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Thank you for your reply.... Let me rephrase have you done any testing and compared their pivots to your pivots or your FibonacciZones??? I have a friend that swears by them...Just curious because I know you have prob backtested them. I have used them years ago
you mean there is another world, a different perspective? No way! Chicago is an American city, in fact the center for all things meaningful. The "Cubs" are an American baseball team...baseball is similar to cricket...that has not won their leagues championship in over 100 years.
I though based on the questions and the way you where asked, that I could rely on you to know everything and to provide all of that information to me how and when I wanted it....the real American way it would seem.
you could take Fat tails daily pivot zones and set the zone width to reflect the range of the various pivot calc methods as referenced on the info he linked. The resulting "consensus" zones that are created might be useful.
I'm working on just that idea. I never thought to create a formula and to code it. Because if all of humanity relied on me to code something, bugs would rule the world. You could have various s/r pivot inputs, run them through a calculation that was weighted any way you wanted...call it "action zones" or something. Then be sure to post it so I can stop eyeballing price action.
Seriously though, i'd help with that if anyone cared to collaborate. DB
The idea of pivot farm is a good one. They take all pseudo-scientific fads used by traders and produce an overlay.
This will produce areas of excitement. When traders get excited they enter or exit positions.
If you look at the details:
Market Profile (TPO) -> 3 line of excitement Volume Profile -> 3 lines of excitement very close to TPO
Elliot Wave -> probably some ABCD style swing projections
Calculated Pivots -> floor pivots, maybe other types
Open Gaps -> occasionally some added lines of excitement
Naked VPOCs -> few added lines of excitement VWAP -> on unimodular days close to TPO
OHLC -> more excitement
Trendlines -> maybe based on daily data Initial Balance -> more lines of excitement
Fibonacci Retracements/Extensions & Clusters -> and more
Intraday/Prior day/week/month swing highs and lows -> and more
Moving Averages -> maybe based on daily data
In the end you will have about 100 lines on a daily chart. With an excitometer you can scan them and detect the
areas with the greatest thrills.
I used a similar concept with the FibonacciZones, but did not include the POCs, VWAPs and pivots.
