10.2 forum

[nanningbob]

I don't understand what you mean by "your pivots don't set" ? How does the JPY open time affect it?

0 GMT and the JPY open are the same unless there is a time change. So the daily pivot resets then. I see it happen every day on my chart.

Ohh, I see. Your pivots REset at 00:00 GMT = JPY open. Gotcha. Empty4 breaks days at 00:00, which happens at the JPY open for your GMT+0 crim.

If your approach works for you, that's hard to argue with. I'm just not sure how the rest of us can follow what you do, if your charts look totally different -- see e.g. hammondnz's daily pivots. Maybe we need to modify the pivot indicators so they reset at 00:00 GMT no matter what timezone your crim is in. Or maybe it's like we said elsewhere, maybe where the pivot is, is less important than how you trade around it.

You like your pivots resetting at 00:00 GMT because that's your local open. That doesn't work as well for people on the other side of the world, or people whose crims aren't on GMT+0, but it works well for you.

Do you also prefer the Cowboy IBFX behavior that hides Friday-to-Monday gaps on W1 charts??

Being the geek I am, I like consistent behavior. I'm uncomfortable with everybody having different charts and different indicator results. I don't like to see the short Sunday candle, or the Sunday candle getting wrapped into last week's W1 candle, or 6 D1 candles per week. I like the markets opening at 00:00 on Monday and closing at 23:59:59 on Friday with 5 clean D1 candles, and properly-reported W1 gaps. These things all seem right to me, and that's what you get with GMT+3/2 crims.

But I'm not the one inventing (and sharing!) the system that's making everybody so much money. I should find a way to work with your system, on my crim or on a GMT+0 crim, or shut up and let other people be happy with what's working.

OK from my standpoint this is my question, how do I fix something I am not seeing. In other words my screen looks normal to me because since late March this is what I have been looking at and trading?? I grasp the fundamental problem and I can see where it can be very disconcerting, the problem is how do I solve it?? I do think the daily pivot idea is going to be better in range markets and MA lines are going to be better in trend markets. That is what I am seeing at this point. Believe me when I say this I would like to come to a reasonable compromise on this issue so we can all be on the same page. That is how we all become winners. We see some thing, report it and help each other out. However, if it is not the same thing then I lose a portion of my support system. I guess if a programmer out there can update the indicator so the pivots can be set based on a certain time. I can compare the NT close with the jpy open and see if it really makes a hill of beans to my trading. Right now I have no idea because I dont see what you are seeing. So If someone could change it, I would love to take a look. To have a more universal pivot acceptable to all would be a problem solver. I still could use the present system for trading gaps when they happen. I mean I had a killer Monday because of it. I think you all would like the chance to see the same thing. So lets see if we can make it work.

[feucht]

Hi Bob,

Only just discovered the 10.2A version, can I just check that this trade makes sense? On EURNZD we are at Sell and Hold on the D1, the green line is below the yellow which is below the black, and we have a cross downwards of the green line, so this is a sell here?

Also could we be re-entering on retests of the green line where D1 TMA slope is still under -8?

Many thanks,

J

[rewand]

This is just for those who are not sure whether their pivots are good or not.

To me a pivot level is good if I see some kind of price reaction right there or nearby. Attached is the picture (/Alpari GBPUSD M30, I could have attached many other real time charts) that shows my lines are just good. Look where price reacts: Daily FPV, R1, R2, NB W1MA, weekly pivot, etc.

So to be sure if those lines work or not is just as much a matter of observation as theory and maths. If price shows no respect to your lines in general, then your pivots need adjustments until you see price reacting right there or nearby your lines (even if it does not make much sense in terms of maths or theory). That's why we have the pivot lines, to see price turn around (and our pivots to act as S&R lines) or dash through (and our pivots to become and act S&R lines).

Good luck,
Rewand

[spotdespot]

I said I wouldn't post about this again but I think it is important so I will risk the wrath of Steve/Bob. It doesn't affect me as I am not using a GMT broker now so hopefully this will highlight I am not trying to change anything to meet my requirements or even for my good at all.

Please see the charts below - Monday's Daily Pivot post gap is perhaps not a big deal and has imo been a bit of a red herring - the issue is really with the weekly pivot as it is then quite a way out all week - this just highlights the difference better than I have been able to get across.

This isn't in any way any kind of criticism of the system (it's fantastic) but I think getting these lines in the "right place" would help. Where there isn't a gap there is no significant difference in pivots (10-20 pips maybe) so this will not have had a noticeable effect on testing.

