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Posts: 347

Joined: 4/20/2006
Location: JNB, ZA

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Subject : RE: Rolling Pivot Points
Posted : 4/11/2007 2:23 PM
Post #4533 - In reply to #4233

Well, we have our first (beta) version of Forex Pivots!

Big thanks to Manfred who designed the Rolling Pivots based on EOD data (weekly pivots on daily charts). His development enabled me to convert it into Daily Pivots that should be drawn on Hourly Charts, which I trade.

I call it Hourly Pivots, because they should be used on the Hourly charts only! From the purist perspective it is an incorrect description, as these are really Daily Pivots that should be drawn on Hourly Charts. Also, it is still work in progress, as current indicator draws only the last set of Pivot levels (no historical pivots at this stage), but it is a great start!

Also, we should define better the beginning of the trading day, as currently it will give you different readings, depending on your time-zone. Many traders use 17h00 NYC time as close. I used midnight, which is an hour later in my time-zone (i.e. South Africa).

So here it is. Attached please find the code and a picture of what's it look like on my screen.

Cheers, Kris

PS. Manfred I hope that you don't mind me stealing your thunder. Once again, thank you for your contribution to the Traders Body of Knowledge.
Attached file : HourlyPivots.JPG (77KB - 587 downloads)
Attached file : HourlyPivots.txt (4KB - 544 downloads)

Deleting message 4533 : RE: Rolling Pivot Points

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