floor trader pivots

[Folls]

Hi,

I'd like to install floor trader pivots on some charts. Is there a recommended indicator for this?

Thanks,

Folls

[NinjaTrader_ChristopherJ]

Hello Folls,

Thank you for your post.

The Floor Pivots indicator can be downloaded from the Indicators section of our Support Forum. From the main page of the forum you will scroll down to Indicators and it will be on page 5 of the indicators page.


To import the downloaded indicator into NinjaTrader please use the steps I have provided below.

• Just double click on the NinjaScript Archive file (.zip) and it will automatically start the import process

or

• From the Control Center window select the menu File > Utilities > Import NinjaScript to open the Import NinjaScript dialog window
  Select the file you want to import
  Press the "Open" button

Please let me know if I may be of further assistance.

[Folls]

Thanks. I did that and there is no Floor Pivots indicator. I restarted Ninja. There is still no Floor Pivots indicator. Is that what I'm looking for?

[NinjaTrader_ChristopherJ]

Within your Inidicator list the Floor Pivots will be listed as Pivot Points (Floor).

If this is not available within your list please confirm you received the message "NinjaTrader successfully imported all indicators/strategies contained in the NinjaScript Archive File."

Please let me know if I may be of further assistance.

[kumar]

Floor pivots

I got the floor pivots to work alright, but they don't seem to work with Range Bar charts, these work fine on minute charts. Is this how this package is supposed to work?

Thanks.

[NinjaTrader_Ben]

Hello,

I am sorry we don't provider support for indicators that are custom made, which this one is.

[T2020]

I got the floor pivots to work alright, but they don't seem to work with Range Bar charts, these work fine on minute charts. Is this how this package is supposed to work?

Thanks.

Are you using version 8 of this Pivot indicator ?

http://www.ninjatrader-support2.com/vb/local_links.php?catid=1&sort=N&pp=15&page=10

In the indicator section ( pivots,prior , and current DayOHLC for Sessions )
is the title . Should work on Range charts .

[kumar]

Thanks T2020.

I was talking about another set of pivots named "Floor Pivots"; however I subsequently tried the pivots mentioned by you, and they do work with the range charts.

Thanks again.

[mea109]

hello everybody
i'm search a carter pivot

[Harry]

If you refer to the book by John F. Carter, he just uses floor pivots.

[mea109]

If you refer to the book by John F. Carter, he just uses floor pivots.

hello Harry
for me the carter pivot it's that

Résistance 3 = R3 = P + (H - L)x2
Résistance 2 = R2 = P + (H - L) = P + (R1 - S1)
Résistance 1 = R1 = (P x 2) - L
Point Pivot = P = (H + L + C) / 3
Support 1 = S1 = (P x 2) - H
Support 2 = S2 = P - (H - L) = P - (R1 - S1)
Support 3 = S3 = P - (H - L)x2

[eDanny]

Those are standard pivot formula but this P + (R1 - S1) and this P - (R1 - S1) don't make much sense.

[Harry]

There are two different formulae for floor pivots R3 and S3

Hi mea109,

The formula you wrote down describes standard floor pivots for R2, R1, PP, S1 and S2 as used by floor traders, before electronic trading was introduced.

For R3 and S3 there are 2 alternative formulas being used:

Narrow pivots formula: Adding daily range to R1 or subtracting daily range from S1

R3 = R1 + (H-L) = H + 2*(P-L)
S3 = S1 - (H-L) = L - 2*(H-P)

Wide pivots formula: Adding daily range to R2 or subtracting daily range from S2

R3 = R2 + (H-L) = P + 2*(H-L)
S3 = S2 - (H-L) = P - 2*(H-L)

Let us have a look, where these formulae are being cited:

Narrow pivots:

- J. Welles Wilder: New Concepts in Technical Trading Systems
- J.F. Carter : Mastering The Trade
- https://www.sierrachart.com/support...hp/t-21832.html
- http://www.earnforex.com/pivot_points_calculator.php
- http://ezinearticles.com/?Forex:-Pi...Rules&id=446207
- http://tradingsharesonline.com/articles.php?article=199
- http://systems4trading.com/system,2...day-system.html
- http://www.floorpivottrading.com/fl...vot-trading.htm
- http://www.esignalcentral.com/excha...y_spotlight.asp
- http://tradingthingys.com/PitPivotPoints.pdf
- also used for Woodie's Pivots just with a different formula for the main pivot

