What is the IDEAL setting for HLC Calculation mode for intraday charts in Ninjatrader

[kashyapjdave]

What is the IDEAL setting for HLC Calculation mode for intraday charts ( 1 min , 3 min , 3 min , 15 min , 30 min , 60 min , etc ) in Ninjatrader 8 ?

Should I select -- HLC Calculation mode as :
USE --- Daily Bars or Calculated from Intraday Data ?


What is the standard practice used by Ninjatrader Users ?
HLC Calculation mode as :
USE --- Daily Bars or Calculated from Intraday Data ?


Other technical platform do not have these custom HLC calculation mode setting for USER...these platforms follow standard practice for PIVOTS.
As a User we have to just select the chart as intraday and timeframe or Daily / Monthly.. and apply PIVOTS and these technicals platform software plots the PIVOT.

[NinjaTrader_PaulH]

Hello kashyapjdave,

Thanks for your post.

While we could not advise the "ideal" settings for any indicator we can certainly provide further information about these selections to help your understanding of the options available.

Daily bars in NinjaTrader have a fixed (trading hours) session template, this means your daily bars will be consistent. Depending on the instrument and on the data feed provider, the daily bars may or may not be adjusted for "settlement" price (The bars close value is changed to the settlement price once the exchange has communicated that information). The settlement price then would be included in the pivots calculations.

Calculate from intraday data means exactly that, the pivots are calculated based on the Open, High, Low and Close of the applied (trading hours) session template of bars that are not daily bars. You can, in this case, for example, set the (trading hours) session template to an RTH type instead of an ETH or any session that you prefer. In this calculate mode, the daily settlement price would not be used/considered.