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Hi Jose, What I am trying to do is draw a 3 and 5 SMA of the actual
Pivot Points based on the standard Pivot Point calculation against the
plotted shown Pivot Point for each day, as shown in figure 4.
I would also like to do a exploration based on the buy and sell strategy
as shown on figure 5.
Here's a quote from the article:
"Since this technique is useful for short-term trading, it maybe worth
your while to determine the short-term trend. Analyst Neil Weintraub
introduced a methodology to help determine both the daily and short-term
trends using pivot points. Besides looking at just the pivot points, he
also uses their average. The period you use for calculating the average
depends on what works best for you. After experimenting with various
periods, I found the three-day average of the pivots to be the most
useful with which to determine the daily trend. I update the three-day
average on a daily basis and compare it to the pivot point. If the daily
pivot is higher than the three-day average, it is indicative of a
positive trend. If, on the other hand, it is lower, that indicates a
negative trend. Next, I look at the five-day moving average to determine
the weekly trend. If the pivot is above the average, a bullish trend is
indicated. If it is below, that is a bearish sign (Figure 4).
If both the daily and weekly trend shows bullish strength, I consider
going long. Conversely, if both show a bearish trend, I consider
shorting. If there are conflicting signals, I stay out of the market.
This method helps to get a broader picture of the market."
Thanks, Frank
--- In equismetastock@xxxxxxxxxxxxxxx, "Jose Silva" <josesilva22@xxx>
wrote:
>
> Check out the intraday pivots code found here:
> http://www.metastocktools.com/MACDH/Forex.htm
>
>
> jose '-)
> http://www.metastocktools.com
>
>
>
> --- In equismetastock@xxxxxxxxxxxxxxx,
> "stonesouls207" stonesouls207@ wrote:
> >
> > Hi All, I just loaded a PDF file on pivot point trading into the
> > files section.
> >
> > Seems that this is a great article on the subject.
> >
> > It would be great if some of you code writers out there could post
> > a indicator and exploration based on the article.
> >
> > Thanks,
> > Frank
>
[Non-text portions of this message have been removed]
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