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Forex Pivot Point Calculator.
To calculate the Pivot point, two Resistance and two Support points based on the previous period High, Low and Close prices.
the attached indicator for mt4 uses ZigZag to plot S/R trendlines for User Selectable Timeframes...
__________________ "You should not have a favourite weapon. To become over-familiar with one weapon is as much a fault as not knowing it sufficiently well. You should not copy others, but use weapons which you can handle properly. It is bad for commanders and troopers to have likes and dislikes. These are things you must learn thoroughly." Miyamoto Musashi
I use Fibo S/R in my trading. They are one of the most commanly used S/R levels. Recently I came across a trader who was trading another form of this S/R called Super-kluster Fibonacci which are much better than the normal Fib levels. I dont have any literature on this nor have I seen any indicator programmed for this. Can anyone code SK levels ( as they are popularly called)? They work like magnets for price levels and can be used very successfully for exits?
Meanwhile I will try and search for any literature for this indicator.
It is somewhat like the Dinapoli Fib levels. I dont have much knowledge of how they are constructed, but would be interested in any indicator such as the one I have mentioned.
There is a thread in forexfactory that is posting what he calls price magnets. Said he found them on 1 minute charts and seems to be very acurate as most all of them get hit within 24 hours.
Hello, radicalmoses:
A DogPile.com search of the term took me to a FibMarkets.com 2003 weblog. Quote from that page: "SK = SuperKluster! It is an area of stronger support." I suspect someone at FibMarkets coined the term.
I am not sure if all the other stuff on the page is related to 'SK' but the following question and answer found there is noteworthy:
"Do older Fib Levels carry more 'weight' as Support/Resist then current ones...are they stronger then those based on todays prices action or yesterdays?"
"... yes they can be stronger, if they come from a higher time-frame. For example, weekly levels are much stronger than 5-minute levels.. So the further back they originate from, the better in general."
Linear Mode
