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Futures Settlement for Nymex CL

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    Futures Settlement for Nymex CL

    This is probably a frequently asked question and probably there is a simply solution hidden somewhere, but not used to have to search high and low for this kind of thing.

    The Nymex official settlement at 2.30EST is an important price fix for the market. If I set the charts to show RTH (9am to 2.30pmEST), then when using the previous OHLC indicator it displays the correct settlement price. However all the electronic hours are now missing from the chart. If I change to "use instrument settings' or ETH for Nymex it now shows the electronic close which is largely irrelevant. Settlement is important - last tick of the day not really.

    SO : I need to show a nice horizontal line on the chart that plots the previous settlement price, whilst also giving me the electronic trading from 18.00 to 8.59 and 2.31 to 17.00 - outside the RTH. It seems like a small detail but it's very important and honestly I am surprised to find such a small thing causing so much issue. It's a bit like trying to figure out how to turn the headlights on in a rental car. Can such a small detail really be that complicated ?

    ONE LAST THING : Don't come with some gibberish about the data provider. I am using Rithmic and it clearly shows the previous settlement in the Rithmic price ladder and the +/- on the day is correct to the current price verses the previous settlement NOT the ETH last trade. Furthermore clearly the settlement price is available to the NT8 platform because when switching to RTH it knows the price, it just chooses not to display it when viewing ETH trades which is dumb. IB, Rithmic and many other charts adhere to the settlement price NOT the ETH last trade / close price which is irrelevant.

    Hope there is a solution - I see something mentioned for a pivot indicator for NT7, but I can't see any in NT8 (awesome platform btw.)

    #2
    Hello wizmach,

    Thank you for your post and welcome to the NinjaTrader Support Forum!

    There are two ways to do this.

    First would be to open the Cl futures contract chart with the RTH session trading hours applied, then draw a horiztonal line on the prior close (or current close if after hours). Once the line is drawn left click on it to select it and then right click and select Properties, set the 'Attach To' option to 'Instrument (All Charts)' and then select OK.
    The line will now appear on your ETH CL chart.

    The second way would be to build an indicator that draws the horizontal line automatically for the RTH session. I attached a basic example of this. You can import by downloading the file to your desktop and then going to Tools > Import > NinjaScript Add On > select the file > Open.

    Please let me know if you have any questions.
    Attached Files
    Patrick H.NinjaTrader Customer Service

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      #3
      OK thnx, have done that but can't see it in the indicators - where else might it be ?

      Comment


        #4
        OK i found it - show price at time - problem is the official NYMEX settle price is based on some algo of the last 30 seconds of trade and is then published by the exchange, i need the exact price from the exchange - this is the price that all the contracts are settled at for the day, so having roughly there is a start but it should be the exchange price, it's showing 52.37 today whereas the real number is 52.33

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          #5
          OK so it is working to the close at 2.30pm EST, which is almost but not quite the official settlement - it's almost good enough.... it's not showing a price marker in the margin although the box is ticked and also would be nice to control the color of the line. fussy i know but this is a fussy business and thousands can be involved :-)

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            #6
            Hello wizmach,

            Thank you for your response.

            The Price Marker would only appear if the Horizontal Line is changed to a Line class rather than the Drawing Object.
            You can refer to the following link for more information the Line class: http://ninjatrader.com/support/helpG...us/addline.htm

            Please let me know if you have any questions.
            Patrick H.NinjaTrader Customer Service

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              #7
              the only solution i can find to accurately display the settlement price and not just for CL on one chart but for CL on 5 charts and HO and RB on 2 more charts each - 10 charts (and i assume the same on other futures markets if i chart those also) - is to manually draw in the line at the end of the day.

              So basically you built the Porsche GT3 trading platform, but forgot to install a fuel gauge - so either i risk a forced error by lack of information or i have to keep stopping and dipping the tank manually to check.

              When I see such a basic error like this it makes me wonder what else is missing ?

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                #8
                I can understand that it's tricky to get the actual exchange settlement onto the charts - OK - that I can live with and plot myself...

                But the market analyzer is also wrong which means the +/- on the day is also wrong - so we have a Porsche with no fuel gauge and no headlights either !

                The data is coming from Rithmic, which shows the correct settlement and the correct +/- on the day, but NT8 does not.

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                  #9
                  Hello wizmach,

                  Thank you for your response.

                  So the settlement is shown on your Daily chart, correct?

                  If you open a 1440 minute chart with the RTH session applied and check the Close, is it truly the settlement price you are looking for?

                  I look forward to your response.
                  Patrick H.NinjaTrader Customer Service

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