I have tried to calculate pivot point using different time frames, but I discovered that they all give different values. Which time frame is the best?
I took the course from forexmentor.com after I made a account from fxsol. anyways, they had a course over pivot point trading. How they said was to take the previous day. Say it was Wednesday, look at the daily chart, and look at the candle stick of Tuesday. Take the open, high, low, and close and you put it in a pivot point calculator. hope this helps
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I’ve heard that Daily and Monthly timeframes are the best.
Forexinterbank.com has a free Calculator on their website. You pick the pair, and daily, weekly, and last 5 days. They also have a desktop version for $49.00.
Supports and resistance can serve as pivots points.Past hourly supports resistances that were pivot points can be future pivot points or points of support and resistance.
Tom
Is it meaning the pivot point is not good for 15 min tf. I really like 15 min, I have enough time to see it but I think I�m no doing it well, If pivot points isn�t good for 15 min which one it is??
The best you could do is to mark the pivot supports and resistances based on the last day closing, and then go back to the 15 minutes timeframe and place your orders accordingly with the pivot resistances and supports
I could be wrong, but I think the question being posed is, “what 24 hour period to use when calculating daily pivot points.” For example, new york hours, london hours, ect. I am restating this question because I too have posed it and have yet to read see anyone discusses the merits of using the various 24 hour trading periods that constitute a “day” in forex. I currently use pivot points derived from the london trading hours, even though I trade new york hours. I operate on the belief that with the london session being the most heavily traded these pivot points will be most valid. I am not beholden to this theory however. I am open to hearing a better argument. Also, I have heard about “rolling pivot points”, but I don’t know how they are calculated. Any help hear would be most welcome.
In my point of view, the times that produce more accurate predictions is taking the open at 00:00 GMT and the close at 23:59 GMT.
This too was my question to myself over the weekend… so …why not open a chart with different pivot times on it. Try…
- GMT to GMT.
- New York midnight to midnight
- New York 5:00pm to 5:00pm
Also try having 3 charts of the same pair open, each with different pivots, eg using Tokyo close to close, London close to close, and New York close to close and see which one makes scene the most to you.
I am coming to think that when your favorite currency pair is not reacting to pivot points then you are looking at the wrong pair at this time.
Don’t overlook higher time pivots, here are 4 different time - weekly PPs on 1 hour chart.
I know the AUD/JPY is not a normal pair to look at but the EUR/USD was not playing right so I looked at AUD/USD and opened an AUD/JPY to compare and it started to look better than most.
Dean.
what is desktop version 