chart that is x ammount of pips/ticks/ away from the current price, what do you guys do?

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • $ARRY Array Technologies stock great day off the 10.96 double support area, from Stocks To Watch, https://stockconsultant.com/?ARRY
    • $MSFT Microsoft stock back up top of the range, breakout watch , https://stockconsultant.com/?MSFT
    • GBTC Grayscale Bitcoin stock top of range breakout watch , https://stockconsultant.com/?GBTC
    • $FSLR First Solar stock nice bull flag breakout, from Stocks To Watch, https://stockconsultant.com/?FSLR
    • Date: 22nd May 2024. UK Inflation Drop Boosts GBP, But Analysts See Correction Signals. The NASDAQ forms its 5th bullish wave resulting in the index trading 8% higher this month alone. Investors are waiting for NVIDIA’s earnings report. The market awaits the release of the latest FOMC Meeting Minutes for further indications on the potential rate adjustments. The US Dollar Index declines to a 7-week low, but can tonight’s Meeting Minutes change the trend? Read below what economists are predicting. UK inflation declines from 3.2% to 2.3% in its largest drop since December 2023. The Pound increases as the inflation rate did not decline to 2.1% as previously GBPUSD – UK Inflation Drops But Does Not Meet Previous Expectations! The GBPUSD is trading 0.30% higher after the release of April’s UK inflation figures. The US Dollar and the Japanese Yen are the worst performing currencies of the day. Traders looking to speculate a rising Pound may benefit from these weakening currencies. The GBPJPY is trading 0.47% higher so far. However, investors should be cautious of any change in price action as the next session (European Market) opens. The UK’s inflation figure fell from 3.2% to 2.3% which is the largest drop in 2024 so far and brings the Bank of England closer to its target. This would normally pressure the currency, but there are some factors which have triggered a bullish Pound. This includes the Core Consumer Price Index which fell from 4.2% to 3.9% instead of falling to 3.6% which were the previous expectations. Also, certain sectors did not see a decline in inflation in April, which is a continued concern. For these reasons, investors have increased their exposure to the Pound, supporting the currency. Also, economists are advising that the weakening inflation rate can increase investment demand which also further supports the country’s economy and subsequently the currency. Furthermore, investors will also need to take into consideration the price condition of the US Dollar individually. Dollar traders will be focusing on tonight’s Federal Open Market Committee’s Meeting Minutes. The market will particularly be looking for clarity on how many adjustments are likely in 2024, if any at all. In addition to this, if an adjustment is likely in July, September or later in the year. If the report indicates less cuts and a delay, the US Dollar potentially can witness further demand and a change in trend. This is something which was particularly seen in April 2024. The price action of the GBPUSD is forming a bullish trend and most trend-based indicators are signalling a higher price. However, there are signs that the price may correct back to the previous range. For example, on the 4-Hour chart the price is witnessing a divergence signal. in addition to this, the price is also trading at a significant resistance level from November, December and January. Though, for the resistance level to become active, the Dollar will likely require support from the upcoming Meeting Minutes. In the short term, sell signals are likely to materialize after crossing 1.27400 and 1.27268.   USA100 – Bullish Trend, But Investor Focus On Meeting Minutes & NVIDIA Earnings The NASDAQ saw a decline in the price as the US Open was approaching, however, the price momentum quickly changed when US investors started trading. The index rose 0.30% by the end of day and was the best performing US index. During the US Session 62.5% of stocks holding a weight of more than 1.00% rose while 37.5% fell. The main price drivers which supported the upward price movement were Microsoft, Alphabet, Apple, NVIDIA and Netflix. Investors will closely be monitoring the upcoming earnings report for NVIDIA, but also the FOMC’s Meeting Minutes. A more restrictive monetary policy can pressure the stock market, but the level of pressure and downward price movement will also depend on the results of NVIDIA’s earnings. Additionally, shareholders will also focus on Intuit’s Quarterly Earnings Report tomorrow evening, but this will have a lesser effect compared to NVIDIA. A concern for intraday traders is the decline in indices around the world in markets which are currently open. For example, the DAX, FTSE100, CAC and Nikkei225 are all trading lower. In addition to this, the US 10-Year Bond Yields are trading 0.0027% higher which is additional pressure on equities. Nonetheless, technical analysis in the medium to longer term continue to point to a continued upward trend. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.