2nd and 3rd Level Pivot Formulas...

Discussion in 'Trading' started by BobbyMurcerFan, Mar 24, 2004.

  1. I have found a few different versions of the formulas for R2, S2, R3 and S3 here on EliteTrader and other websites. Which formulas do you use?

    CentralPivot + R1 - S1
    CentralPivot + PDH - PDL

    CentralPivot - R1 + S1
    CentralPivot - PDH + PDL

    CentralPivot + R2 - S2
    R2 + PDH - PDL

    CentralPivot - R2 + S2
    S2 - PDH + PDL

    Thanks Very Much!
  2. by simple algebraic operations whether these formulas are identical or not. They just might be... But, since I have a Ph.D. in math, I won't lower myself to do this...:D
  3. funky


    you are asking the wrong question. HOW do you find out what formula is used? come on now....we're not gonna do ALL of the work for you.....pick a market and test it! :D
  4. No they are not the same, algegraically or emperically.
  5. Sorry, with all due respect, I don't think asking a question about 2nd and 3rd level pivots formulas is asking anyone to do ALL my work for me.
  6. funky


    the point is: what does it matter WHO uses what? your p&l only cares which one works best for whatever market you are trying to trade.... not rocket science! ;) now shake your head up and down and say "yes funky, you are correct -- i'm going to go test out which one works best and use that one" :D

  7. You're worrying about something that's so old and now mostly used by retail traders who believe the baloney about the magic numbers being one of the floor trader's great "secrets" - maybe 30 years ago.

    Which formula you use doesn't matter - they'll all perform only marginally.
  8. Ebo


    I find the best use for Pivot Points is wiping my ass with them after I write them down on a nice soft roll of Charmin.
    A three wiper or higher I am a better seller.
    Less than 2 wipes and I am a better buyer.
    Works every time.
  9. funky


    hey now :D the guy might find a use for it...just cause YOU couldn't find a way to use it doesn't mean there is no use for it anywhere..... come on archy! ;)

  10. funky


    lol that was actually funny

    #10     Mar 24, 2004