Would like to know some of your experience with pivot points .
I’ve used it for a while and TBH price rarely respects those levels compared to manually drawn SR levels. So if you want to use SR levels in your analysis draw them manually rather than relying on some indicator.
very true i have compared both in live trading and found that trend line and MA do work as strong S/R
They don’t work if the stock is in news. So when trading pivots make sure that there are no big news about the stock or of the economy. Always these outliers break the traditional indicators. Also when FM speaks something unintelligible during market hours (which happens a lot) then also you need to watch out.
Furthermore the fibonacci pivots get the best bounce ratio compared to standard pivots and also volume adjusted pivots work well in the intraday scenarios.
Iceberg orders also break the pivots…so make sure the price is reaches the pivot in an orderly fashion.
Got to know about Iceberg orders. Thanks!
Fibonacci pivot points are best for intraday trading. Works 90 to 95 % .
I am only getting pivot in zerodha. Not getting Fibonacci pivot. Can you help
select pivot points from studies… change the type to fibonacci
When you click on Pivot point indicator , there you get 2 options, apply it as standard or Fibonacci.