How to Calculate Pivot Points in Forex
I was wondering what the market convention is for calculating the daily open, high, low and close.
as the market is open 24 hours, what should I use as the cutoff for the day?
It seems the majority of fx websites use 5pm EST to calculate their pivot points but the use midnight EST for the cutoff on their daily charts, I am just a little confused what I should use.
Rob
From my successful trading experience I use the full day (mid to midnight Eastern time). Sometimes calculations are pretty similar when market stops trading past 5pm, but it is not rare to see price continuing trending after 5pm, then daily pivots and 5 pm based pivots will differ a lot. Again, I was never disappointed with my way of calculation, it is dead right every time. Try it.
When a pivot point has been calculated for a 1 day chart, does it remain the same on all time frames or does a recalculation have to be done for each time frame?
It remains the same for all time frames for the entire day of trading. No need to do any further calculations, you trade with the same daily pivot points on all time frames be it 1 day, 1 hour, 5 min or 1min chart.
Pls what's the formula for calculating forex mid points?
Pivot = (High + Low + Close) / 3
R1 = 2 * Pivot — Low
R2 = Pivot + (High — Low)
Midpoint between R1 and R2 = R1 + (R2 — R1) / 2
Midpoint between Pivot Point and R1 = Pivot + (R1 — Pivot) / 2
where "Pivot" - Pivot point
R1 - first resistance
R2 - second resistance
Hi! Given that the NY closing time is 5.00pm EST, could you please tell me the ACTUAL time to use to calculate an accurate Pivot Point in France? Thanks.
Time offset for France is +6 hours.
Thus, if you base your calculations on 5pm EST NY close, then you would use 11pm to 11pm your local time.
However, bear in mind that for every Forex broker you will have a different trading platform server time, e.g. some platforms may use EST, some GMT, some GMT+2 and so forth. You want to calculate the Pivot points in accordance to actual server time of your trading platform. Even if you have an option to change platform time zone settings, the server still will be feeding data according to its internal time.
Ask your Forex broker about Platform's server time, they should be able to give you the answer. Then, whatever you get, convert it to EST and calculate accurate Pivot points based on Forex trading platform server time of your Forex broker.
Pivot points: Are they calculated at midnight if I live in US EST or at 8pm which would be 00:00 GMT?
For US EST time you should Calculate Pivot points at midnight EST.
How does one calculate the pivot points for a Monday? Does one use the open, high and low of previous Friday? What about the few hours of Sunday?
For Monday Pivot points use time from midnight EST on Friday to midnight EST on Sunday.
hi, is there a pivotpoint calculator that draws daily new lines and include the midpointsthanx
Do you mean custom indicator for Metatrader that would draw lines for you daily?
Here is Pivot Point indicator with midpoints:
PivotPoints_midpoints.mq4
I am in Nigeria. pls what is the best time for pivot calculation?
what time frame works best for pivotpoints?
Most popular time frames for pivot points calculation are 1 day (daily pivots), 1 week (weekly pivots) and 1 month (monthly pivots).
Daily pivots are ideal for trading short time frames: from scalping on 1 min or 5 min time frame to 15 min and hourly trading. Weekly pivots help to identify market support and resistance levels for hourly as well as 4 hour time frames. And finally weekly and especially monthly pivots are good for trading daily charts.
The best time for calculating pivot points is known to be midnight to midnight Eastern time. However you may also use 5:00pm to 5:00pm EST to calculate pivot points.
Do you know any free online Pivot point calculator for Forex?
This is an online calculator: Pivot point Calulator where you can calculate your own Pivots.
These are ready to use: Calculated pivots
Hello, You are doing good job here. Am Little confused about which day's open and close I should fill and recond with when calculating daily,weekly and monthly pivot point. Please help me out on this.
Udom(Nigeria)
Hi Udom,
When we calculate daily pivots points we take previous day high, low and close.
For example, today is March 6th, in order to find out daily pivots for today's trading we go back to March 5th (you can use daily charts) and take its high, low and close values, which we put into the Pivot calculator.
When we want to find out weekly pivots, we take into consideration the previous week. Again, for today's trading (Friday March 6th), we would go 1 week down to the last week of February. We take the range from Monday to Friday and again look for the high, low and close.
