Hi All,
I want to introduce a very simple way of trading.
Everyone is aware of Pivots in charts.
It is very difficult to track real time pivot on intraday charts during trading hours.
After surfing lot of site and struggling, i found the way to calculate pivot based on previous day values.
After the pivot is calculated the resistance and support levels are found.
Resistance and support are of two types (using normal method and using fibonacci method.)
You can use any one of them. Both gives good result. Stick to any one method.
The system is as follows, please give your feedback and suggestions.
1. Download the attachment CalculatePivots.zip. Extract the file and open it.
2. Enter previous day high, low and close for any scrip.
3. Pivot is an important value here.
4. Look at the price of stock/underlying at 10:25-10:30 am. (half hour after market opens)
5. For Resistance and support values, you can choose normal values or fibonacci values. Both give good results. It depends upon you which suits you.
6. There are various scenarios which can occur.
-----1. The price is below the Pivot but above S1.
--------In this scenario, you should buy the stock/underlying above Pivot (If price reaches above Pivot) and short sell below S1(if the prcies goes below S1).
----2. The price is above Pivot but below R1.
--------In this scenario, you should buy the stock/underlying above R1 (if the price reaches above R1) and short sell below Pivot(if the price goes below Pivot).
----3. The price is very near to pivot (+/- 0.1%)
--------In this scenario, you should buy the stock/underlying above R1 (if the price reaches above R1) and short sell below S1(if the price reaches below S1).
----4. The price is between R1 and R2.
--------In this scenario, you should buy the stock/underlying above R2 (if the price reaches above R2) and short sell below Pivot(if the price reaches below Pivot). the important here is not to sell below R1. You must sell below Pivot.
----5. The price is between S1 and S2.
--------In this scenario, you should buy the stock/underlying above Pivot (if the price reaches above Pivot) and short sell below S2(if the price reaches below S2). The important here is not to buy above S1, buy only above pivot.
----6. The price is between S2 and S3.
--------Same rule applies as rule 5. Buy above pivot, short sell below S3.
----7. The price is between R2 and R3.
--------Same rule applies as rule 4. Buy above R3, short sell below Pivot.
Keep the profit, stoploss as below
Profit : 0.75% - 1%
Stoploss : 0.5%
Please please do reply with your suggestions.
I hope many of you already knows this.
No theory can become 99% successful without people's suggestions.
Do reply with your valuable comments.
-------------------------------------------------------------------------------------------------
I have created a profit/loss report on daily basis for the 3 below mentioned theories
1. Simple Pivot Trading.
2. Modified Pivot Trading.
3. Camarilla Pivot Trading.
I will be updating this profit/loss report every day or every alternate day here on traderji.
You can now see the results of these three theories on daily basis..
Also,
I have already the profit/loss report for all these thoeries for last couple of days. You can go through them if you are intersted in these theories.
------------------------------------------------------------------------------------------------------------------------------
Hi,
I have completed the small version of the tool which gives you Support and Resistance And Pivot for next day.
I am attaching the tool in a zip file.
You will need to follow the below steps to use it.
1. Extract the zip file. Copy the pivot-Trading.htm file at your preferred location.
2. Open the pivot-Trading.htm file. If IE says, popup blocker, you need to click on the popup blocker and select allow blocked content. (This is optional. If you use XP and if your popup blocker is enabled, you will get this message.
3. Now select the 10 scrips or less of your choice which you wish to watch.
4. Click on the start button.
5. Once you click on the start button it will take 5 seconds to calculate all prices and show it in other page.
6. If you get the message "An activeX control on this page might be unsafe."
Select "Yes" option. The activeX control is required to read the prices from bhavcopy.
7. If you wish to watch some other scrips during the day you can select those scrip from (pivot-Trading.htm) file and click on Start button.
8. You will also need to copy the nse bhavcopy from nse website
http:// www.nseindia.com/archives/archives. htm (remove space)
9. Save the bhavcopy at C:\ drive and rename it to nse.csv.
The tool is capable of doing only below things.
1. The tool now calculates prices for selected scrips. You will have to select your wish of 10 scrips out of them. (Total scrips added are 47 - mostly traded scrips.)
2. This tool has a dependency on nse equity bhavcopy. (you need to download it and save it at C:\drive with name as nse.csv.
3. No dynamic alerts are shown at present. I am working on it and will try to do this in few days.
4. You can select only 10 scrips at a time because if you select more scrip, the performance gets affected.
I am attaching the new zip file also. The difference between this new file and old file is, this new file can calculate prices for camarilla system as well. There is already one thread in this forum which speaks about camarilla based trading. There is no other difference between these two zip files.
