10.7

fu84ad · Post by **fu84ad** » Sun Feb 12, 2017 2:26 am

Hello Guys..Is anyone still trading using this indi..Coz I'm, and I would like to thanx Sir Nanningbob and others tech admin for this great Indi to help me in trading especially when combining with pivots on MTF..Thank you very much to all the coders..

Post by **Wavegarrick** » Sun Feb 12, 2017 4:53 am

Hi Fu84ad,

Nice to see you using 10.6, 10.7.

I cannot open a trade without looking at MTF pivots. I still use this in my manual trading to this very day.

Cheers
Leon

Post by **nanningbob** » Sun Feb 12, 2017 12:20 pm

Post by **Wavegarrick** » Sat Feb 18, 2017 12:19 pm

Hi Guys,

I have been asked via Pm how I use MTF pivots.

Just a quick recap on multi timeframe pivots and this has been since the evolution of Nanningbob's 10.1 version up to 10.7.

I use DWMPivots.

Basics:

- Daily pivot above weekly pivot and weekly pivot above monthly pivot means buy trades only and vice versa only sells.

Buy trend:
Here I set a buy limit at daily support 1 and 2 or daily pivot if price is above daily pivot if below I set a buy stop.
Target could be daily Res 1 or 2 or weekly res 1 or monthly res 1.

Sell Trend:
same as above in the opposite direction.

Consolidation (Ranging):
- Daily pivot is between the weekly pivot and monthly pivot.
Here I set a buy limit at daily support 1 or 2 and a sell limit at daily res 1 or 2.

Counter trend trades:
Here I use monthly resistance 2 or 3 for sell trades and vice versa support 2 or 3 for buy trades.
You can go blindly and set buy or sell limits without looking at price action but do expect drawdown.
Confluence of daily resistance and weekly resistance 1 or 2 and monthly resistance makes a good case for a sell trade
and vice versa for a buy trade. Signs of rejection are also if price starts making for daily support in an uptrend and vice versa for a sell trend.
I also start looking for daily pivot to go below daily open.
Once again I start looking for daily pivot to move below weekly pivot weekly pivot below monthly pivot to get back into the opposite trend.

Much of Nanningbobs teachings are based on the the 240 Lwma 4Hr timeframe which closely follows the monthly pivot and this is our trend direction.

Entry triggers:
We use stochastics 722 linear weighted set to close. Nowadays I just use 533 stochs because I have Hgi to help me with the entry.

Anyway this is a quick summary and lots more involved.

Please feel free to disagree with me but this is just a part of my schooling from Nanningbob in a nutshell and many thanks to Bob

.

Cheers
Leon

Post by **nanningbob** » Sat Feb 18, 2017 11:54 pm

You explain it better than me

macush · Post by **macush** » Sun Feb 19, 2017 9:07 am

Thanks Wg, would you mind posting your version of DWMPivots as a search for it brings up many posts
saying it doesn't work, back through 2016 anyway ??
Cheers and thanks for the guide.
macush

Post by **Wavegarrick** » Sun Feb 19, 2017 10:15 am

Yes sure, here you go Macush.

DWMPivots.ex4

DWMPivots.mq4

Cheers
Leon

macush · Post by **macush** » Sun Feb 19, 2017 10:37 am

Champion. Thanks

Post by **Wavegarrick** » Sun Feb 19, 2017 10:43 am

nanningbob wrote:You explain it better than me

Well Bob. if it were not for you I would not be this confident today, let alone explain anything

My pleasure Macush

Cheers
Leon

macush · Post by **macush** » Mon Feb 20, 2017 7:07 am

Sorry Leon,but for some reason I'm having the same problem others had last year in several posts, DWMPivots wont load on the chart. Would it be something in the default settings maybe needs to be changed?? Or do I need one of Bob's Indies that I haven't got loaded??
cheers
macush