|
PureBytes Links
Trading Reference Links
|
In my
understanding a pivot point is point that forms a minimum or maximum. An up
pivot point looks like ^. MetaStock specifies TraderTalk's formula for
PivotPoint as Typical Price which in my observations is the usual definition.
When I said price array I should have said data array as it can refer to price,
volume, RSI, or any other data array. I did not say anything about MetaStock
having a pivot point formula. I did say that MetaStock defines (H+L+C)/3 as
typical price. (H+L)/2 would be the midpoint between the high and the low. By
adding close and dividing by 3 this moves the data point to a point between the
midpoint and the close (a bias to the close).
<FONT face=Arial color=#008080
size=4>
<FONT face=Arial color=#008080
size=4>I hope this clears up anything that was not clear in my earlier
post. Please feel free to discuss this logically without personal
attacks.
<FONT face=Arial color=#008080
size=4>
<FONT face=Arial color=#008080
size=4>neo
<FONT face=Tahoma
size=2>-----Original Message-----From:
owner-metastock@xxxxxxxxxxxxx [mailto:owner-metastock@xxxxxxxxxxxxx]On
Behalf Of John ManascoSent: Saturday, April 06, 2002 10:39
AMTo: metastock@xxxxxxxxxxxxxSubject: Re: How can I get
a Line of the Pivot Point
I already did Lionel; see my earlier posts. And
Theo posted the correct formulas from the TraderTalk website. Neo's statement
that a pivot point is a price array is just plain wrong. And his previous post
on the same subject saying that the formula for typical price, which is
Equis pivot point formula, is an average of the bar with a bias to the close
is also wrong. It has no bias. And my comments weren't
unnecessary!
<BLOCKQUOTE dir=ltr
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Lionel
Issen
To: <A title=metastock@xxxxxxxxxxxxx
href="mailto:metastock@xxxxxxxxxxxxx";>metastock@xxxxxxxxxxxxx
Sent: Saturday, April 06, 2002 9:20
AM
Subject: RE: How can I get a Line of
the Pivot Point
<FONT face=Arial
size=2>John:
<FONT face=Arial
size=2>
it would be
helpful if you posted what you think should be the correct instructions
without any unnecessary comments.
<FONT face=Arial
size=2>Lionel
<FONT face=Tahoma
size=2>-----Original Message-----From: <A
href="mailto:owner-metastock@xxxxxxxxxxxxx";>owner-metastock@xxxxxxxxxxxxx
[mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of John
ManascoSent: Saturday, April 06, 2002 6:53 AMTo: <A
href="mailto:metastock@xxxxxxxxxxxxx";>metastock@xxxxxxxxxxxxxSubject:
Re: How can I get a Line of the Pivot Point
Well to be blunt Neo you don't have a clue as
to what you're talking about!
<BLOCKQUOTE dir=ltr
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
neo
To: <A
title=metastock@xxxxxxxxxxxxx
href="mailto:metastock@xxxxxxxxxxxxx";>metastock@xxxxxxxxxxxxx
Sent: Friday, April 05, 2002 4:06
PM
Subject: RE: How can I get a Line
of the Pivot Point
<FONT face=Arial color=#008080
size=4>Theo
<FONT face=Arial color=#008080
size=4>
<FONT face=Arial color=#008080
size=4>When you removed the definition parameters it will then plot. For
future reference, a variable will only plot if you put the variable name
by itself in the formula, after the definition. If within the formula
follow it with a ";", if it is at the end then the ";" is not
necessary.
<FONT face=Arial color=#008080
size=4>
<FONT face=Arial color=#008080
size=4>It would be incorrect to call your formula a pivot point. A pivot
point is a price array where the value(s) before and after are lower for
a high pivot point and the reverse for a low pivot
point.
<FONT face=Arial color=#008080
size=4>
<FONT face=Arial color=#008080
size=4>If we wish to communicate then proper use of names is
important. :-)
<FONT face=Arial color=#008080
size=4>
<FONT face=Arial color=#008080
size=4>neo
<FONT face=Tahoma
size=2>-----Original Message-----From:
owner-metastock@xxxxxxxxxxxxx
[mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of T.E.M.
LockefeerSent: Friday, April 05, 2002 1:05 PMTo:
metastock@xxxxxxxxxxxxxSubject: Re: How can I get a Line of
the Pivot Point
Hello NEO,
1) Thanks .
Please look at my TL
remarks.
<BLOCKQUOTE dir=ltr
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
neo
To: <A
title=metastock@xxxxxxxxxxxxx
href="mailto:metastock@xxxxxxxxxxxxx";>metastock@xxxxxxxxxxxxx
Sent: Friday, April 05, 2002
6:03 PM
Subject: RE: How can I get a
Line of the Pivot Point
<FONT face=Arial
size=2>
<FONT face=Arial color=#008080
size=4>Theo
<FONT face=Arial color=#008080
size=4>
<FONT face=Arial color=#008080
size=4>The formula you have written is for the "typical price" which
is a MetaStock parameter. It is an average of the bar with a bias to
the close. It is not a formula for a PivotPoint.
<FONT face=Arial color=#008080
size=4>
<FONT face=Arial color=#008080
size=4>TL : There are more people who call this the Pivot
Point (what is in a name :) )
<FONT face=Arial color=#008080
size=4>
<FONT face=Arial color=#008080
size=4> Question : what is in your opinion then the formula for
the pivot point ?
<FONT face=Arial color=#008080
size=4>
<FONT face=Arial color=#008080
size=4>
<FONT face=Arial color=#008080
size=4>In your formula you have created a variable (PivotPoint)
[which I might call TypicalPrice]. To get it to display add a second
line to plot the variable: "PivotPoint".
<FONT face=Arial color=#008080
size=4>
<FONT face=Arial color=#008080
size=4>TL : i got it to work with (H+L+C)/3;
<FONT face=Arial color=#008080
size=4>
<FONT face=Arial color=#008080
size=4>
<FONT face=Arial color=#008080
size=4>Thanks
<FONT face=Arial color=#008080
size=4>
<FONT face=Arial color=#008080
size=4>Theo.
<FONT face=Arial color=#008080
size=4>
<FONT face=Arial color=#008080
size=4>
<FONT face=Arial color=#008080
size=4>neo
<FONT
face=Tahoma size=2>-----Original Message-----From:
owner-metastock@xxxxxxxxxxxxx
[mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of T.E.M.
LockefeerSent: Friday, April 05, 2002 8:24
AMTo: metastock@xxxxxxxxxxxxxSubject: How
can i get a Line of the Pivot Point
Hello List
I want to see a line of the Pivot
Point in my chart
I have in Indicator Builder
:
<FONT face=Arial
size=2>PivotPoint:=(H+L+C)/3;
but i donot get the line ? How to do
that ?
Thanks
Theo
---Outgoing mail is certified
Virus Free.Checked by AVG anti-virus system (<A
href="http://www.grisoft.com";>http://www.grisoft.com).Version:
6.0.343 / Virus Database: 190 - Release Date:
22/03/2002
---Outgoing mail is certified
Virus Free.Checked by AVG anti-virus system (<A
href="http://www.grisoft.com";>http://www.grisoft.com).Version:
6.0.344 / Virus Database: 191 - Release Date:
2/04/2002
|