I want to introduce a very simple way of trading.
Everyone is aware of Pivots in charts.
It is very difficult to track real time pivot on intraday charts during trading hours.
After surfing lot of site and struggling, i found the way to calculate pivot based on previous day values.
After the pivot is calculated the resistance and support levels are found.
Resistance and support are of two types (using normal method and using fibonacci method.)
You can use any one of them. Both gives good result. Stick to any one method.
The system is as follows, please give your feedback and suggestions.
1. Download the attachment CalculatePivots.zip. Extract the file and open it.
2. Enter previous day high, low and close for any scrip.
3. Pivot is an important value here.
4. Look at the price of stock/underlying at 10:25-10:30 am. (half hour after market opens)
5. For Resistance and support values, you can choose normal values or fibonacci values. Both give good results. It depends upon you which suits you.
6. There are various scenarios which can occur.
-----1. The price is below the Pivot but above S1.
--------In this scenario, you should buy the stock/underlying above Pivot (If price reaches above Pivot) and short sell below S1(if the prcies goes below S1).
----2. The price is above Pivot but below R1.
--------In this scenario, you should buy the stock/underlying above R1 (if the price reaches above R1) and short sell below Pivot(if the price goes below Pivot).
----3. The price is very near to pivot (+/- 0.1%)
--------In this scenario, you should buy the stock/underlying above R1 (if the price reaches above R1) and short sell below S1(if the price reaches below S1).
----4. The price is between R1 and R2.
--------In this scenario, you should buy the stock/underlying above R2 (if the price reaches above R2) and short sell below Pivot(if the price reaches below Pivot). the important here is not to sell below R1. You must sell below Pivot.
----5. The price is between S1 and S2.
--------In this scenario, you should buy the stock/underlying above Pivot (if the price reaches above Pivot) and short sell below S2(if the price reaches below S2). The important here is not to buy above S1, buy only above pivot.
----6. The price is between S2 and S3.
--------Same rule applies as rule 5. Buy above pivot, short sell below S3.
----7. The price is between R2 and R3.
--------Same rule applies as rule 4. Buy above R3, short sell below Pivot.
Keep the profit, stoploss as below
Profit : 0.75% - 1%
Stoploss : 0.5%
Please please do reply with your suggestions.
I hope many of you already knows this.
No theory can become 99% successful without people's suggestions.
Do reply with your valuable comments.
-------------------------------------------------------------------------------------------------
I have created a profit/loss report on daily basis for the 3 below mentioned theories
1. Simple Pivot Trading.
2. Modified Pivot Trading.
3. Camarilla Pivot Trading.
I will be updating this profit/loss report every day or every alternate day here on traderji.
You can now see the results of these three theories on daily basis..
Also,
I have already the profit/loss report for all these thoeries for last couple of days. You can go through them if you are intersted in these theories.
------------------------------------------------------------------------------------------------------------------------------
Hi,
I have completed the small version of the tool which gives you Support and Resistance And Pivot for next day.
I am attaching the tool in a zip file.
You will need to follow the below steps to use it.
1. Extract the zip file. Copy the pivot-Trading.htm file at your preferred location.
2. Open the pivot-Trading.htm file. If IE says, popup blocker, you need to click on the popup blocker and select allow blocked content. (This is optional. If you use XP and if your popup blocker is enabled, you will get this message.
3. Now select the 10 scrips or less of your choice which you wish to watch.
4. Click on the start button.
5. Once you click on the start button it will take 5 seconds to calculate all prices and show it in other page.
6. If you get the message "An activeX control on this page might be unsafe."
Select "Yes" option. The activeX control is required to read the prices from bhavcopy.
7. If you wish to watch some other scrips during the day you can select those scrip from (pivot-Trading.htm) file and click on Start button.
8. You will also need to copy the nse bhavcopy from nse website
http:// www.nseindia.com/archives/archives. htm (remove space)
9. Save the bhavcopy at C:\ drive and rename it to nse.csv.
The tool is capable of doing only below things.
1. The tool now calculates prices for selected scrips. You will have to select your wish of 10 scrips out of them. (Total scrips added are 47 - mostly traded scrips.)
2. This tool has a dependency on nse equity bhavcopy. (you need to download it and save it at C:\drive with name as nse.csv.
3. No dynamic alerts are shown at present. I am working on it and will try to do this in few days.
4. You can select only 10 scrips at a time because if you select more scrip, the performance gets affected.
I am attaching the new zip file also. The difference between this new file and old file is, this new file can calculate prices for camarilla system as well. There is already one thread in this forum which speaks about camarilla based trading. There is no other difference between these two zip files.
Last edited:
