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TRO pivots

Posted: Wed Jan 20, 2010 10:31 pm
by brownturtle
Hello Avery
Have been using for quiet some time now, your Indicator TROPIVOT5, not necessarily as an entry point, but price tends to gravitate to these lines, more so, in my opinion than the traditional daily pivots. was just wondering on what you have based these on, im not interested in the source code, but just the reason behind them
thanks in advance
Anthony

Posted: Thu Jan 21, 2010 12:48 am
by TheRumpledOne
Image

You have the source code. It was posted in the Motherlode.

It is the regular pivot price formula:

PP = ( high + low + close ) / 3.

TRO_PIVOT5 shows the current PP and the PP for the 4 previous day's.

Thanks

Posted: Thu Jan 21, 2010 1:22 am
by brownturtle
Thank you for the prompt reply... its amazing how the price gravitates to these areas,a and when you have 2 lines close together, how they act as strong support/resistance

Posted: Thu Jan 21, 2010 4:32 am
by Patch
brownturtle

Welcome to kreslik, my very favorite trading site.

Are you a turtle?

A turtle follower/fan?

I am thinking lately that longer term time frames is where the big profits are earned. Skills learned, not luck.

Patch
In VA

Posted: Thu Jan 21, 2010 8:02 am
by PTG
Patch wrote:I am thinking lately that longer term time frames is where the big profits are earned. Skills learned, not luck.


It's about having an edge and exploiting it. That requires discipline.

Not as easy as it seems :roll:

Posted: Thu Jan 21, 2010 8:36 pm
by sidney18
what is the best way to trade pivots? is there any other indicators to use with them?

Posted: Thu Jan 21, 2010 10:46 pm
by TheRumpledOne
Trade with the candle color. Use the TRO_MULTI_METER_CANDLE_COLOR indicator.