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Floor Pivots - The Dev Money Zone Indica
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KeithParsons
Posted 1/18/2012 10:37 AM (#3342)
Subject: Floor Pivots - The Dev Money Zone Indica



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Hi All,
I have placed in the attachment an extract from Frank O. book - Secrets of a Pivot Boss. Please firstly refer to the attachment which leads to my reason for placing this thread's two (2) questions.

a) Has anyone placed the formula iDevPivotRange into their OT Pro ?
b) If so, is the indicator showing where the central pivot range will be located in the following session. In his book fig. 6.2 shows an example of this formula.

I am very interested in finding out how this formula works and if it shows the next day's centralpivot range

I am trading forex and intend to upgrade to OTPro and diversify into shares etc. in the near future. Presently, my Money Zone indicator "Developing Money Zone" does not give the next sessions central pivot range on my forex charts.

Attachments
Attachments The Developing Pivot Range.docx (12KB - 27 downloads)
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MelDickover
Posted 1/18/2012 11:58 AM (#3343 - in reply to #3342)
Subject: Floor Pivots - The Dev Money Zone Indica



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Yes, the code in Frank's book works, and is all available for use in OT Pro, which I believe to be a very good investment.

What I think is not such a good idea is using floor pivots and Money Zone on Forex, for the following reasons:

There is no central place for price and volume for Forex. Thus the significance of the volume at price for Forex is greatly reduced, IMHO, compared to stocks or futures. You do not see "all the volume" from any data feed I am aware of.

The idea of a day is a big deal for stocks and futures, but not for Forex. Thus you do not have a lot of floor traders and others calculating pivots from yesterday to trade with today. In fact, many traders define "days" differently depending on what time zone they are in and what size bars they are trading. What seems more useful to me are the "opening range" effects of various exchanges like New York, London, Tokyo, and so on around the world and the clock.

I think the Forex market is enough different from stocks and futures that you should be careful when you first approach it.

Mel

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KeithParsons
Posted 1/18/2012 12:13 PM (#3344 - in reply to #3343)
Subject: Floor Pivots - The Dev Money Zone Indica



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Hi Mel,
Your response drives home to me once again the value of the TradeTight platform. For instance I had overlooked the Volume @ Price aspect as indeed one does not see 'all the volume" from the data feed. Indeed the opening effects of the various exchanges is of prime importance.

Really appreciate your response. Thank u.

Transferred by on 1/18/2012, Original Author: Keith Parsons - 1/18/2012, Original Title: Floor Pivots - The Dev Money Zone Indica

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JackBarry
Posted 1/19/2012 12:43 PM (#3345 - in reply to #3342)
Subject: Floor Pivots - The Dev Money Zone Indica


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Keith, how do I download The Developing Pivot Range.docx?

Transferred by on 1/19/2012, Original Author: Jack Barry - 1/18/2012, Original Title: Floor Pivots - The Dev Money Zone Indica

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KeithParsons
Posted 1/20/2012 1:21 AM (#3346 - in reply to #3345)
Subject: Floor Pivots - The Dev Money Zone Indica



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Hi Jack,
I have saved it in PDF. Unless you have the book Secrets of a Pivot Boss it wont make any sense.

Have a gd weekend


Transferred by on 1/20/2012, Original Author: Keith Parsons - 1/18/2012, Original Title: Floor Pivots - The Dev Money Zone Indica


Attachments
Attachments The_Developing_Pivot_Range-2 pdf.pdf (32KB - 32 downloads)
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