Topic: Pivot Point +- 30pips entry

Dear Mr. Popov,

I want to use your forex strategy builder but I don't know how to test my strategy. I calculate today pivot points. And then I put 30 pips above to buy and 30 pips below to sell execute when price is touch that level first time. Is it possible to test this strategy at your platform?

Best regards,

Yes, it is.
There are two options:

     1. You can use for entry the Pivot Point Support/Resistance 1 level. It is not exactly 30 pips (the average value is 55 pips for 1day EURUSD) but it takes in account the market volatility.

     2. If you want a Pivot Point +- price shift in pips you can use the ?Steady Bands? indicator. It is possible because the pivot point formula is: PP = (high + low + close) / 3 and this is the formula of so called ?Typical? price. Since the ?Steady Bands? indicator is a Moving Average +- certain number of pips you can use it. Steady Bands based on the Typical price with a period of 1 is exactly equal to the Pivot Point.

These rules allow entry at both levels. To enter at the first reached level only you have to use the ?Enter Once? rule. When the price reaches the first entry level the "Enter Once" logic will cancel the other entry order.

Example 1:

[Opening point of the position]
Pivot Points
     Enter long at R1 (short at S1)
     Base price  -  Previous bar range
     Use previous bar value  -  Yes

[Opening logic condition]
Enter Once
     Enter no more than once a day


Example 2:

[Opening point of the position]
Steady Bands
     Enter long at the Up Band
     Smoothing method  -  Simple
     Base price  -  Typical
     MA period  -  1
     Margin in pips  -  30
     Use previous bar value  -  Yes

[Opening logic condition]
Enter Once
     Enter no more than once a day