When we want to trade with monthly pivots, then we use previous month's high, low and close. Today is March 6th, so we would use the data from February. To be specific, we take the range form February 1st, to February 28th, and within this range we identify the High, the Low and the Close.
in every case (daily, weekly, monthly or hourly) Pivots the formula remains the same.
Hi, am a new trader please how can i determine my high, low and close position to calculate pivot
Switch over to daily charts and mouse over the previous day candlestick, your trading software will show you something like:
O 0.5555 (means candle open at 0.5555)
H 0.7777 (means candle's highest values was 0.7777) and so on
L - Low
C - Close
Alternatively, pull up hourly charts.
In candlestick range from midnight to midnight previous day, find the
lowest price value - that's your low (L)
highest value - that's your high (H)
close - the value with which the day (the last hourly candlestick in
the range) has closed.
hi, when M1 > M3 = selling, and when M2 < M4 = buying is it true?
thank you, joe
Hi joe,
I've never heard of such equations.
They make sense, but I can't see how you would apply them on practice.
When calculating Pivot points and mid levels, you will have all M1, M2, M3, M4 below pivot and another M1, M2, M3, M4 above the pivot line.
You can compare the values, but how do they relate to where the price is now trading?
I wouldn't pay any attention to these equations.
I trade in mcx india commodity in copper with pivot points. i want to know that the market is open above pivot point and then cross the pivot point. if market open above pivot level i buy a commodity i set a stop loss just below pivot point and my stoploss is trigrred. i want to know which time i buy a copper and market hit R1. how i judge the market go to pivot level or r1 level. please help me
Don't forget that Pivot points are just support/resistance levels, sometimes trading with pivots alone is not enough to profit from the market on every day basis. You may want to consider adding another indicator to help you exit trades sooner or filter out risky trades. 50 SMA is a simple way to judge about prevailing trends. It is also another support/resistance line, called the moving S/R line.
Also make sure to check higher time frame pivots. For example, if you trade with daily pivot points, take a look where weekly and monthly pivot points are. This information will give you another look on how high your profit chances are.
nice work you are doing.sir, i want to know how to calculate mid point M1,M2,M3,M4 and when to use it as well as how to get calculator in my window when trading.thank you.chiudo from nigeria
Midpoint between R1 and R2 = R1 + (R2 — R1) / 2
Midpoint between Pivot Point and R1 = Pivot + (R1 — Pivot) / 2
Use this Pivot point calculator.
Am i suppose to click on the candle sticks for the past day or how do i get my high low and close price to put in my calculator
philip
Just point your cursor at the previous candlestick, the platform will highlight the data for you.
I prefer the New York open. i am in Ghana and want to know when to calculate pivots for this market. Thanks
Your time zone in Ghana is GMT.
New York time zone is GMT-5.
Assuming that your Forex broker runs on GMT time, you would have to subtract 5 hours from the midnight hour (you'll get 19:00) and calculate pivots based on data from 19:00 to 19:00 GMT.
I have a question. I've been using FOREX.COM to practice my trading. It's a demo account that expires after 30 days. They have a pivot point function that automatically calculates pivot points for the daily, weekly, and monthly pairs. Do you know if there's a free calculator on the web that can do that? I'm not good at calculating weekly and monthly pivots. Thanks in advance.
Hey the pivot point code you put up, the PivotPoints_midpoints.mq4 code
Is this coded for EST time? I am in new york will this calculate the pivots from 12am-12pm est?
Thanks,
Elsid
Dear friend i have tried alot but couldnt find any website which gives PP based on your desired time frame.is there any website or can u tell me any place from where i can get 12-12 EST or 5-5 EST Pivot Point
where can i buy a perfect pivot point indicator software and how much? thnk u.
Good work. Pls am a beginer & am not getting the formula, can you work on any figure for me as example for better understanding? Thx Rasheed
Hello,
I have you 1 hour pivot point level some times next hour open below pivot point so it must down tred why go uptrend pls give me reply By AMEEN NAVAS
IS it necessary that Resistance will be in increasing order and support will be in decreasing order?
Hi,i am a trader in Nigeria my question is at the beginning of the trading section in Austraila will the opening price always move towards the pivot price since it is believed that the pivot act like a magnet.
