Pivot Points and Floor Pivots

[Harry]

Yes 6E EUR.USD it's work well. But concerning $EURUSD (forex) no line displays

Thank all for your help

http://img840.imageshack.us/f/pivoteurusd.png/

Your chart shows a gap of a few hours prior to midnight, so there is some data missing. Try to reload your chart data. There might also be a problem with daily data.

Do you use the correct session template?

See chart with pivots for EURUSD below.

[Zeos6]

Great indicator. Thank you.
Any chance this could be modified to display pivots on weekly charts and also on tick and vol charts?

[Harry]

Great indicator. Thank you.
Any chance this could be modified to display pivots on weekly charts and also on tick and vol charts?

The SessionPivotsV42 indicators come with daily, weekly and monthly pivots. The indicators work on all types of intraday charts including tick and volume charts. The weekly and monthly pivot indicators also work on daily charts. None of the indicators works on weekly charts.

http://www.ninjatrader.com/support/forum/local_links.php?action=sendtofriend&catid=4&linkid=343

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[Zeos6]

Hi Harry,

Thank you for the response. I am aware of this limitation. For the world I cannot understand why this would not have been coded (well I actually understand the complication involved). I will probably code my own at some point. Thanks anyway.

[Harry]

-> You cannot display daily pivots on a weekly chart, because you would need to display 5 different sets of pivots per bar.
-> To display weekly pivots on a weekly chart, you would get one line per bar.
-> You cannot display monthly pivots on a weekly chart, because the start times of week and month do not align.

Below attached is a chart that displays daily pivots on a daily chart, If you display weekly pivots on a weekly chart, it would look exactly like this, just madness.

[Zeos6]

Thanks Harry. I am aware of this but there is a way around the issue of monthly pivots on a weekly chart. They can be calculated. As to the start time, yes, the week start does not need match month start but we can round the start time. Thanks for the input though. I also am interested in quarterly pivots on monthly charts. As I said, I will need to code this. And yes, the starting times for the pivot lines will need to be rounded. I don't think that is much of an issue as it is the pivot level that is of importance.

[fredly]

ana Sessions Pivot Point Indicator

I have just downloaded this indicator and it looks pretty good. I only wish that the pivot levels would plot all the way across the chart instead of just on the far right. I need some clarification: what do these levles mean: Y-Close, DP, CP. I will use this indicator for sure but I need to understand everything about it.

Thanks
Fred B

[Harry]

I have just downloaded this indicator and it looks pretty good. I only wish that the pivot levels would plot all the way across the chart instead of just on the far right. I need some clarification: what do these levles mean: Y-Close, DP, CP. I will use this indicator for sure but I need to understand everything about it.

Thanks
Fred B

You may increase the width of the lines in order to make them plot across your chart. You may for example select "Max. plot length # bars" = 1000.

Y-Close stands for yesterday's close. For calculating pivots correctly you want to use the close at 3:15 PM Central Time. In order to do so, please use daily data for the close. It will typically return the settlement price or the regular close.

CP is the central pivot or the midpoint of yesterday's range. DP is the directional pivot, which is obtained by mirroring the central pivot CP around the main pivot PP. CP and DP are used to build the pivot range, which is an indication of yesterday's value. All lines of the pivot range are supposed to act as support or resistance.

The indicator allows for calculating pivots from the regular session, but you would need to use a subdivided session template that cuts the day into the night session, regular session and the evening session (time between 3:30 PM and 4:00 PM for index futures).

[fredly]

Session Pivot Levels

Harry:

Thanks for your rapid response. Your explanation helps me better understand these levels. However, you mentioned that I would need to use a subdivided session template that cuts the day into the night session, regular session and the evening session. Right now, the indicator is set to RTH, but I have no idea to do what you were suggesting; If you wouldn't mind explaining how to do that, I would appreciate it.

So in terms of how to use the CP and DP levels, are these just plotted to give a range for the probably Main Pivot level, proving a little latitude for entries and exits as price approaches or leaves these areas? I have never seen these plotted with the customary pivot levels before, but am willing to try them to see how effective they are.

