Pivots & Session Times

[Harry]

I will check it. Could you please tell me
- indicator version
- instrument
- indicator settings (Local_Session, PriorDayHLC, S_Begin and S_End)
- your local time zone

[Harry]

Looks like EURUSD. I entered the values that I could read from the chart, that is

PD High = 1,3997
PD Low = 1,3878
PD Close = 1,3970

into the indicator panel and got basically the same lines as you did.

If I calculate by hand, I get

DailyPivot PP = 1/3*(PD High + PD Low + PD Close) = 1,3948
Daily R1 = 2*PP - PD Low = 1,4019
Daily R2 = Pivot + (High-Low) = 1,4067

This is exactly what your chart displays. So where is the mistake?

[blazer]

Hello,

This is the HLC from gmt 0

The chart is eurusd

In my mt4 system for the same period

R1 is 1.3995 in ninja is 1.4018

R2 is 1.4024 in ninja is 1.4067

S1 is 1.3902 in ninja is 1.3899

here is the pivots i have in mt4.I am trying to understand what is the mistake I make and they are not in agree.Maybe mt4 is wrong.

Thank you very much Harry for helping.

I use this mt4 indicator

with Alpari setting gmt +1

http://www.forexsharing.com/506761

[Harry]

I guess your MT 4 indicator is possibly using a different pivot point formula. The formula I used is the classical formula of the floor traders, so quite a number of traders are likely to react to it, but of course everybody is free to use whatever she or he likes. Besides classical pivots there are Tom ******'s (don't know why his name is suppressed, maybe he is a personal enemy of one of the developpers of NT...) ,Camarilla, Fibonacci or Woodie's Pivots. If you know the formula that your mt4 indicator uses, it is easy to modify the indicator to conform to it.

You might also want to check here

http://www.investopedia.com/articles/technical/04/041404.asp?viewed=1

http://www.pivotpointcalculator.com/

http://www.fxstreet.com/forex-tools/pivot-point-calculator/

http://www.actionforex.com/technical-analysis/pivot-points/pivot-points-summary-200603205734/