Indicator Classic Pivot Points - Page 3

1. Indicator Classic Pivot Points

Classic Pivot Points indicator is a bunch of Support and Ressistance lines, the main ones named Support 1, 2 and 3, Pivot Point, Resistance 1, 2 and 3 (seven lines). Those lines' value lasts for a day and are calculated based on the previous trading day's High, Low and Close prices.
There is more than one way to calculate Pivot Points - we are focusing on the Classic one. This is Pivot Point being (High+Low+Close)/3; Range - High-Low; Support 1 is 2*PP-High, Resistance 1 is 2*PP-Low; Support 2 and 3 are PP-R and PP-2*R; Resistance 2 and 3 PP+R and PP+2*R.
Other approaches include PP = (H+L+C+O)/4; PP=(H+L+2*C)/4; Support 1 being a Fibbonachi number of Support 2 and/or Range; Standart Deviation etc. etc.
There are multiple indicators around calculating these, some platforms like NinjaTrader and TradeInterceptor have them included, some brokers provide custom indicators - it doesn't matter where we take them from - as long as the calculations are the same it is Classic Pivot Points.

2. Pivot points in the forex or stock market are crucial things we must place or have. Making money in the forex market is not an easy thing to do. Making money is very difficult in the forex market but with proper approach it is very much possible to make money.

3. Originally Posted by Doge
Here is one example of Classic Pivot Points - we can see the impulse up that couldn't actually reach the level, then instead of a reaction price action slides up just to touch it and then goes into an inactive range.

http://i.imgur.com/bbLzKxG.png
Looking at your chart, I cannot see any pivot line being shown at all, is anything wrong with the chart sir ? If you look at my own chart below, you will see that the indicator has already charted the support levels(S1, S2, S3 PIVOT, R1,R2,R3) on the chart and this has been found to be very useful and effective for a day trader. If anybody is interested in downloading the pivot indicator, let me know so that it may be attched

exmp.png

4. Yes in above picture I can't see any pivot point indicator attached to the chart but the second picture showing that the Pivot points are attached in the chart but I want to know that they are daily intra day pivot points or long term pivot points because as far I know they are not only limited with the intra day trading they could be related to weekly and monthly too is that true?

5. I think that would be complicated to complicated that will destroy my trading chance when am trading forex we have to really pick up a currency and indicator that works well

6. This kind of parttern is more familiar with commodities like gold and oil which are prone to the news that come on daily basis the one out the two that is more prone to news especially the ones that are concerned with the usd would be the oil that is and that the one that reacts more to the dollar index is gold trader and investors try to go to the commodity when there is a dollar uncertainty

7. I think pivot points are really important we have to work the best we work right we have to develop have the same have to really show how good we are when we are trading forex in forex we have even shown how markets are able to prove good issues of the market

8. pivot points is a good indicator and it can be used as a support and resistance levels, if the trader can be able to use it well he will be able to make good money, but i think it should not be used alone but the trader needs to use it with the other tools to get good confirmations to the trading signals and know how to trade in the good positions.

9. hi my friends

this is how I use pivot points on H4, I Look whether the price is above or beneath S or R. So if value closes beneath S1 then you might sell and target to your tp on the next level down or somewhere between levels going down. Furthermore, what you could do is put your stop loss at the mid point between the broken Support and the previous resistance

10. There is no indicator that is not good , the only thing is to know how to follow it, the 100 and 200 moving averages are good in themselves in that they sometimes serve a support or resistance and a break of them signifies a new trend either upwards or downwards.

11. classic pivot points indicator can be used for determination of the good trading positions, the trader can use it for determination of breakout also and so he can find good trading positions and make good profits, the trader can use it alone or add it to his strategy, this indicator can determine the good support and resistance levels.

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