Indicator Classic Pivot Points - Page 4

# Thread: Indicator Classic Pivot Points

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. Originally Posted by layigold
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
You used a modification of pivot indicator or a new generation of pivot points, while the thread starter uses the classic or default pivot indicator. Trading using pivot point indicator is very simple and easy to understand, many traders use it because it is simple especially for intraday traders, but not including me, although I like this kind of simple indicator, but I never learned more.

3. turns points is a good indicator it will be used as a support and resistance levels, if the trader can be able to make use of it well this individual will be able to make cash, but i think it should not be used alone but the trader needs to put it to use with the other tools to get good confirmations to the trading signals and discover how to transact in the good positions. tanks

4. [lang=ar]Your topic is excellent and thank you for sharing this information with us and this makes me wonder how the trader can benefit from the effects such as the impact of oil on currencies or the impact of gold on commodities these factors are very important and can contribute to success How you see it through your topic[/lang]

5. with pivot point the trader can be able to find a good levels that let him to know how to find the good trading positions and so the trader can be able to set good trading in good positions and make good money from the market easily and continuously, the trader needs to have a good strategy with pivot points to be able to trade better.

6. I imagine that the utilizing of the marker might be guided of a portion of the standards or conditions and the devices might be so great at knowing a portion of the outlines qualities . likewise we need to look for some reasons of the exchanging like the utilizing of alternate speculations in mix of them together

7. You used a new generation of pivot indices or pivot points, when Thread Starter uses the classic or default pivot indicator. Trading using pivot point indicators is very easy and easy to understand, many businessmen use it because it is especially easy for interconnected traders, but I do not, although I like this kind of general indicator I have not learned yet.

8. regarding pivot, have you ever heard of the pivot killer indicator? what is the difference between classic pivot and other pivots?

9. classic pivot points are good but the trader needs to use another tools with it to make better trading and increase the possibility of earning, pivot points will work as a excellent support and resistance levels and so the trader will be able to find good positions for trading and also the trader can determine the take profits and stop loss also.

10. I love trading with pivot point, it is perfectly for day trading. it is a good source of support and resistance level, I usually trade the breakout or the revesal of the central pivot point level and will target the s1 or r1 as the initial profit target and may extend it to s2 or r2 based on how strong the trend is.

#### Posting Permissions

• You may not post new threads
• You may not post replies
• You may not post attachments
• You may not edit your posts
•