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Registered User
Joined: 7/30/2007
Posts: 1,072
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Bruce, are Fibonacci Pivot Points available? Indicators? PCFs? Or will I have to draw my own?
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Registered User
Joined: 7/30/2007
Posts: 1,072
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Hey Bruce,
I just found this out on another site. Sounds like Fibonacci Pivot Points are "PCF-able". Can you help when you get a few minutes? Thanks!
Fibonacci Pivot Points
Fibonacci Pivot Points start just the same as Standard Pivot Points. From the base Pivot Point, Fibonacci multiples of the high-low differential are added to form resistance levels and subtracted to form support levels.
Pivot Point (P) = (High + Low + Close)/3
Support 1 (S1) = P - {.382 * (High - Low)}
Support 2 (S2) = P - {.618 * (High - Low)}
Support 3 (S3) = P - {1 * (High - Low)}
Resistance 1 (R1) = P + {.382 * (High - Low)}
Resistance 2 (R2) = P + {.618 * (High - Low)}
Resistance 3 (R3) = P + {1 * (High - Low)}
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Administration
Joined: 9/30/2004
Posts: 9,187
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Try these and see if they work for you
Pivot Point (P) = (H + L + C)/3
Support 1 (S1) = ((H + L + C)/3) - (.382 * (H - L))
Support 2 (S2) = ((H + L + C)/3) - (.618 * (H - L))
Support 3 (S3) = ((H + L + C)/3) - (1 * (H - L))
Resistance 1 (R1) = ((H + L + C)/3) + (.382 * (H - L))
Resistance 2 (R2) = ((H + L + C)/3) + (.618 * (H - L))
Resistance 3 (R3) = ((H + L + C)/3) + (1 * (H - L))
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Registered User
Joined: 10/9/2011
Posts: 485
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Challenge with this formula is how do u draw them on say 15 mins chart as the HLC values need to be from previous day daily which is not possible with PCF as far as I know.
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Administration
Joined: 9/30/2004
Posts: 9,187
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Yeah, didn't think about using on intraday time frames. Not sure it's possible since you can't define the intraday H L and C for the previous day. You could at the end of the current day but that wouldn't be very useful.
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Administration
Joined: 9/30/2004
Posts: 9,187
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It would be tedious but you could draw horizontal lines on the chart, drag them to the values on the Daily chart and then they would remain as you changed time frames. And you'd have to reposition them each day based on the new data.
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Registered User
Joined: 7/30/2007
Posts: 1,072
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Hi StockGuy,
I should've been more specific. I'm trying out a setup & chart one of my trading friends uses. I've tried to convert her to TC2000 but she's a die-hard StockCharts subscriber ;)
Anyways, she trades a 30-minute chart. She uses Fibonacci pivot points, but on her chart it looks like the pivot points are weekly. Here's the chart: http://bit.ly/1WOcJoW.
Still sounds like I'm out of luck, though. Repostioning horizontal lines isn't an option as my watchlist has 100+ tickers.
Bummer.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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There isn't a way to plot weekly pivots on a 30 minute chart in TC2000 currently.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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