Weekly Pivots

[tappps]

Hey guys!

Hope you are keeping well! I trade with 15 minute chart and I like to use Weekly Pivots Indicator. I noticed that the HLC Calculation Mode has a few options to select from. My question is, what is the ideal mode to select for 15 min candles using weekly pivots? A) Use Daily Bars or B) Calculate from intraday data..

Thanks for your time.

Josh

[NinjaTrader_Emily]

Hello Josh,


Thank you for your post.


When calculating the HLC for the Pivots indicator, the option to use daily bars will calculate the values based on the daily data supplied by your data provider. The calculate from intraday data option will calculate the values based on the intraday data plotted on the chart. These two values could vary slightly, especially depending on if the chart is using a different Trading Hours template for the intraday data or is plotting data outside of the regular session hours that your data provider uses to calculate daily data. (i.e. Default 24 x 7 for 24 hours a day vs. the ETH or RTH session only). The ideal mode to use will depend on which data you want the HLC values to be based on.


Please let us know if we may be of further assistance.