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See TASC, February 2000.
By the use of the average of the (H+L+C)/3 the Pivot Point is defined. First
support is (2*Pivot Point)-H, First resistance is (2*Pivot Point)-L, Second
Support is Pivot Point-(H-L) and Second Resistance is Pivot Point + (H-L).
These support and resisances are used in day trading. Never used it myself
but the article has some further ideas on the application.
Good Luck,
Pete
----- Original Message -----
From: Adam Hefner <vonhef@xxxxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: Friday, June 16, 2000 12:22 PM
Subject: Re: (Market) US bonds
> In Perry Kaufman's book "Trading Systems And Methods" , he list the Pivot
> Point method (along with some other methods) as a way of projecting the
> next bar's high and/or low. As I mentioned before, I have never traded or
> tested this method....so I am of little help to you.
>
> Adam
>
>
> ----- Original Message -----
> From: <whardy@xxxxxxx>
> To: <metastock@xxxxxxxxxxxxx>
> Sent: Thursday, June 15, 2000 11:19 PM
> Subject: RE: (Market) US bonds
>
>
> > How does one use these pivot points? I plotted the points and am
assuming
> they identify
> > support and resistance levels, but which ones do you watch for
penetration
> of, all of them?
> >
> >
> > > ** Original Subject: RE: (Market) US bonds
> > > ** Original Sender: "Adam Hefner" <vonhef@xxxxxxxxxxxx>
> > > ** Original Date: Wed, 14 Jun 2000 09:14:48 -0500 (CDT)
> >
> > > ** Original Message follows...
> >
> > >
> > > Mr. Harvey,
> > > Your observations serve you very well, one of the calculations
> > > for the monthly high's and low are the same as one of the
> > > support levels of the pivot point method. I have listed below
> > > the code you requested for the "Pivot Point" method, the
> > > first code is the classic pivot point calculation,
> > > the second two allow the weekly and monthly levels to be
> > > displayed on a daily bar chart. I have no system test for this
> > > and have never used or tested these code for trading.
> > >
> > > Adam
> > >
> > > ---------------------------------
> > > name= Pivot Point
> > >
> > > PP:=Typical();
> > > R1:=(2*PP)-L;
> > > S1:=(2*PP)-H;
> > > R2:=(PP-S1)+R1;
> > > S2:=PP-(R1-S1);
> > > R2;
> > > R1;
> > > S1;
> > > ---------------------
> > >
> > > name= Pivot Point (weekly)
> > >
> > > {Weekly Pivot Point Projection 8/4/99}
> > > Dw:=If(DayOfWeek()<=Ref(DayOfWeek(),-1),1,0);
> > > {Weekly Typical Price}
> > > PP1:=If(Dw=1,
> > > {then}(Ref(HighestSince(1,Dw=1,H),-1)+
> > > Ref(LowestSince(1,Dw=1,L),-1) +
> > > Ref(C,-1))/3,
> > > {else}0);
> > > {Weekly High}
> > > Wh1:=If(Dw=1,
> > > {then}Ref(HighestSince(1,Dw=1,H),-1),
> > > {else}0);
> > > {Weekly Low}
> > > Wl1:=If(Dw=1,
> > > {then}Ref(LowestSince(1,Dw=1,L),-1),
> > > {else}0);
> > > Wh:=ValueWhen(1,Wh1>0,Wh1);
> > > Wl:=ValueWhen(1,Wl1>0,Wl1);
> > > PP:=ValueWhen(1,PP1>0,PP1);
> > > {Resistance 1}
> > > R1:=(2*PP)-Wl;
> > > {Support 1}
> > > S1:=(2*PP)-Wh;
> > > {Resistance 2}
> > > R2:=(PP-S1)+R1;
> > > {Support 2}
> > > S2:=PP-(R1-S1);
> > > R2;
> > > R1;
> > > S1;
> > > S2;
> > > ------------------------------------
> > > name= Pivot Point (Monthly)
> > >
> > > {Monthly Pivot Point 8/08/99}
> > > {First Day Of Month}
> > > Fm:=If(DayOfMonth()<Ref(DayOfMonth(),-1),
> > > {then}1,
> > > {else}0);
> > > {Monthy Pivot Point}
> > > PP1:=If(Fm=1,
> > > {then}(Ref(HighestSince(1,Fm=1,H),-1)+
> > > Ref(LowestSince(1,Fm=1,L),-1) +
> > > Ref(C,-1))/3,
> > > {else}0);
> > > {Monthly High}
> > > Mh1:=If(Fm=1,
> > > {then}Ref(HighestSince(1,Fm=1,H),-1),
> > > {else}0);
> > > {Monthly Low}
> > > Ml1:=If(Fm=1,
> > > {then}Ref(LowestSince(1,Fm=1,L),-1),
> > > {else}0);
> > > Mh:=ValueWhen(1,Mh1>0,Mh1);
> > > Ml:=ValueWhen(1,Ml1>0,Ml1);
> > > PP:=ValueWhen(1,PP1>0,PP1);
> > > {Resistance 1}
> > > R1:=(2*PP)-Ml;
> > > {Support 1}
> > > S1:=(2*PP)-Mh;
> > > {Resistance 2}
> > > R2:=(PP-S1)+R1;
> > > {Support 2}
> > > S2:=PP-(R1-S1);
> > > R2;
> > > R1;
> > > S1;
> > > S2;
> > > --------------
> > >
> > >
> > > ----- Original Message -----
> > > From: Ian Harvey
> > > To: metastock@xxxxxxxxxxxxx
> > > Sent: Wednesday, June 14, 2000 5:49 AM
> > > Subject: Re: (Market) US bonds
> > >
> > >
> > > Hi List,
> > >
> > > I am new to the list, watching with interest over the past couple of
> weeks.
> > >
> > > I'm apologise in advance if this has been discussed previously, but
I
> notice Adam's chart
> > below has 'dots' attached to the bar line. It reminds me of the Pivot
> Point trading method that
> > was around a few years ago, mainly down on the floor in Chicago.
> > >
> > > If it is so, does anyone have the indicator and system tester for
the
> Pivot Point?
> > >
> > > Many thanks, and my thanks to the main contributors of this list
> Walter, Ton, Steve,
> > Thomas, etc). You certainly give us plenty to think about!
> > >
> > > Ian.
> > >
> > > ----- Original Message -----
> > > From: Adam Hefner
> > > To: metastock@xxxxxxxxxxxxx
> > > Sent: Wednesday, 14 June 2000 13:00
> > > Subject: (Market) US bonds
> > >
> > >
> > > Looks like a good position to place a short in the bond market.
> > > The Days action entered into congestion and we are at the
> > > projected monthly high levels (yellow dots). MIT short around
> > > 97-97.1 should be a good spot. I may be wrong!
> > >
> > > AH
> > >
> > >
> > >
> > >
> >
> >
> > >** --------- End Original Message ----------- **
> >
> > >
> >
> >
> >
> >
>
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