Pivot Level Analysis

[Sharky]

Today sees the introduction of pivot level analysis across all listed indices, accessible from the icons to the left of each index on the front page of T2W. This is the the first addition to a new data analysis section of the website which is currently being worked on, and which will hopefully expand to include charting, data mining and screening.

Pivot levels, or floor trader levels as they are sometimes known, are just one example of key levels that the market tests. Many floor traders, who dont not have a chart in front of them, trade exclusively off these levels. There are 5 levels in total, 2 support, 2 resistance and a mid level.

For more information take a look at http://www.snapdragon.co.uk/resource/talk/talk8.htm

 

[options]

Nice one Sharky,
Knew it wouldn't take you long to understand the formula.
What happened to me future pivots though (

John.

 

[Sharky]

Hi John,

Hopefully coming soon!

 

[Skimbleshanks]

What are your future pivots, and is there a formulae for working them out?

 

[options]

Hi Shimbleshanks,
The futures refered to are the liffe futures (near month) June.
Have a look at the link on Sharky first post.

Cheers

 

[Skimbleshanks]

Hi Options

I was the one who gave Sharky the link! lol

I misread your post - I thought you were referring to pivot points which projected into the future (such as wolfies), and not pivot points for Futures.

 

[options]

Hehe, NP m8,
Projected links into the future eh,
I'm still searching for a decent crystal ball or at least something that will allow me to be able to 'see' that right hand side of the graph before everyone else sees it!

John.

 

[Sharky]

I've updated the pivot levels page, so the values are fixed for each day ie. look in the morning/afternoon or evening and you'll see the pivot levels for that day. Also if you look over the weekend you'll see the value for Monday (or whatever the next market day is).

What seem to be happening before was the pivot level values were being updated during market hours, when they shouldnt because they're calculated on the previous high/low/close.

I'll be keeping an eye on them over the week to make sure the values are accurate.

And remember to see the pivot values click the icon next to the index value on the front page.

Sharky.

 

[ChartMan]

Just a quicky...seeing as pivot levels are considered so important by many, could the icon be made more prominent?

 

[Sharky]

Yeah I know what you mean.. leave it with me, I'll try and highlight them a bit better, perhaps I can even display them on the front page somewhere (if there's any room left!)

 

[Sharky]

You can now see all the pivot levels for Dow/Nasdaq and S&P500 next to the intraday chart, so just click the name on the index to switch between them.

Sharky.

 

[ChartMan]

Now that it just so neat. What a bonus.

 

[simy]

Hi Sharky

I just wanted to congratulate you. This is my favourite site and I use it on a daily basis, excellant stuff.

I don't know if you're aware but the pivot levels don't seem to update everyday. If it's because you have to do it manually would it not be better if you just place a link to a pivot calculator?

Thanks once again.

Simon

 

[Sharky]

Hi simy!

Thanks, for the praise Always appreciated!

The pivot levels *should* be updating automatcially but I've noticed they don't all the time. So leave it with me, I'll iron the gremlin asap.

Cheers
Paul.

 

[NickW]

Hi Sharky

The S&P floor traders work out pivot points and a few other key numbers before the open and take them to the pit on a notepad because they can't see charts. Hence I don't think they're reliable unless the index future is floor traded. How about having the S&P pivots on the front page instead of the DOW?

Nick

 

[Sharky]

Hi Nick,

They're already there! In order to view them you have to click the chart you're interested in, not only does this change the chart, but also the pivot points that it displays. Perhaps this isn't as clear as it could be. Also updating of the pivot points has been unreliable in the past, I'm going to ensure that they are correct every day but unfortunately for the moment you may find that some days the values are incorrect. I'll keep a close eye the rest of this week.

Paul.