I trade oanda and have been looking to add weekly and monthly pivots to my system. I have one fundamental problem. So I tried using ict’s macro which I thought was accurate however upon checking action forex and ibfx pivot macro they all give different answers. So I assume ict’s and ibfx calculate differently I can tell that the ibfx macro does not use the open price just high low close. But what I did notice was that action forex open high low close were different from oanda. So do I use pivots calculated on the candles on my broker platform? Or use action forexs numbers? There is huge differences larger than 25 pips which is for me completely unacceptable. How do you traders who use pivots deal with these price discrepancies ???
I have found calculating pivots based on NY market close at 5:00 pm New York Time provides the most reliable signals.
Ignore Oanda pivots & charts as a whole, use Action Forex pivots &
match them up to charts which use the NY close to calculate their pivots.
Just use Oanda to place trades. (or a spread better)
Well i had already put in the action Forex pivots but trading off their charts is going to be pretty difficult. We will see how it goes, but its really kinda BS this OTC nonsense. you don’t really realize at first how these small things add up to be a larger disadvantage, or at worst just an annoying chore.
why would you trade off their charts? i recommend using the pivot points they publish… i didn’t even know they do charts.
Jay
If you use MT4, google (Pivot Points - Daily (Shifted).mq4
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That is the pivot point indicator I use & once calibrated matches
up with Action Forex pivots.