Any Pivot Point Traders here?

[Handle123]

Pivot point analysis I did when pits were open, I didn't trade lines but how price reacted to lines.

I found differences between yesterday's close and few minutes before today's close one pattern and last Friday's close and it being it is Friday, , reversion to the mean type signals.

ORB for me worked better on breakouts of so many minutes going with trend, preferable long since overall stock market rises 65% of the time. But risk always been like 10pts in ES.

 

[Laissez Faire]

Backtest I'm doing at the moment, the results are very good but the idea is so cavalier I'm not believing my eyes, so I'm thinking about it testing it out at baby size next week or two to see if it could actually work.

First I'm hearing of rolling 50% level, what does that entail?

No need to even use baby size for forward testing, IMO.

I simply called it the rolling 50 % level as it will update as the range expands during the day. So, if you want to back-check it manually, you'd need an indicator which plots the 50 % level for the range at that point in time.

Dotted blue line below.

Often, but not always, the market (ES) will pull back to the 50% level. Trading above the Open / 50 % is generally a bullish bias for me and also vice versa below (although these days can more often reverse than similar days to the up side).

 

[hilmy83]

No need to even use baby size for forward testing, IMO.

I simply called it the rolling 50 % level as it will update as the range expands during the day. So, if you want to back-check it manually, you'd need an indicator which plots the 50 % level for the range at that point in time.

Dotted blue line below.

Often, but not always, the market (ES) will pull back to the 50% level. Trading above the Open / 50 % is generally a bullish bias for me and also vice versa below (although these days can more often reverse than similar days to the up side).

View attachment 315057

VWAP's brother from another mother

 

[Dollardogs]

No need to even use baby size for forward testing, IMO.

I simply called it the rolling 50 % level as it will update as the range expands during the day. So, if you want to back-check it manually, you'd need an indicator which plots the 50 % level for the range at that point in time.

Dotted blue line below.

Often, but not always, the market (ES) will pull back to the 50% level. Trading above the Open / 50 % is generally a bullish bias for me and also vice versa below (although these days can more often reverse than similar days to the up side).

View attachment 315057

That makes sense now, I'll start keeping an eye out for that 50% level specifically.

 

[lindq]

Backtest I'm doing at the moment, the results are very good but the idea is so cavalier I'm not believing my eyes, so I'm thinking about it testing it out at baby size next week or two to see if it could actually work.

First I'm hearing of rolling 50% level, what does that entail?

It may help you to look at the reaction to an open < or > a pivot point, as opposed to the open itself.

 

[murray t turtle]

That makes sense now, I'll start keeping an eye out for that 50% level specifically.

%%
THAT makes sense;
put enough trend lines on a chart, may hit something.
Looks a lot like Don Channels steps, except pivot points seem to be too much noise data for me; except where they join d channels LOL

 

[SunTrader]

eMini Pivot and R1 working so far today:-

 

[Laissez Faire]

That makes sense now, I'll start keeping an eye out for that 50% level specifically.

Today, it offered a nice short entry thrice on ES.

I don't know if it works on other instruments. ES is all I follow in detail.

It offered a nice pullback long on Monday.

Nothing works all the time, but I find it generally is a fine line in the sand to watch out for.

PS: Yesterday, it offered a nice pullback long on NQ. Overshot it by a bit, but close enough.

 

[scalpi]

I use Pivot Points since a very long time as exit point.
It works very well, specially in the ES. I stay only in the market if there is still strong momentum in the market (around the level), then I try to come to the next level, but i always have a stop at the level area (very soon after passing).
To enter the market I use other things (breakout in short timeframe).

You, Dollardogs, say you have very good back testing results. What that means in detail ??

 

[SimpleMeLike]

So I'm curious if anyone else here has any pointers (no pun intended!) on pivot points and how to optimize using them for daytrading?

Hello Dollardogs,

I used Pivot Points before as support and resistance.

Buy around R1 and R2 and Sell around S1 and S2.