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Frank,
The pivot is
Pivot:= (LastHigh + LastLow + LastClose) /3;
So you could use an indicator that plots just the pivot with a 3 or
5 sma like this.
mov(pivot,3,s) for a 3 day
mov(pivot,5,s) for a 5 day
Preston
--- In equismetastock@xxxxxxxxxxxxxxx, "stonesouls207"
<stonesouls207@xxx> wrote:
>
>
>
> 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@>
> 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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