DislikedMy original thought was to use the pivot point +or- 5 pips as to where to trigger the order. We are on the same page for S2, S3 or R2 and R3 as TP or SL points. My concern was that I might be getting the cart before the horse because I really don't have a lot of experience using the pivot points.
As far as which pair to use pivot points on - I think it would be applicable to all of the pairs. We would just have to define how big a daily move would need to be in order to use the pivot point logic instead of the 'normal' logic.
Again - all input is appreciated...
Tim
BTW Samantha - love the Proverb's quote - one of my favorites...Ignored
Hi -
I think your idea is ideal for large movements, only problem I can see is the variables that occur with pivot trading (they drive me crazy). The currency pair doesn't always head to say the S3/R3 levels after it reaches the S2/R2 level, it may head back to the S1/R1 level, etc.. It isn't so cut and dried and a trailing stop is almost always necessary. Risk may be in the TS?
I have a Metatrader Pivot Point & Fibo indicator which shows highs and lows and a couple of take profit levels - it's simple and effective.
I use it on my 1 hour chart. I am attaching it just in case your would like to review it to see if it could be somewhat adapted or help in developing an EA.
I also understand what mtaboneweb is saying - perhaps we need to wait a while and test the reverse EA. Too bad we can't clone him.
![](https://resources.faireconomy.media/images/emojis/64/1f60a.png?v=15.1)
Yep, good proverbs quote - ain't it the truth?
Let me know if the indicator helps.
Sam
Attached File(s)