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# What pivot calculation?

Topic for "What pivot calculation?" question.
DayTrading: I use OHLC to figure the pivoits. On the spy 5/13/08 my r2 was 141.50
Another trader had his r1 @ 141.60. He was much closer than I. What caculation would
he be using?
Ben
DayTrading: The above were pivoits for the day following 5/13/08
redsixspeed: What were the OHLC values for the SPY on 5/13/08?
RedSix, maybe he's using either the SPY settlement, if it's different than the "close", which I wouldn't know, OR, he's using a pivot calculator that only has the HLC inputs.

I've found that using the CBOT's Settlement price in calculating pivots is more accurate than using the day's closing price on the last bar.
The reason, as explained to me by my teacher, is that more contracts
settle at the actual Settlement price as determined by the exchange.
Thanks piperian I will look at that as well.
DayTrading O 140.83 H 140.89 L 139.73 C 140.48 (SPY) 5/13/08
Thanks
Ben
redsixspeed: I played around with all the formula the I know (I plugged the values in here: Pivot Point Calculator) and could not find how the other trader came up with 141.6 as R1. It may have just been a one off lucky number that he had unless of course he's consistent at it. Did he give you the level before the market turned there?
Yes; we get the levels bfore the market opens. not only do we get his levels we have interactive charts he showes us.
we can send email he will put up the chart we ask about and hear him explain.
not sure his levels are as good as mypivots. today 5/14/08 his levels for ES
were r2 1426 r1 1417 pp 1412 s1 1403 s2 1398
sorry the above is for 5/15/08
Are his levels from a secret formula that he sells as a service? Or does he provide the formula for them?

To see if they're any good you could ask him for all the levels for the last (say) year for a particular symbol and then using Excel you can compare the number of "hits" within a certain percent for the highs and lows of the day (these are the incontestable turning points) and then compare them to (1) randomly generated pivots and (2) other pivot formula.
DayTrading: He works through the trading platform of my broker I do not pay a fee to him.
I must have an account with my broker to receive this service.