Pivot Points - Support - Resistance

[Maverick]

Resistance Level 1 = (2 * Pivot Point) - Previous Low

Support Level 1 = (2 * Pivot Point) - Previous High

Resistance Level 2 = (Pivot Point - Support Level 1) + Resistance Level 1

Support Level 2 = Pivot Point - (Resistance Level 1 - Support Level 1)

Resistance Level 3 = (Pivot Point - Support Level 2) + Resistance Level 2

Support Level 3 = Pivot Point - (Resistance Level 2 - Support Level 2)

These are the figures taken from Yahoo finance for Monday 17th May 2016


http://www.livecharts.co.uk/Members/display_forex_pivots.php

• If the above are the recognised formula for the calculations why can't I find an indicator that agrees ?

• Are Standard Pivots the pivots of choice for the majority ?

• Fibonacci pivot point, anybody use ?

• Camarilla pivot point, anybody use ?

• Woodie's pivot point, anybody use ?

• DeMark's pivot, anybody use ?

.

 

[Maverick]

Does anybody use more than 3 S & R or midway levels ?

 

[radex78]

Usually I am only look opn the chart and look SnR on level chart from history candle, using pivot point making confused to me, sometime use fibonaci, but most often only look on candlestick pattern

 

[Maverick]

Major problem would appear to be the DATA used to calculate the pivots

May 18th 2016 - DAX - Germany 30

LiveCharts . . . . . . . Investing

R3 10,264.75 . . . . . 9969.00
R2 10,172.52 . . . . . 9927.00
R1 10,031.36 . . . . . 9893.00

p 9,939.13 . . . . . . . 9851.00

S1 9,797.97 . . . . . . 9817.00
S2 9,705.74 . . . . . . 9775.00
S3 9,564.58 . . . . . . 9741.00

http://www.livecharts.co.uk/Members/display_stock_pivots.php

http://uk.investing.com/indices/germany-30-technical

Apart from collecting all your own data every night and doing your own sums . . . Who do you trust ?
.

 

[Maverick]

Now I am well and truly stuffed Just discovered the levels change with the TF . . . SHoneT !

And because I use Renko charts which aren't time related even more of a nightmare.

I would have thought the HLOC data would have been the same for all TF's

Most strange

I was using this data http://uk.investing.com/indices/germany-30-technical?

 

[radex78]

If there are certain indicator that automatically calculating pivot point to get area support and resistance might will useful for trader than caluculating manually

 

[Maverick]

If there are certain indicator that automatically calculating pivot point to get area support and resistance might will useful for trader than caluculating manually

The problem is non of them seem to agree

Which one do you trust ?
.

 

[radex78]

The problem is non of them seem to agree

Which one do you trust ?
.

Actually I am not trust, but usually often use fibonacci retracement with draw manually from highest to low on 4h timeframe

 

[Maverick]

Actually I am not trust, but usually often use fibonacci retracement with draw manually from highest to low on 4h timeframe

My problem is I use Renko charts where time is not a factor

 

[radex78]

My problem is I use Renko charts where time is not a factor

I am often hear about renko chart, but so I am never learn how to use , but I am ever learn about demand and supply theory

 

[Maverick]

The problem is non of them seem to agree
Which one do you trust ?.

Using data from the 25th May 2016 close for the DAX

P = (H + L + C)/3 = 10181.5 (MT4 indicator)

Investing.com = 10242.0

Yahoo Finance = 10189.7

H'mmm

Surely the H, L, C data used for the calculation are are fixed amounts
.

 

[Enivid]

For me, it shows a different value:

 

[Maverick]

For me, it shows a different value:

Even more confusion
On closer inspection however . . .
You looked on May 27 2016 whereas mine was for May 25 2016 . . . had me worried for a moment.
.

 

[Ary Barroso]

To be honest, I have no concern on PP, because I use support/resistant levels so keenly.

 

[37riched]

I suppose the best way to be sure here is by using support/resistance levels keenly and understanding issues of demand and supply. Having an indicator that helps in automatic calculations of pivot points to get the area support and resistance, would be very instrumental though.