Jump to content
Sign in to follow this  

Any fix for Pivot Points on a Monday?

Recommended Posts

Hi,

I trade the DAX and FTSE using a 5-min chart and every Monday the pivot points indicator is messed up because of the sunday market. I've created a screenshot with a couple of drawings to hopefully show it. Is there a way to fix it please? Either to turn sundays data off from my charts. Or can the IG team please fix the pivot point indicator so on these particular markets it uses fridays data when creating mondays pivot points? I saw another member ask the identical question here but I didn't see a reply to them so I thought I'd ask again. Any help much appreciated. Thanks :smileyhappy:pivots-monday.png

 

 

Share this post


Link to post

The pivot point indicator puts all of the pivot points in the wrong place the indicator takes into account the out of hrs price movement. The majority of traders calculate the pivot points using only the open hrs of the market they are trading. Dax open hrs are 08:00 to 16:45 UK time and FTSE are 08:00 and ends at 16:30.

To calculate your own pivot points is the best way for them to be correct is to take the HI the low and close price from the previous day inside the hrs above then I use a a app called pivot point calculator to enter this information into then I use point to point lines on chart drawings to place the pivot points onto the chart. see picture. I hope this helps.

Screen Shot 2017-07-30 at 18.27.45.jpg

Share this post


Link to post

Thanks for trying to help Gaz777 but I've traded with pivot points for over a decade, I didn't ask for an opinion on how other people trade with them. My question still stands for IG staff :)

Share this post


Link to post

Hi

 

We offer FTSEGermany 30 and Wall Street markets Sunday trading from 8am until 10.40pm, the IG platform does not have the functionality where you can set custom trading hours for the charts, it will always display all the data.

 

If you would like to set your trading hours for charts then it is possible on ProRealTime which we offer through IG, however this will limit the historical data you are able to see.

 

If you would like more information on ProRealTime then please use this link: https://www.ig.com/uk/trading-platform-prorealtime

 

Thanks

Anton

Share this post


Link to post

Hi,

 

I have a problem with Pivot Points on the new platform. Namely, I cannot shrink the width sufficiently like it is on the mobile app. The lines are just too thick even if setting are changed to reduce the size. For example s1 covers the size of over 3 pips! Any ideas why the lines are so thick?

 

KS

Share this post


Link to post

Hi 

 

We have received some reports where users find the pivot points to be too wide, I have added your feedback to the list and we will look at improving this indicator going forward.

 

Thanks

Anton

Share this post


Link to post

Hi,

 

My problem is nearly the same as c-satch.  I only trade using cash hours data.  IG have pivot points set for the whole of the day which is misleading for me.  I know you can alter size, width of the lines etc, but as you've nearly got all the info in the edit part of the pivot tool, I would like the option to put my own Hi/Low/close in that edit mode so it will then give me "in hours" data.  I would then only have to put three figures in it and its done.  Can you help?  I cannot understate how important this is for me...and many others.  

 

Thanks

Share this post


Link to post

I see no reply to my previous question.  Makes you wonder why they even have these forums.

Share this post


Link to post

Hi   - thanks for your feedback and apologies there was a reply sooner. I have checked with our technical support team on this and they have confirmed that we have logged this feedback in the usual way, however we are not looking at implementing this on a current roadmap in the short to mid term. If we receive additional feedback from the wider client base then it can be something we look into, however unfortunately at the moment there is insufficient client demand to implement it. 

 

As an FYI it maybe worth having a look at Pro Real Time as Pivot point calculations between the PRT and IG charts will produce slightly different results on Mondays. ProRealTime calculate Pivot Points on Mondays from the high, low and close of Friday, and the open of Monday. IG charts calculate Monday Pivot Points on the Sunday data instead of Friday. As Sunday has limited trading hours this results in narrower pivot points for Monday.

Share this post


Link to post
Guest
This topic is now closed to further replies.
Sign in to follow this  

  • Member Statistics

    • Total Topics
      7,424
    • Total Posts
      37,731
    • Total Members
      47,700
    Newest Member
    JPJ
    Joined 18/09/19 13:22
  • Posts

    • yes they will be on less charts but I understand your point about the size of the moves in ftse, no harm in trialing them though you might find marking out the immediate prior high and low has more relevance.  
    • Yeah, I keep an eye on volume, that's why it's showing at the bottom of my chart However, I haven't been able to discover a strong relation between volume spikes and trend direction. Sometimes I see orders of the magnitude of 10-20k and the chart doesn't do anything special. Other times you see just average volume and the chart does huge turnarounds. For example what happened at 8.30 with that spike down and then going straight back up and making new highs vs previous candle? All happened on low volume
    • @jameswalker1 my recommendation is trade the demo account to get a better understanding of the costs associated. I traded demo for nearly 2 years before placing my first real trade. It will save you in the long run to get a better understanding of the costs involved.
×
×