What indicators would you like to setup a trade for?

Candlestick Daily volume index Bar reversal Edit

Trade setup

Position Order Entry Exit Stop Loss Risk Return Expectancy
Long 10 4.5 20% 25% 1.6% -0.8% -3.4%
Short 5 4.2 40% 67% 1.9% -3.2% -5.9%

What indicators would you like to backtest?

Candlestick Daily volume index Bar reversal Edit

Backtest results

Position Trades Duration Win rate Win/loss Avg win Avg loss Return
Long 10 4.5 20% 25% 1.6% -0.8% -3.4%
Short 5 4.2 40% 67% 1.9% -3.2% -5.9%

Company

Indicator

Code Company Date Close Change Indicator Value Signal

Trading Performance

Woodie Pivot Point

Score

-1.45

Position Trades Duration Win Rate Win/Loss Avg Win Avg Loss Return
LONG 93 5.0 0.37% 0.49% 2.9% -3.2% -118.4%
SHORT 93 4.8 0.38% 0.51% 4.7% -2.6% -16.5%

Summary

Technical Analysis

Thorn (TGA.AX)


Indicator:

WOODIE PIVOT POINT


Signal Strength: MEDIUM
Recommendation:

Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading position.


Thorn (ASX:TGA) current pivot point (Woodie) is:
$0.239.

The current resistance levels are:
(R1) $0.243
(R2) $0.254

The current support levels are:
(S1) $0.228
(S2) $0.224



One of the key differences in calculating Woodies Pivot Point to other pivot points is that the current sessions open price is used in the PP formula with the previous sessions high and low.

Calculation: Woodie Pivot Point:
1) R2 = PP + High – Low;
2) R1 = (2 X PP) – Low;
3) PP = (H + L + 2C) / 4;
4) S1 = (2 X PP) – High;
5) S2 = PP – High + Low – Closing Price – High – Low;


PROFILE: Thorn (TGA.AX)


Stock Exchange: ASX
Company: Thorn
Ticker Codes: | TGA.AX | ASX:TGA |

About Thorn (ASX:TGA):

Thorn Group Limited, together with its subsidiaries, provides a range of financial solutions to consumers and businesses in Australia. It is involved in the leasing of household products to consumers; and provision of leasing and other financial services to small and medium size enterprises under the Radio Rentals name. The company also engages in the provision of loans, commercial finance, and receivables management services. Thorn Group Limited was founded in 1937 and is based in Chullora, Australia.

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Woodie Pivot Point

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