John Amotsuka
Hi, i will like to know if it will be appropriate to use 0.00GMT - 0.00GMT or 8am GMT to 8am GMT to calculate pivot point.
my time zone is GMT+1. given my time zone, will it be better to use midnight EST or GMT to calculate my pivot points
Welldone, i really appreciate your good lecctures, is it possible to calculate pivot point even if d maket forthe is opened? i think is all about using the last candle of the previos day. secondly how does pivot point works
am chris by name from Nigeria what do you mean by sayiny 5pm EST to 5pm EST time FOR EXAMPLE IS IT 5PM EST MARCH 4TH TO 5PM EST MARCH 5TH FOR MARCH 6TH PIVOT TRADING
my email chrisorums[]yahoo.com.
thank you
The first principle i learnt in forex was buy below and sell above pivot point,it doesnt seem to work practically as i have severally applied the principle and lost.
Hi
I am trading with the IG plateform in London (UK) and I notice the Pivot Point are already on the charts when we open up the charts to trade. Have this PP already been adjusted automatically as shown or do we need to recalculate the PP for the day?
Beginner xx
Sir, I am new to PP uses GMT+1 timezone. Please I will like to find out if what I think is exactly correct. For Wednesday PP calculation, am I suppose to use (Monday 24:00GMT) and (Tuesday 24:00GMT) to find my Open, High, Low and Close?
Harris
God i wld luv to makd money via forex but in a hundred trade only 5 succesful trade is made. Wat is the best strategy to use in forex i dont have money to buy all those expensive softwares fx expert buy for now. I need your help. Chiudo(Nigeria)
CAN SOMEONE TELL ME HOW TO CALCULATE MY PIVOT POINTS IF I AM IN LEBANON GMT+2
I live in california,san jose .The market open at 6.30 am to 1.30pm,how can I use to calculate on the daily chart what time?
and all forex stop trading on evey friday at 1.30pm or 2.00pm
and re-open on sunday?From ANH KIM
Its adjusted automatically,you dont need to recalculate the pp..
i have used pivots in mcx trading .& achieved good result.thanks.a bought commodity always on suport1 , sl on s2 ,tgt below r1............is it right policy of trading ?......suggest me virendra sharma from hindaun city india
Hi, I am a commodity trader mainly gold and silver and never used pivot formula. Does pivot formula work for gold and silver?
Is there pivot points mq4 indicator, where possible set in code calculate pivots based on data from 20:00 to 20:00 GMT???
hi can some one tell me can i calculate the pivot point in mid of the day means in running market
Hi, pls what time is best to calculate PP for GMT+1 using the US time?
(2) what is the time frame for the above time zone i.e mkt open and close time?
(3) what is the best time to trade And what is best currency pairs to trade In the above time zone?
Thank you in advance.
Olalekan.
plz tell how can i get above buy & below sell in mcx prices which calcation shoud i use pls tell
Hi, can I calculate pivot points for a 5,10 15 min timeframe and then use it in the same time frame or does it need to be a daily time frame?
Sir i am trading MCX india commodity ZincMin, i calculated the pivot point for 3/2/2012 depends upon 2/2/2012 High=104.90 Low=102.15,Close=102.55 Pivot point on 3/2/2012 PP=103.20 Support1=101.50,Support2=100.45, Resistance1=104.25 Resistance2=105.95,here where i go to trade long term and short term, i really confused to enter in the market,where to place stop loss order, please send the details
sir,
where can get gold historical data with PIVOT levels, i mean history of pivotpoints crossed in gold(XAU)
How many hours does a session last, is it 9hrs 0r 10hrs lets say Sidney session?
I am a Nigerian thanks and do have wonderful time!
http://www.fxpivot-points.com/pivot_point_calculator/02/
they are allowed to do all sorts of thnigs to make you loose.As for the university- save your money! go to FXCM's website- open a practice account- you will have access to all their tutorials- however- all you need to know is to buy when the price drops- then sell when it peaks in the other direction- about 2-7 minutes later. Don't trade on Fridays or when they are making financial announcements on the news. Open an account with at least 25k or you will be trading off exchange Plus- opening an account with anything less wont get you anywhere fast. With 25k you can make 15k a day. I can- so you can too. Never use more than 1/3 of your margin.Don't ever use stops Always sit and watch the chart anytime your holding a contract.good luck!