Forex Pivot Point Calculator
Forex Pivot Point Calculator.
To calculate the Pivot point, two Resistance and two Support points based on the previous period High, Low and Close prices.
S & R indicator.
It is working on multiplied timeframe.
Wish you all a very Happy New Year!!
Does anybody have the ebook "Dinapoli Levels" by Joe Dinapoli?
Please post the same here.
Thanks and regards,
Already posted here.
the attached indicator for mt4 uses ZigZag to plot S/R trendlines for User Selectable Timeframes...
S/R is the key to trading success. I have found fibonacci pivots to be very good predictors of S/R.
I also have been using shi channels and linear regression channels but there is not much info about them.
I use Fibo S/R in my trading. They are one of the most commanly used S/R levels. Recently I came across a trader who was trading another form of this S/R called Super-kluster Fibonacci which are much better than the normal Fib levels. I dont have any literature on this nor have I seen any indicator programmed for this. Can anyone code SK levels ( as they are popularly called)? They work like magnets for price levels and can be used very successfully for exits?
Meanwhile I will try and search for any literature for this indicator.
It is somewhat like the Dinapoli Fib levels. I dont have much knowledge of how they are constructed, but would be interested in any indicator such as the one I have mentioned.
Any of you have any experience with SK levels??
There is a thread in forexfactory that is posting what he calls price magnets. Said he found them on 1 minute charts and seems to be very acurate as most all of them get hit within 24 hours.
Ref: Super-kluster Fibonacci
A DogPile.com search of the term took me to a FibMarkets.com 2003 weblog. Quote from that page:"SK = SuperKluster! It is an area of stronger support." I suspect someone at FibMarkets coined the term.
I am not sure if all the other stuff on the page is related to 'SK' but the following question and answer found there is noteworthy:
"Do older Fib Levels carry more 'weight' as Support/Resist then current ones...are they stronger then those based on todays prices action or yesterdays?"
"... yes they can be stronger, if they come from a higher time-frame. For example, weekly levels are much stronger than 5-minute levels.. So the further back they originate from, the better in general."
Hmmm, perhaps 'SK' refers to a price where Fibonacci lines from two or more time frames achieve approximate coincidence.
Suppose there is a fib line at 1.2000 on the 5 minute chart AND there is a fib line on a 15 or 30 minute chart at 1.2000 ( or 1.2003, etc.). There may even be a line at 1.1995 on the 1 hour chart. If this were the case you could say that the lines are 'clustered' (a.k.a., Klustered) or grouped around a price point.
Now suppose there was an indicator you could plug in fib values from other time frames and this indicator would alert you when a fib line on your active chart was close to your target value. Maybe it would change the color of the active fib line. What do you think?
I know we can draw in the lines from the other time frames, but the problem for me is that too many lines on a chart makes it less useful - making it harder not easier to make decisions.