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Regarding the demo at www.neurotradingsolutions.com
I agree, pivots are very old and even trade station
offers them on their Indicators page below
http://www.omegaresearch.com/support/download_indicators_systems/p01.asp
I did notice that they mentioned that pit traders often
recalculate the pivots after the morning session.
Could somebody let me know exactly what time this would
be done. Since the close is involved in that calculation,
not having the exact time of the end of the morning session
would make the afternoon pivots completely useless :-)
Also does anybody use the recalculated afternoon pivot
and their related S/R numbers in their trading? If so,
how useful is it and on what types of days is it most useful?
I'd suspect that if we broke S2 or R2 in the morning, the
afternoon pivots would be much more useful than if we
had a choppy morning between R1 and S1. Any info you
can email me or post on this list would be very useful.
I primarily trade stocks based on the S&P's and also
the QQQ' based on the NASDAQ futures.
Thanks in advance
Chris Donnell
www.careerdaytrader.com
P.S. For anybody who wants the formula for calculating pivots
it is below.
Pivot = high + low + close / 3
R1 = (2 * Pivot) - Low
S1 = (2 * Pivot) - High
R2 = (Pivot - S1) + R1
S2 = Pivot - (R1 - S1)
Btw, if you don't want to calculate these each day, you can
get them from our website for the S&P's.
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