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Originally Posted by harold4x
Ok Concerning The Pivot Indicator I Set It To 5 We All Are Using Neuimex Platform I Presume So There Time Is Fixed The Reason I Set It To 5 Is This Will Calculate Pivots Based On Full Day 12 Midnight To 12 Midnight There Are Loads Of Schools Of Thought About What Time To Use Some Use 5 Pm Ny After Ny Closes Some Use Others I Have Found That Aday Is A Day 24 Hours From Midnight To Midnight And They Seem To Me To Work The Best Take A Look How Price Hits These Pivots And Bounce And You Will See That This Timeframe Works Pretty Good At Least For Me The Website Uses 8 Pm Est To Calculate Which Is 00 Gmt Time
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Hi Harold,
When you say midnight to midnight that means a lot of time variations for people. So do you mean midnight to midnight USA/EST or midnight to midnight CET which is what the Neumix platform time is set too? Depending on what time frame you use there can be a 10+ pip difference in pivot levels. I just think people want to understand what time frame in relationship to their local time the indicator is using to calculate the pivot points. I agree with you 24 hours is 24 hours and you seem to have a lot of sucess so I've changed my settings from "0" to "5". I did notice on my chart when I change the settings the pivots start to calculate from 5 CET on the charts instead of 00 CET. I hope I didn't confuse anyone.
Dave