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<DIV><FONT size=2>A clarification is in order for the Keyline or center pivot in
the earlier post. There are three that are in popular use and a lessor
known fourth. One is the classical (H+L+C)/3. Another is yesterday's
close, Plot1(CloseD(1),"C"). The third is the current day's open,
Plot1(OpenD(0),"0"),. Different traders use one or all three and sometimes
they start the day with yesterday's close, then switch to the current day's open
after it is established. Others start with the close or open and then use
the dynamic pivot, (HighD(0)+LowD(0))/2. Once computers were introduced
into trading years ago, statistical and volatility based pivots were
created. You will find those used when all the traders are at play.
On quieter days you find the classical pivots dominate like the last two
days. Attached is a .gif comparing the Close, Open, Classical, and Dynamic
pivot or what some call the Keyline. Something to consider is the value for
the close if you are using a datafeed and software to do the calculations and
plotting. Is it that value at 16:00ET, or 16:15, or when the OEX finally
stabelizes and how do you get your code to reference it or do you adjust it
manually? As you can see near the close of 12/27 there are two single
point "bars" at 16:10and 16:15 each of which would affect the Close pivot or the
classical pivot for the next day. </FONT></DIV>
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<DIV><FONT size=2>Good luck trading,</FONT></DIV>
<DIV><FONT size=2>BobR</FONT></DIV>
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