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brownsfan019

Pivot Point Discussion

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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).

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

 

 

Thanks - Gavin.

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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.

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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

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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.

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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.

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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?

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