Thanks for your input, I appreciate it very much.

Fred B

[Harry]

Here is a sample template ... please continue it until Friday evening. The template needs to be set in Central Time for index futures (CME).

For CP and DP please google "pivot range", or have a look at the book "The Logical Trader" which also explains it well.

[fredly]

HARRY:

I used your template as my guide, but the only problem is, there is no ETH/3 on my drop down menu. I am using the latest version of NT7, and has ETH/1 and ETH/2, but no ETH/3. So I took the liberty of choosing ETH/2, then added the times you had selected on the template, but I know that will not be entirely correct, since I can only select ETH/2, yet I added times for the 3 market time segments as you had on the template. Is there a way for me to correct this? I cannot figure out why there is no ETH/3 on my dropdown menu.

[fredly]

Problem With Session Template

Harry:

In my last email, I wrote something about the fact that ETH/3 does not exist on my drop down menu when it comes to selecting the session time zones. I selected ETH/2, and
then created the Time Zones as you listed on your template.

Since doing that, the pivot lines are plotting ok, but I am receiving an error on the charts, that says, "The prior close detected by the Daily Pivots indicator is not within the range of the selected session."

I then went back to check the session template and it had reverted back to the default 24/7, Eastern time zone. I have the chart session set to ETH/2 since that is the only setting besides ETH/1 that is available. I have enclosed a snapshot of what I created, exactly from your template.

So am I getting accurate pivot levels by using ETH/2, but having 3 sessions on the Session Template? I really don't know how to fix this and would appreciate your feedback.

Thanks
Fred B

[Harry]

HARRY:

I used your template as my guide, but the only problem is, there is no ETH/3 on my drop down menu. I am using the latest version of NT7, and has ETH/1 and ETH/2, but no ETH/3. So I took the liberty of choosing ETH/2, then added the times you had selected on the template, but I know that will not be entirely correct, since I can only select ETH/2, yet I added times for the 3 market time segments as you had on the template. Is there a way for me to correct this? I cannot figure out why there is no ETH/3 on my dropdown menu.

You need to create a new session template and then enter the session times. Whether you call it ETH/3 or Donald Duck does not really matter.

[Harry]

Harry:

In my last email, I wrote something about the fact that ETH/3 does not exist on my drop down menu when it comes to selecting the session time zones. I selected ETH/2, and
then created the Time Zones as you listed on your template.

Since doing that, the pivot lines are plotting ok, but I am receiving an error on the charts, that says, "The prior close detected by the Daily Pivots indicator is not within the range of the selected session."

The pivot indicators use daily data for catching the settlement price. The error message basically informs you that your daily data has not been updated (your daily data base does not contain recent daily data!).

When you want to use the pivot indicator with daily data, you first need to update your daily data in the historical data base. This can be done via the historical data manager or by opening a daily chart.

I know that this is cumbersome, but the architecture of NinjaTrader 7 does not allow for synchronous loading of daily data, therefore it is loaded asynchronously without triggering an automatic call for updating it.

Best you switch to NinjaTrader 8, as the problem is fixed with NinjaTrader 8, and daily data will be loaded automatically. Also we currently offer a free pivot indicator for NinjaTrader 8 which can be downloaded here: http://www.lizardindicators.com/2018...ession-pivots/

Harry:

I then went back to check the session template and it had reverted back to the default 24/7, Eastern time zone. I have the chart session set to ETH/2 since that is the only setting besides ETH/1 that is available. I have enclosed a snapshot of what I created, exactly from your template.

You should never ever use the template 24/7. It is a false template that does not conform to the contractual trading hours of any trading instrument. Please use the default session template <instrument settings>. With <instrument settings> you will be able to display full session pivots, which are satisfactory for most instruments. Then if you wish to display RTH pivots as well, use a subdivided template that isolates the regular session.

[mr_trade]

Hi, Is the enhanced pivots available for NT8 somewhere? Struggling to find mid points anywhere?

Thanks