Is there a website or E mail service to get ESU or NQU E MINI BUY/SELL Pivot Points. Where do the Locals get these Points from? ebo
I just calculate my own from the following formulas from the previous day's statistics. Pivot=(H+L+C)/3 R1=(2xP)-L S1=(2xP)-H R2=(P-S1)+R1 S2=P-(R1-S1) P=pivot H=high L=low C=close R=resistance S=support The only websites I know of that give these charge for it. Easy Language for TradeStation has one that is automatic, but it does not work for the 24 hour charts I use. Don't be so impatient. We are all off for the 4th of July and having picnics!
If you're lazy like me, and you don't want to calculate them by hand everyday, here's a handy little download. It's called "Bruce M's most excellent calculator"
Most locals don't use the old pivot points anymore - they've used different methods for years. Pivots were thought up in the days before ubiquitous computing power and ready availability of realtime trade data.
I think he means fibonacci ratios....and Gann... those are so complex you need a program to do them unless you are a math genius. And they are based on pivots anyway. So plot the pivots, they do work.
Fibonacci is not complex, unless you try to make it complex. In which case it loses much of it's value IMHO. A few calculations is all you need for retracements and extensions. You can make a spreadsheet in less than 5 minutes to calculate the most common (and not so common) retracements and extensions. And, Fibonacci is not based on Pivot Points. There are always times when certain Fib lines overlap or come close to PP, however. Just like anything else - it is better to see multile indicators. You have a PP (R2), a Fib extension, and a downtrend line - you have a high probability for a reversal in that area.