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Question on the auto pivot TA


Scotteyy

Question

Asked on the FX exchange thread however received no reply so hopefully one of the IG team can answer me here. Can you plot daily/weekly/monthly pivot's all at the same time?Switching between can be tedious. Also is it possible to ignore Sundays data? As this seems to mess with the pivot system as it calculates based on the 3 hours the market is open on Sunday. 

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6 hours ago, Scotteyy said:

Asked on the FX exchange thread however received no reply so hopefully one of the IG team can answer me here. Can you plot daily/weekly/monthly pivot's all at the same time?Switching between can be tedious. Also is it possible to ignore Sundays data? As this seems to mess with the pivot system as it calculates based on the 3 hours the market is open on Sunday. 

Hi, not on the IG web based platform, you can on the IG MT4 platform where you can reload multiple indicators with different settings and many have a 'ignore Sunday data' setting.

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3 hours ago, Caseynotes said:

Hi, not on the IG web based platform, you can on the IG MT4 platform where you can reload multiple indicators with different settings and many have a 'ignore Sunday data' setting.

Such a shame. MT4 is so ugly and confusing to use. IG is just great to look at, but this is my only problem. I can avoid the sunday data by just using sundays pivot points. I guess i'll just have to plot weekly pivots each week...

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3 minutes ago, Scotteyy said:

Such a shame. MT4 is so ugly and confusing to use. IG is just great to look at, but this is my only problem. I can avoid the sunday data by just using sundays pivot points. I guess i'll just have to plot weekly pivots each week...

sure mt4 looks a bit dated but is still the most popular platform on the planet because it can do so much.

The problem with Sunday's shortened daily candle is that it mucks up the calculations for Monday's pivot points so an indicator that will ignore the Sunday candle and use Friday's instead gives the true PPs for Monday.

You can draw your own lines for Monday from a PP calc web page by imputing Friday's OHLC (or just use mt4 😉)

https://www.earnforex.com/pivot-points-calculator/

 

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If MT4/MT5 could overcome the limitation of not being able to handle shares I would use it ...

PRT does similar things but it's only free under certain conditions and it is also very dated-looking.

Edited by dmedin
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3 minutes ago, dmedin said:

If MT4/MT5 could overcome the limitation of not being able to handle shares I would use it ...

PRT does similar things but it's only free under certain conditions and it is also very dated-looking.

MT5 is the platform upgrade from Metaquotes to trade shares. 

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On 19/06/2020 at 09:53, Caseynotes said:

sure mt4 looks a bit dated but is still the most popular platform on the planet because it can do so much.

The problem with Sunday's shortened daily candle is that it mucks up the calculations for Monday's pivot points so an indicator that will ignore the Sunday candle and use Friday's instead gives the true PPs for Monday.

You can draw your own lines for Monday from a PP calc web page by imputing Friday's OHLC (or just use mt4 😉)

https://www.earnforex.com/pivot-points-calculator/

 

Yeh I tend to just use sundays pivot points as thats based off fridays data and price does seem to react to it. I may get into using MT4, I have it downloaded, it just looks confusing :D I do wonder why IG can't just make it an option to allow daily/weekly/monthly pivots all at the same time, doesn't seem like a monumental task. 

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3 hours ago, Scotteyy said:

Yeh I tend to just use sundays pivot points as thats based off fridays data and price does seem to react to it. I may get into using MT4, I have it downloaded, it just looks confusing :D I do wonder why IG can't just make it an option to allow daily/weekly/monthly pivots all at the same time, doesn't seem like a monumental task. 

Because they can turn around and say 'you can do that in PRT'.

I've no idea what their business objectives are with the web platform but they don't seem to have any interest in making it feature-parity with PRT.

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13 hours ago, dmedin said:

Because they can turn around and say 'you can do that in PRT'.

I've no idea what their business objectives are with the web platform but they don't seem to have any interest in making it feature-parity with PRT.

there is no 'one size fits all' platform, most platforms can be divided into made with the emphasis on dealing or made with the emphasis on charting, take your pick or use both, there is nothing to stop you having 2 platforms open at once.

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35 minutes ago, Caseynotes said:

there is no 'one size fits all' platform, most platforms can be divided into made with the emphasis on dealing or made with the emphasis on charting, take your pick or use both, there is nothing to stop you having 2 platforms open at once.

TradingView seems to have the best features of all three combined.

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1 hour ago, dmedin said:

TradingView seems to have the best features of all three combined.

yes but then you are into the realm of pay for subscription platforms and need to compare with the likes of Sierra Charts and PRT premium to name just a few. so a reminder then that you are using a free broker giveaway platform, it does all the basics and should be good enough for most but if you are looking for more then they are out there.

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