Another kind of Pivots Points - the intra-day trading 'Fibonacci' Zones/Bands

[balha76202]

Hi All,
Hi Alexis whose work in the forums is very qualitative - thank you,

I would like someone of you to program the following pivot points.

This is similar to the CBOT Floor Trader Pivots Pivots.

What is different ?

The calculations of the different levels are different as we will use TODAY's range and 1/2 range to calculate the levels for TOMORROW's intra-day trading activity and will will use also some Fibonnacci numbers to calulate these zones/bands.

We will use 9 levels in total to calculate :
- the Balance Point (BP)
- 2 support zones/bands for which 4 levels are needed
- 2 resitance zones for which 4 levels are needed too.

If, in addition of the 9 levels, we could get colored support and resistance zones/bands it would be great ! With some EFS color painting functions maybe ?

You will find everything needed to calculate the levels herafter and in the Word format document attached.

Thanks to you all for your help, work and time.

Olivier Balhan - Belgium


Intra-day Trading ‘Fibonacci’ Zones/Bands

Similar to CBOT Floor Trader Pivot Poins but with different calculations for the levels that consist in :

- a Balance Point (BP) just like the Pivot Point
- 2 support zones/bands for which 4 levels are needed
- 2 resistance zones/bands for which 4 levels are needed too.

Creating the zones through 9 levels

These zones are based on the High + Low + Close of TODAY (after the close) and then projecting the zones/bands for TOMORROW’s day-trading activity.

We need to create 9 levels as follows :


E1
= Resistance Zone/Band 2
E


D1
= Resistance Zone/Band 1
D


C = Balance Point (BP)


B
= Support Zone/Band 1
B1


A
= Support Zone/Band 2
A1


Calculations – Step 1

1. Add today’s (H + L + C) / 3 = Balance Point (BP) = C level.
2. Calculate 50 % of TODAY’s range and ad dit to C level = D level.
3. Calculate 50 % of TODAY’s range and deduct it from C level = B level.
4. Addd the entire TODAY’s range to the BP (C level) = E level.
5. Deduct the entire TODAY’s range to the BP (C level) = A level.

We have created 5 price levels.

Calculations – Step 2

We will use the Fibonacci Ratios of .618 and 1.382 of the TODAY’s range.

6. Support Zone/Band 1
Calculate .618 of TODAY’s range and DEDUCT it from C level (BP) = B1 level.
The LIGHT GREEN colored area between B level and B1 level = Support Zone/Band 1.

7. Support Zone/Band 2
Calculate 1.382 of TODAY’s range and DEDUCT it from C level (BP) = A1 level.
The DARK GREEN colored area between A level and A1 level = Support Zone/Band 2.

8. Resistance Zone/Band 1
Calculate .618 of TODAY’s range and ADD it to C level (BP) = D1 level.
The ORANGE colored area between D level and D1 level = Resistance Zone/Band 1.

9. Resistance Zone/Band 2
Calculate 1.382 of TODAY’s range and ADD it to C level (BP) = E1 level.
The RED colored area between E level and E1 level = Resistance Zone/Band 2.

[ACM]

Olivier
If I understood your explanation correctly what you are describing is Robert Krausz' Fibonacci Zones study.
If that is the case then I have already programmed it and it is available here
Alex

[balha76202]

Thank you very much

Alexis,

Thank you very much for your quick reply.

As usual, quality work !

I use another trading software too - that I don't want to mention on this forum by respect - but I think you know it very well too.

I would like to ask you to program the Kraussz Intra-day High Percentrage Fibonacci Zones/Bands and the appropriate StochasticRSI on it.

Can I send you a private mail ?

Waiting for your reply,

Olivier

[ACM]

Olivier
You are most welcome
With regards to your request I am not available outside of this Bulletin Board or for custom programming. If the study is important to you I would suggest that you contact one of the EFS Consultants.
Alex