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

    • 1. A person who disguises insults as jokes.   2. A person who will never take accountability but has no problem always blaming you.   3. A person who says they want the best for you, but then works against you.   4. A person's whose words and actions don't match.   5. You can't trust a person who puts seeds of doubt in you, disguised as something else, like concern for you.   6. You can't trust a person who always tries to sabotage you, or make things harder for you. But always has an excuse for everything. Source: https://mentalhealthpsychology2.quora.com/6-TYPES-OF-PEOPLE-YOU-SHOULD-NOT-TRUST   
    • Date: 15th May 2024. Market News – Treasuries rallied, NASDAQ at new high, DXY lower after PPI pop.   Trading Leveraged Products is risky Economic Indicators & Central Banks: *JGB yields slipped, as markets paused amid a recent bond sell-off, awaiting a crucial US inflation report expected to influence the Fed’s short-term interest rate decisions. Remember, that typically yields move inversely to bond prices. *US: Stronger than expected prints on PPI did not have the textbook effects on the markets. Interestingly, Treasuries and Wall Street rallied, while the US Dollar slipped. The guts of the report were not as worrisome as the headlines suggested, and the CPI is viewed as more important. *Global equities are set for a fresh record after a big tech-led rally in US gauges. Financial Markets Performance: *The USDIndex slumped to 104.7, EURUSD rose to 1.0830 and USDJPY drifted at the EU open below 156. *Gold rose almost 1% to $2358.12 per ounce, while USOIL advanced to $78.18 after shrank US stockpiles, and as traders looked ahead to a report from the International Energy Agency that’ll shed light on market balances into the second half. *Copper spiked to a fresh record high at $5.12 a pound after a squeeze partly due to traders playing the arbitrage between futures on Comex and the Shanghai Futures Exchange.   Market Trends: *Big tech climbed, however, boosting the NASDAQ 0.75% to a new all-time high of 16,511. The S&P500 rose 0.48% to 5246. The Dow advanced 0.3%. *Sony shares jumped by 12% after strong earnings, a stock split and a share buyback of ¥250bn ($1.6bn). *Tesla gained 3.3%. Tencent Holdings surged after the company’s revenue beat estimates , while Alibaba Group Holding Ltd.’s slid on a profit plunge, highlighting the growing divergence between China’s twin Internet powerhouses. 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. Andria Pichidi 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.
    • Recessions are weird.   The more you think about them, the weirder they become.   Yes, the economy is cyclical. Downturns aren’t just inevitable, they’re healthy.   BUT   Economic cycles, including recessions, are not just determined by clean and predictable financial indicators but also by psychological and sociological factors.   Collective mood, media reporting, and public sentiment play a substantial role in shaping economic realities.   And they can be manipulated.   A.] The Fear Factory   Every time the media starts shouting "recession," what happens?   Panic. Fear.   It's like Halloween but for adults.   And this fear isn't just innocent fun – it moves markets, influences decisions, and causes real harm.   Give me an example of when the media saw a chance to scare the crap out of you and didn’t take it?   I’ll wait.   B.] Recessions are Relative   Consider this – what's called a recession in one country is a day in paradise in another.   Economic conditions are relative.   If the standards are so skewed, can we really trust this whole concept?   C.] The Recession Whisperers   Imagine a secretive group, not in some government bunker, but in a quiet office in Cambridge, Massachusetts. That's the National Bureau of Economic Research (NBER), the recession referee.   But here's the twist: By the time the NBER declares a recession, it's like announcing rain when you're already soaked.   Their method involves a retroactive look, meaning they wait for six months of data, plus a one-month lag.   So, when they finally declare a recession, it's old news, a story you've been living in, not just reading about. In the world of economic predictions, the official-unofficial referees are not the early birds; they're the historians.   Also…   D.]The GDP Puppet Show   GDP.   It’s supposed to be a “health check” for the economy.   BUT   It's like going to a doctor who only measures your height and ignores your blood pressure, cholesterol, and heart rate.   It counts every dollar spent, regardless of what it's spent on.   That means disasters, wars, and environmental destruction all pump up the GDP. If a hurricane hits and we spend billions on reconstruction, guess what? GDP goes up.   Celebrating a GDP increase is like throwing a party because your house burned down and you had to rebuild it.   It’s also the main indicator the NBER uses to measure a recession.   The real problem with this is…   GDP is a broad measure and can be influenced by short-term fluctuations that don't necessarily reflect long-term economic trends.   It’s a useful indicator, but far from comprehensive.   E.] The Self-Fulfilling Prophecy   Here's the kicker – by declaring a recession, we make them more likely.   It's a classic self-fulfilling prophecy.   Businesses pull back on investment, consumers close their wallets, and just like that, the economy slows down.   But what if we didn't buy into the narrative? I have no idea.   F.] Rage Against Determinism   Economies aren’t deterministic. They’re dynamic.   Economies don’t follow a predetermined path.   Human agency and perception play a significant role in shaping economic realities.   Predictions are usually wrong for this reason.   Also, there’s this…   G.] The Hidden Agenda   Tin foil hat time.   Think about who benefits from recession talk.   The media gets a juicy story.   Politicians get a scapegoat.   Certain investors get to buy low.   It’s a game, and the average person isn't the one winning. You’re always being sold a narrative that serves others, not you.   And Yet, a Recession is HERE   Of course, recessions exist. Because prolonged downturns exist.   But all of this calls into question what we think we know about the word “recession” and how we talk about it.   It’s not as clear a concept as we think.   Nevertheless, it’s probably here already.” – Chris Campbell (AltucherConfidential)  
    • QCOM Qualcomm stock great breakout follow through, https://stockconsultant.com/?QCOM
    • JPM JPMorgan Chase stock breakout, https://stockconsultant.com/?JPM
×
×
  • Create New...

Important Information

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