How is that possible, any suggestion?
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monthly pivot points are different on different time frame chart
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monthly pivot points are different on different time frame chart
I have monthly pivot points indicator on my daily chart. However, when I go to minute chart, the monthly pivot points are different to those on daily chart.
How is that possible, any suggestion?Tags: None
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I think it is because the "day" on your daily bars is set by the data provider and the "day" on your minute charts is set by your session times. These to "day" definitions likely don't have the same time cutoffs. Pivots are exact anyway, so don't worry about it. Every signal data feed will produce different pivots because they all have slightly different data. Pivots should be used as very rough guidelines....if you use them at all.
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Using Nyse stock MO as example, I found out that on the daily chart, the monthly pivot points change at the second trading day of each month. And monthly pivot points of the first trading day are as same as those of last month. It seems when computing monthly pivot points, the open, high, low, close prices of the first trading day of this month are treated as those prices of the "last day" of last month, which means at least the close price for computing monthly pivot points is wrong.
I don't know if you guys have observed this and any suggestion of correction?
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Originally posted by mountainclimber View Post
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Originally posted by NinjaTrader_Kyle View PostHi randomwalker,
1.) Which version are you running specifically - for example, the current version is 6.5.1000.15. Which version are you using?
2.) Which data provider are you using with NinjaTrader?
I am using 6.5.1000.15. Data provider is Esignal.
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Originally posted by NinjaTrader_Kyle View PostHi randomwalker,
Can you provide me with an image of your chart?
Also, can you clarify this for me - you are using the Pivots indicator that is included with NinjaTrader or a custom indicator named 'MonthlyPivots'?
The attchments are the chart of MO at 2010 03 31, 04 01, and 04 05. From data box, you can see that the 03 31 and 04 01 have same pivots values, while 04 05 pivots values are different than those at 04 01.
And I tried to compute April's pivots using high and low of March,but close of 04 01(not the close of March) and I found out that the results are as same as those in 04 05 data box.
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Hello randomwalker,
Unfortunately this is a bug in version 6.5; it has been fixed as per NinjaTrader 7. Please see the forum thread at the link below that reports the same issue.
You can download and install NinjaTrader 7 beta at the following link.
JasonNinjaTrader Customer Service
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