Rank: Member
Groups: Registered, Registered Users
Joined: 11/13/2005(UTC)
Posts: 10
Location: New York
|
Is this the correct formula for calculating the "traditional" S1, S2, R1, R2 pivots?
R#2:=((H+L+C)/3) - (2*((H+L+C)/3) - H) +
(2*((H+L+C)/3) - L);
R#1:=2*((H+L+C)/3) - L;
S#1:=2*((H+L+C)/3) - H;
PP:=(H+L+C)/3;
S#2:=((H+L+C)/3) - (((2*((H+L+C)/3) -
L)-(2*((H+L+C)/3) - H)));
R#2;
R#1;
PP;
S#1;
S#2;
|
|
|
|
|
|
Rank: Advanced Member
Groups: Registered, Registered Users
Joined: 4/18/2007(UTC)
Posts: 99
Location: sydney australia
|
I cannot answer your question, tried it out on chart anyway. it creates a pretty picture of zig-zaggy lines chasing around the outlines of the stock, but is it meant to serve any practical purpose??
|
|
|
|
|
|
Rank: Advanced Member
Groups: Registered, Registered Users
Joined: 1/19/2005(UTC)
Posts: 1,065
Location: Koh Pha-Ngan, Earth
Was thanked: 2 time(s) in 2 post(s)
|
You'll find the correct intraday Pivot level calculations and MetaStock formula here:
Forex trading strategy
jose '-)
|
|
|
|
|
|
Rank: Advanced Member
Groups: Registered, Registered Users
Joined: 4/18/2007(UTC)
Posts: 99
Location: sydney australia
|
I see what you mean. Thanks Jose! you are a fountain of wisdom.
if I understand correctly, this is one for the intraday forex specialist, not for the common or garden trader.
best regards
|
|
|
|
|
|
Rank: Advanced Member
Groups: Registered, Registered Users
Joined: 1/19/2005(UTC)
Posts: 1,065
Location: Koh Pha-Ngan, Earth
Was thanked: 2 time(s) in 2 post(s)
|
Amory is one of the older warriors, was trading speculative stocks when I was still in baby nappies.
Gee, it must have been at least 6-7 years since we last met, Amory.
Yes, pivot levels seem to work better in the more liquid intraday forex and futures markets - probably due to the self-fulfilling prophetic nature of the pivots themselves.
jose '-)
|
|
|
|
|
|
Rank: Newbie
Groups: Registered, Registered Users
Joined: 11/6/2006(UTC)
Posts: 5
|
Hi,i have a another formula..i found fr pivots..can u help how to plot it as an indicator on intraday 5 minute chart...
Adjusted Symeterically Projected Support And Resisitence(ASPS and ASPR)
To calculate ASPS and ASPR, calculate
the average daily range (high - low) for
the last 14 days. Next, divide the 14-day
average range by 2, then subtract (add)
the result to the previous day’s close for
the ASPS (ASPR). Or, put more formally:
ASPS = C - (Av e rage DTR, 14 * 0.5)
ASPR = C + (Av e rage DTR, 14 * 0.5)
w h e r e
C = Last closing price
DTR = daily trading range = high - low
|
|
|
|
|
|
Rank: Member
Groups: Registered, Registered Users
Joined: 11/27/2007(UTC)
Posts: 15
|
Dear Jose,
I am new to Metastock and am learning by trial and error. This formula works well it is just I cannot get the lines to display the various colours specified.
Do you have any suggestions as to what I need to change to make this happen.
Any tips would be much appreicated.
Thanks in advance,
Magda
|
|
|
|
|
|
| Users browsing this topic |
|
Guest (Hidden)
|
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
