Nifty Intraday Floor Pivots

[CreditViolet]

You can do this on a weekly basis CV instead of daily which will probably be more convenient for you. But please provide labels on your chart for easy understanding (or provide a colour coding scheme that you'll be using on your charts).

Regards,
Kalyan.

Sure Kalyan, Good idea.

Problem with weekly updates is that as market structure changes levels change dramatically so better to update when breakouts/breakdowns happen.

As for labels, its straightforward really, if price is above a confluence, levels turn blue otherwise red.Also being a mix of various pivots and fibs, not much numerical labelling as well.I like to keep it as straightforward and simple as possible for trading hours.

Rgds

 

[uasish]

That looks good Ashish,they do match few of those levels, if they are automated levels, very good work indeed.

CV ,
After many yrs ,got really elated,yes all are those self coded which falls automatically on charts.

Asish

 

[kkseal]

Sure Kalyan, Good idea.

Problem with weekly updates is that as market structure changes levels change dramatically so better to update when breakouts/breakdowns happen.

As for labels, its straightforward really, if price is above a confluence, levels turn blue otherwise red.Also being a mix of various pivots and fibs, not much numerical labelling as well.I like to keep it as straightforward and simple as possible for trading hours.

Rgds

Good CV & thanks for your effort.

I also use Fibs, but the plain, vanilla type - nothing as sophisticated as you & Asish. So what you post will hopefully also help me improve.

Regards,
Kalyan.

 

[kkseal]

Just one query to you guys

When you calculate those Fib confluence levels, do you calculate them for a single (trading) timeframe or do you use other timeframes as well? If the latter, then what other timeframes would be more appropriate - higher or lower (w.r.t. the trading tf)?

(My guess is the higher ones, like if i'm trading the daily i'd have to use the Weekly & Monthly)

Regards,
Kalyan.

 

[CreditViolet]

Just one query to you guys

When you calculate those Fib confluence levels, do you calculate them for a single (trading) timeframe or do you use other timeframes as well? If the latter, then what other timeframes would be more appropriate - higher or lower (w.r.t. the trading tf)?

(My guess is the higher ones, like if i'm trading the daily i'd have to use the Weekly & Monthly)

Regards,
Kalyan.

Indeed.The key is - Diff Timeframes and Varying Pivot Strengths.Also once you get the levels, its very imp to collapse/merge them properly.

A good starting material on confluences can be found in Miners book Dynamic Trading.

Rgds

 

[CreditViolet]

CV ,
After many yrs ,got really elated,yes all are those self coded which falls automatically on charts.

Asish

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[CreditViolet]

Attached..

 

[uasish]

CV,
As you may not trade in NSE Cash ,if you have the chart of Balarampur Chini's 7th March (EOD) ,plz say does these come near to your levels ,actually i was trading in Cash more than futures.Your observstion will work as 'Validation' for me.

Asish

http://www.traderji.com/81003-post48.html

 

[CreditViolet]

CV,
As you may not trade in NSE Cash ,if you have the chart of Balarampur Chini's 7th March (EOD) ,plz say does these come near to your levels ,actually i was trading in Cash more than futures.Your observstion will work as 'Validation' for me.

Asish

http://www.traderji.com/81003-post48.html

Hi Ashish
I dont track that counter, I track most of the frontline SFs, if you have any doubts there, lemme kno.

Also, another problem is I dont believe that EOD will be of much help, levels on intraday based on different timeframes is the key to get accurate levels.

Laters

 

[CreditViolet]

Update for you lads!

Compare the levels given in the morning to current market action.Uncanny eh

Hope it helped somebody!