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Partner 728x90
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Pivot
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Pivot
When using the Pivot indicator I have the option to calculate the HLC from Intraday Data and from Daily Bars. They have a 2-4 tick offset from each other, so even if it's not a big difference, which one is more accurate in calculating the levels? I am using Tick charts!Tags: None
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Hello otislauwaert,
Thanks for your post.
Pivots using intraday data will use that data and the Trading Hours template to determine pivot levels based on Last price. Daily bars requested from your data provided can be adjusted with the settlement price for the close rather than using the Last price, and these daily bars may be developed with RTH or ETH trading hours. As the Daily Bar's Close would be different and the session may be different than what is configured for the Trading Hours template, the resulting pivots would be different.
You may or may not want to have the daily settlement included with the calculation, or you may want to have the pivots calculated with your own Trading Hours template with intraday data rather than using your data provider's RTH/ETH style daily bars. The answer of accuracy would come down to what you would like the pivots to tell you.
Please let us know if we can be of further assistance.
JimNinjaTrader Customer Service
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