Pivot Point Calculation Methods

Has anyone researched calculating pivot points using only RTH's high/low/close versus including the overnight highs and lows? I ask because I kept hearing "ES pivot point of 946" today while the PP in the Daily Notes section of this site was closer to 943. Plugging in only RTH high/low/close into the pivot point calcualtor produces that 946 number (946.42 to be precise).

Looking at my 5-min chart, there was a bounce at the 946 level around 7:30 AM and another around 11:15, though the shadow of that bar extended down to 943. We came close just after the open, but that may have been the 200 period MA.

It would SEEM as though the RTH calcs produce stronger results, but the other held as well. Given that we're looking for general areas of S/R and not precise prices, which method holds up better?

I use the RTH hi/lo and the settlement from the CME

Do you find more bounces or consolidation at the RTH points as compared to those using overnight data? Have you ever plotted both?

I'm going to put both on the chart for a week or more to see what happens, assuming of course the high and/or low occurs in the overnight session and not during RTH, in which case it's a moot point. I figured I'd ask first as I'm sure this has come up before.

sometimes not all the time the market will stop at the mid point of the RTH and 24hr. PP. I check both to confirm other support/resistance areas, but I haven't compared the bounce of each..
sorry

good question culsu...I have just recently been considering this myself. My preliminary conclusion is its sort of like simple vs exponential MA's...they both work. This is just my casual observation with no real objective research.

I've tried the RTH pivots, & Ive tried the 24 hr pivots posted on this site. In my experience some days the pivots will b the same, some days they're far apart. BUT on the days that RTH & 24 hr data produce different numbers, the market respects the 24 hr pivots much more than the RTH pivots, I also use mid points between the PP S1 R1 & so on, with the current volatility mid points on the 24 hr pivots are respected just as much as any pivot supp or resis......thats what works for me.

Thanks, ST. I've never looked at midpoints, but see that this site's PP calculator generates them. I'll have to put together a more "formal" study over the course of a few weeks to include both Globex and RTH session high/lows and their midpoints. Should make for an interesting chart. What's that old saying? When every price is a pivot point, none are?