When using pivot points which information is applied to which time period? You are supposed to calculate by using the previous trading sessions data. So for example if I take information of the daily chart do I apply those levels to the current daily chart or the 4 hour chart or the hourly chart?
I know that some platforms and charting packages does this automatically I was just wondering what the standard typical application is.
I’m assuming you know how to calculate [B]daily[/B] pivot point. With standard pivot point calculation, you will get three resistance levels and three support levels. These levels remain static for the next 24 hours regardless of your time frame. For instance, my daily E/U candle closes at 5PM NY time, so these are my levels: PP:1.42733; R1:1.43563; R2:1.44096; R3:1.44926; S1:1.42200; S2:1.41370; S3:1.40837. As I go down on the time frame, H4, H1, M30, M15, M5, M1, all seven levels (PP, three Rs, and three S) remain the same. If you trade off of the M15 chart, S1 is the same as S1 on H1 chart, as well as S1 on H4 and D1 charts. Hope I’m making sense.