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Pivoty Slope
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Author:  garyfritz [ Mon Jul 23, 2012 9:07 pm ]
Post subject:  Re: Pivoty Slope
grimweasel wrote:Interesting Gary - but the whole idea of the pivot is that it shows the central fulcrum around which price rotated the previous day. It's the middle of the previous day's action as far as I'm aware? Surely, by having one that updates all the time we risk losing the pivot's true signal and merely following an MA?
I've never seen firm proof that (H+L+C)/3 is a magic price level, except for self-fulfilling prophecies. (Which do have value.) If that price does genuinely have some power, then we should probably keep it for pullback measures and entry ponts. But clearly using the DP/WP/MP for trend signals is problematic.

As I was thinking about this last night, and looking at the continuously-updated "pivot" calculations, I had the same thought -- "why not just use MAs?" It might be perfectly valid. Looking at the 9/20 EMAs now, they look a lot like the "continuous pivot" indicator I suggested last night. The EMAs signal trend changes at almost the same time as the "continuous pivot" calcs.

So it may be that using the traditional pivots is good for determining pullbacks &etc. But I suspect something like the 9/20 EMA might be better for trend signals. I'd say the major advantage of using the DP/WP/MP is that they're already on the chart. :D Simplicity is good...
Author:  harry45 [ Mon Jul 23, 2012 9:26 pm ]
Post subject:  Re: Pivoty Slope
garyfritz wrote:
grimweasel wrote:Interesting Gary - but the whole idea of the pivot is that it shows the central fulcrum around which price rotated the previous day. It's the middle of the previous day's action as far as I'm aware? Surely, by having one that updates all the time we risk losing the pivot's true signal and merely following an MA?
I've never seen firm proof that (H+L+C)/3 is a magic price level, except for self-fulfilling prophecies. (Which do have value.) If that price does genuinely have some power, then we should probably keep it for pullback measures and entry ponts. But clearly using the DP/WP/MP for trend signals is problematic.

As I was thinking about this last night, and looking at the continuously-updated "pivot" calculations, I had the same thought -- "why not just use MAs?" It might be perfectly valid. Looking at the 9/20 EMAs now, they look a lot like the "continuous pivot" indicator I suggested last night. The EMAs signal trend changes at almost the same time as the "continuous pivot" calcs.

So it may be that using the traditional pivots is good for determining pullbacks &etc. But I suspect something like the 9/20 EMA might be better for trend signals. I'd say the major advantage of using the DP/WP/MP is that they're already on the chart. :D Simplicity is good...
Gary,concerning MA,see att.pic,may be there is some reason.MA on plot and MA`s on NEO indi.
Author:  garyfritz [ Mon Jul 23, 2012 9:50 pm ]
Post subject:  Re: Pivoty Slope
Sorry, what am I looking for? I see there are MAs and I see Neo's indi, but what do you want me to notice?
Author:  harry45 [ Mon Jul 23, 2012 10:08 pm ]
Post subject:  Re: Pivoty Slope
garyfritz wrote:Sorry, what am I looking for? I see there are MAs and I see Neo's indi, but what do you want me to notice?
Sorry, I couldn`t explain properly.If PA above MA and fast MA above slow MA on NEO indi we shouldn`t pay attention on value of Slope,it`s a buy signal(Pivots should be in a row)
Author:  garyfritz [ Mon Jul 23, 2012 10:19 pm ]
Post subject:  Re: Pivoty Slope
Ah, gotcha. You're saying if the TMA is increasing, it's an uptrend even if the TMA isn't above 0.4? That's what I was talking about in my level vs. direction thread.
Author:  harry45 [ Mon Jul 23, 2012 10:26 pm ]
Post subject:  Re: Pivoty Slope
garyfritz wrote:Ah, gotcha. You're saying if the TMA is increasing, it's an uptrend even if the TMA isn't above 0.4? That's what I was talking about in my level vs. direction thread.

Right You are .I couldn`t expain it normal way,it`s a pity.If impuls to price had been given never mind where was the initial point.
Thanks
Author:  Xeroforex [ Tue Jul 24, 2012 11:23 am ]
Post subject:  Re: Pivoty Slope
grimweasel wrote:
I'm reading an excellent scalping book at the moment and all the guy uses is candles and the 20ema as his trend indicator.
Hi grimweasel,

Would you share the title and author of the book.

Cheers...Ted
Author:  Xeroforex [ Tue Jul 24, 2012 12:34 pm ]
Post subject:  Re: Pivoty Slope
Lifesys wrote:Thanks Ted. Serendipity traders are called gamblers!
Thank you Lifesys, I am like every trader a gambler. Quite simply a gamble is to stake or risk money, or anything of value, on the outcome of something involving chance. Are you suggesting that your trades are not a gamble? If so show us the Holy Grail! :lol: ...........Ok you can call me Thomas.

:?All I was trying to say is that it is not possible to begin with the end in mind when you accidently stumble across something. The serendipity is in the recognition of the discoveries possible benefits, which is enlightened in itself.

Cheers...Ted
Author:  grimweasel [ Tue Jul 24, 2012 3:15 pm ]
Post subject:  Re: Pivoty Slope
Ok, so I keep getting the Error 130: Invalid Stops every second? I thought this was linked to Crim being an ECN or not, but I have tried both on/off and I still get the error?
Author:  EllisEdi [ Tue Jul 24, 2012 5:23 pm ]
Post subject:  Re: Pivoty Slope
grimweasel wrote:Ok, so I keep getting the Error 130: Invalid Stops every second? I thought this was linked to Crim being an ECN or not, but I have tried both on/off and I still get the error?

I was getting this as well...

I made some changes and no longer get these errors. Basically I added a return of Null to CalculateStopLoss if no stop Loss calculation occurs. then I added a check to not do any calculation with the stop variable if it was null. this sends a null in the stoploss to the SendSingleTrade method therefore no stoploss.

I also changed a couple of default settings ... I am new to this forum and I am not sure about the rules on re-posting someones ea that i modified. so the changes are documented below (but no attached file)

--Mark

I changed this:
double CalculateStopLoss(int type)
{
//Returns the stop loss for use in LookForTradingOpps and InsertMissingStopLoss
double stop, price;

to:
double CalculateStopLoss(int type)
{
//Returns the stop loss for use in LookForTradingOpps and InsertMissingStopLoss
double stop, price = NULL;


And this
double CalculateTakeProfit(int type)
{
//Returns the stop loss for use in LookForTradingOpps and InsertMissingStopLoss
double take, price;

to this:
double CalculateTakeProfit(int type)
{
//Returns the stop loss for use in LookForTradingOpps and InsertMissingStopLoss
double take, price = NULL;

And This (in if (SendLong)):
//Lot size calculated by risk
if (RiskPercent > 0) SendLots = CalculateLotSize(price, NormalizeDouble(stop, Digits) );


To this:

if (stop != NULL)
{
//Lot size calculated by risk
if (RiskPercent > 0) SendLots = CalculateLotSize(price, NormalizeDouble(stop, Digits) );
}

And This: (in if (SendShort))
//Lot size calculated by risk
if (RiskPercent > 0) SendLots = CalculateLotSize(NormalizeDouble(stop, Digits), price);


To This:
if (stop != NULL)
{
//Lot size calculated by risk
if (RiskPercent > 0) SendLots = CalculateLotSize(NormalizeDouble(stop, Digits), price);
}
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