Woodies Pivots -- Inconsistencies

[jvracing]

I have been applying Woodies Pivots to range charts of various lengths, and comparing them side by side. Sometimes they line up quite nicely. Most of the time they do not. Often they are not even close to each other.

I have been using the setting of "DailyBars" on the input of "PriorDayHLC" for all charts, so I don't see how it could be giving different results on different charts. I do understand the problem of using intraday data from different charts, particularly range charts with bars that can span sessions, and how this can produce inconsistencies. I am baffled though, as to how this could happen using DailyBars data.

Does anyone have any ideas?

[NinjaTrader_Jason]

Can you please tell me what data feed provider you are connected to. If the data feed provider does not support historical daily data, eventhough you use "PriorDayHLC", Ninjatrader will use the intraday values displayed in your chart.

[jvracing]

Good point Jason!

I am using eSignal, and I believe they do provide daily data, since my daily charts can go back much farther than my intraday ones do.

[jvracing]

Solution

Well, I finally figured out what was going on here.

eSignal does provide daily data. But, if you haven't specifically downloaded that daily data (by opening a daily chart or by some other means), then the indicator cannot access it.

I had assumed that the indicator would go and request the data to be downloaded if it is missing. That is not the case. So even though I did have a data stream with daily data, the indicator was not able to access it, because it had not been manually or otherwise actively downloaded.

I now will keep a daily chart of the symbol I am working with open in the background, even if I'm not using it for trading, so as to continually receive new daily data from which to build accurate Woodies Pivots.

I hope this may help someone else who is having the same problem.