Wide pivots:

- http://www.traderslaboratory.com/fo...ormulas-35.html
- http://www.investopedia.com/article...intstrategy.asp
- http://www.ninjatrader-support2.com...read.php?t=4676
- http://www.mypivots.com/page.aspx?p...tcalculatorhelp
- http://www.tralvex.com/pub/forex/pivots/index.htm

My choice is as follows:

Wide pivots leave a large gap between the levels R2 and R3. This gap is the complete daily range. This means that you will not find any further resistance level within a range that equals the daily range of the prior day. Narrow pivots are therefore much more practical. They will also plot levels at R4 = H + 3*(P-L) and S4 = L - 3*(H-P). J.F. Carter also uses narrow pivots (see his books pp. 134,135).

The SessionPivots indicator (link below) also uses narrow pivots (in line with eSignal).

http://www.ninjatrader-support2.com/vb/local_links.php?action=jump&catid=1&id=136

The pivots that come with NinjaTrader are wide pivots.

Why not try both and watch out, how they are being ignored by the markets? You also have the choice between day session pivots and 24-hour-session pivots, as both are used by traders. Do not forget the midline and the VWAP of the prior day. These will act as pivots as well!

hello Harry
for me the carter pivot it's that

Résistance 3 = R3 = P + (H - L)x2
Résistance 2 = R2 = P + (H - L) = P + (R1 - S1)
Résistance 1 = R1 = (P x 2) - L
Point Pivot = P = (H + L + C) / 3
Support 1 = S1 = (P x 2) - H
Support 2 = S2 = P - (H - L) = P - (R1 - S1)
Support 3 = S3 = P - (H - L)x2

[eDanny]

Wow, I'm a noob on Pivots and Harry, you are the Pivot master. Nice post.

[mea109]

Hi mea109,

The formula you wrote down describes standard floor pivots for R2, R1, PP, S1 and S2 as used by floor traders, before electronic trading was introduced.

For R3 and S3 there are 2 alternative formulas being used:

Narrow pivots formula: Adding daily range to R1 or subtracting daily range from S1

R3 = R1 + (H-L) = H + 2*(P-L)
S3 = S1 - (H-L) = L - 2*(H-P)

Wide pivots formula: Adding daily range to R2 or subtracting daily range from S2

R3 = R2 + (H-L) = P + 2*(H-L)
S3 = S2 - (H-L) = P - 2*(H-L)

Let us have a look, where these formulae are being cited:

Narrow pivots:

- J. Welles Wilder: New Concepts in Technical Trading Systems
- J.F. Carter : Mastering The Trade
- https://www.sierrachart.com/support...hp/t-21832.html
- http://www.earnforex.com/pivot_points_calculator.php
- http://ezinearticles.com/?Forex:-Pi...Rules&id=446207
- http://tradingsharesonline.com/articles.php?article=199
- http://systems4trading.com/system,2...day-system.html
- http://www.floorpivottrading.com/fl...vot-trading.htm
- http://www.esignalcentral.com/excha...y_spotlight.asp
- http://tradingthingys.com/PitPivotPoints.pdf
- also used for Woodie's Pivots just with a different formula for the main pivot

Wide pivots:

- http://www.traderslaboratory.com/fo...ormulas-35.html
- http://www.investopedia.com/article...intstrategy.asp
- http://www.ninjatrader-support2.com...read.php?t=4676
- http://www.mypivots.com/page.aspx?p...tcalculatorhelp
- http://www.tralvex.com/pub/forex/pivots/index.htm

My choice is as follows:

Wide pivots leave a large gap between the levels R2 and R3. This gap is the complete daily range. This means that you will not find any further resistance level within a range that equals the daily range of the prior day. Narrow pivots are therefore much more practical. They will also plot levels at R4 = H + 3*(P-L) and S4 = L - 3*(H-P). J.F. Carter also uses narrow pivots (see his books pp. 134,135).

The SessionPivots indicator (link below) also uses narrow pivots (in line with eSignal).

http://www.ninjatrader-support2.com/vb/local_links.php?action=jump&catid=1&id=136

The pivots that come with NinjaTrader are wide pivots.

Why not try both and watch out, how they are being ignored by the markets? You also have the choice between day session pivots and 24-hour-session pivots, as both are used by traders. Do not forget the midline and the VWAP of the prior day. These will act as pivots as well!

sorry for my late reponse
merci ,merci beaucoup