GMT broker (Cowboy IBFX/FXCM)

eurgbp gmt.gif

Non-GMT broker

eurgbp non-gmt.gif

[Larryk]

My First post here, so Hi to you all from South Africa

Next, thank you Steve for bringing me here. Another thank you to Bob for his awesome system, I am still learning and trying to understand.

Finally it is common for a teacher to require that all his pupils get the same 'text book' , so why don't we all just open a demo with Cowboy IBFX and our charts will all look the same as our teacher, we can use them for finding trades and stop wasting time on all this chatter about our different charts. Just my opinion.

Larry

[garyfritz]

OK from my standpoint this is my question, how do I fix something I am not seeing. In other words my screen looks normal to me because since late March this is what I have been looking at and trading??

Yes, you're used to it and it's working for you. That's hard to argue with.

But the way the indicators work now, they are sensitive to crim timestamp. People who aren't on GMT+0 crims get totally different results than you, as e.g. Spot demonstrated. I think we have a few choices: 1) ignore the differences and hope it doesn't hurt results, 2) everybody move to a GMT+0 crim and put up with the wonky charts, or 3) fix the indicators so they aren't sensitive to crim timestamps.

This wouldn't be an issue if Empty4 handled market hours properly, but it doesn't. Empty4 says 00:00 is the end of the day, regardless of when 00:00 is -- and that's dependent upon crim timestamp. That means all indicators that pay attention to D1 or W1 or M1 candles change if you change to a different crim timestamp.

I guess if a programmer out there can update the indicator so the pivots can be set based on a certain time. I can compare the NT close with the jpy open and see if it really makes a hill of beans to my trading. Right now I have no idea because I dont see what you are seeing.

You might want to try opening a demo on a GMT+3 crim so you can see the differences. PFG or lots of others will work. That would let you see how a GMT+3 crim calculates pivots &etc without having to rewrite the indicators, so you can decide if it makes a difference.

Definitely it WILL make a difference -- the pivots &etc will be different, and the MAs on D1 charts will change with 5 D1 candles per week instead of 6, and it'll show gaps correctly on W1 charts -- but the question is whether the system works noticeably better or worse with the different pivots. If there's no significant difference, then we can go with option #1 above and just ignore it. You won't be able to discuss common trades with people who aren't on GMT+0 crims, but everyone can still trade successfully.

If it DOES make a significant difference, and assuming GMT+3 is noticeably worse, then we look at options #2 or #3. Personally I think #3 (make the indicators insensitive to crim timestamp) is the better answer. It wouldn't be trivial but it's do-able.

If it DOES make a significant difference, and GMT+3 is better, then you could switch to a GMT+3 crim, get better results, and everybody is happy.

[Zool]

Bob,

There was the indicator in 10.1 named "10.1 Daily SR Daily". Can it be modified to show the nearest pivot levels insted of the S/R levels? It should show the 2 nearest daily and weekly pivots and support and resistance levels below and above. I don't really know if it would be helpful in real time use, just it's in my mind that maybe it's a good idea to have an indicator like that I really like the S/R lines in it's form, and I think that's a great tool to have. Maybe it could be used with pivots, as it have been used in 10.1 with S6R levels.

[nanningbob]

Bob,

There was the indicator in 10.1 named "10.1 Daily SR Daily". Can it be modified to show the nearest pivot levels insted of the S/R levels? It should show the 2 nearest daily and weekly pivots and support and resistance levels below and above. I don't really know if it would be helpful in real time use, just it's in my mind that maybe it's a good idea to have an indicator like that I really like the S/R lines in it's form, and I think that's a great tool to have. Maybe it could be used with pivots, as it have been used in 10.1 with S6R levels.

10.1 lines are based on fractals, whereby pivots are based on highs and lows. Change the time of the candles, start and finish points and this is what you get. Dang. Maybe stick with the MA lines then. Problem is the gaps with pivots, and market opens. Affects the system quite a bit. It is not just the pivot lines but also the histograms.

[mobthehop]

@rewand - what pivot indy do you use? If you have the mq4 version, please post....

Cheers

[SWG123]

@rewand - what pivot indy do you use? If you have the mq4 version, please post....

Cheers

Looks like the THV Tz pivots, set to Fibonacci. Sorry, don't have mq4 version:-

THV4 TzPivotsD (Black).ex4

THV4 TzPivotsMW (Black).ex4

P.S. Link here:-
http://www.forexfactory.com/showthread. ... ost3100227