Pivot Points and Floor Pivots

[bertg]

Ok, I'm sorry about posting about this again.

I subscribe to opentick's live CME data. I have played with the "Session Begins" and "Ends" in the chart properties. I can't get the TRO pivots to match mypivots.

For example, today for the ESZ7, the PP matches at 1549.17, the S1 also matches, but all the rest are off. What confuses me is how a the PP and S1 match, but the rest don't (through S4 and R4). It'd make sense if none matched...

from mypivots:
The formula used in the calculation of Classic Pivot Points are:

R4 = R3 + RANGE (same as: PP + RANGE * 3)
R3 = R2 + RANGE (same as: PP + RANGE * 2)
R2 = PP + RANGE
R1 = (2 * PP) - LOW
PP = (HIGH + LOW + CLOSE) / 3
S1 = (2 * PP) - HIGH
S2 = PP - RANGE
S3 = S2 - RANGE (same as: PP - RANGE * 2)
S4 = S3 - RANGE (same as: PP - RANGE * 3)

from TRO's indicator:
pp = (currentHigh + currentLow + currentClose) / 3;
s1 = 2 * pp - currentHigh;
r1 = 2 * pp - currentLow;
s2 = pp - (currentHigh - currentLow);
r2 = pp + (currentHigh - currentLow);
s3 = pp - 2*(currentHigh - currentLow);
r3 = pp + 2*(currentHigh - currentLow);
s4 = pp - 3*(currentHigh - currentLow);
r4 = pp + 3*(currentHigh - currentLow);
s5 = pp - 4*(currentHigh - currentLow);
r5 = pp + 4*(currentHigh - currentLow);

What gives??

Thank you,
Bert

[NinjaTrader_JoshP]

bertg. Please ensure you are passing in the same HLC values to the mypivot calculator. You need to pass in the previous session's HLC for the current day's pivots. Please see my attached picture. It is accurate.

Also, the official pivots indicator is the one that comes with NinjaTrader out of the box. It is called "Pivots".

[bertg]

bertg. Please ensure you are passing in the same HLC values to the mypivot calculator. You need to pass in the previous session's HLC for the current day's pivots. Please see my attached picture. It is accurate.

Also, the official pivots indicator is the one that comes with NinjaTrader out of the box. It is called "Pivots".

Josh,

Yes, I know your indicator works perfect. Thank you for it.

I wanted to get TRO's indicator to work, as there is no need for manual input. I am still puzzled as to how PP and S1 are correct, but the rest aren't.

Regards,
Bert

[NinjaTrader_JoshP]

Sorry I'm not sure I follow. The TRO BattleLines indicator uses the exact same algorithm as my PivotPoints indicator and as such they both produce the exact same results. Those two indicators do not require any manual input. The only version that requires manual inputs is the Floor Pivots indicator.

[dgregor5]

Hi - I am no expert on the pivot points, so a quick question. with Pivot Points set to daily, I am assuming that yesterday's data are used to calculate the pivot points, Resistance & Support? If so, is it possible to modify this to make it intra-day (i.e. for the current day).

thx
David

[NinjaTrader_JoshP]

It is possible, but I've never seen pivots calculated that way anywhere before. You can go through my code and just change up the logic a bit to reflect the current day's HLC

[zelli]

Here is a forex web site that uses intra day pivots. It's all the same thing really, just based on your time period....monthly, weekly,daily,4hour,1hour...etc.

http://www.actionforex.com/forex_analysis_and_forecasts/pivot_points/gbpusd_200603215756/

[dgregor5]

Hi. I am a little confused on Pivot Points. Hope you can help.
I am assuming that with the YM the open time is 8:15pm EST & the close time is 5:00pm EST.
Is this correct?
I am in the UK, so my open time is 1:15am GMT & close time is 10:00pm.
Again is this correct?
I am assuming that I also have to change the chart settings (via properties) to incorporate these open & close times.

Sorry if this all sounds a little dumb.

thx
David

[KBJ]

That doesn't sound right.

Although you can trade the dow emini 23.5 hours per day (excluding 16:15 to 16:45) the principal trading hours are from 09:30 to 16:15 Eastern time.

To convert to UK time, add 5 hours (you did this correctly, you just started with the wrong times.)

[bertg]

what time period is used for pivots?

That doesn't sound right.

Although you can trade the dow emini 23.5 hours per day (excluding 16:15 to 16:45) the principal trading hours are from 09:30 to 16:15 Eastern time.

To convert to UK time, add 5 hours (you did this correctly, you just started with the wrong times.)

Hello,

I feel like I am beating a dead horse here, but what is the widely used time period for getting pivots? For example, what time period does mypivots.com use? Is it 9:30ET to 16:15ET? Or is it 0:00ET to 23:59ET? Or other?

What time period do you guys use?

Thanks,
Bert

[NinjaTrader_JoshP]

No idea what mypivots.com uses, but I personally just use 9:30 to 16:15.

[ashish]

Josh,
Are you saying 'personally' or the 'out of the box' pivots indicator use 9:30 to 4:15? It seems to me the Ninja indicator is dependent on 'session' times set in the chart's properties. BTW, 12am to 12am is the closest to mypivots.com's.

It seems to me that mypivots.com uses OHLC from 12am to 12am....the problem/question is, sometimes, they have different data.

For instance for today,day end 20 Nov) they have an open of 1438.50 and my chart has 1438.25;High of 1456.50 vs 1456.50;Low of 1422.00 vs 1422.00.

For day ending 19 Nov: Open of 1460.25 (which is the prev close from only 11:15pm for som reason?) vs 1461.25;high 1465.75 vs 1462.75(mine) (3:44-3:45am);Low of 1433.25 vs 1433.25.

I don't understand the 'high' discrepancy at all, but if you look at the archives, the open is NOT the previous close. So that doesn't explain the open of 'day ending 19 Nov....It is certainly a bit frustrating. What's one to do!!!???

Ashish

[NinjaTrader_JoshP]

"Personally" as in the indicators I put out. You are correct in your assumption of the default indicators being based on your chart's session begin and end times. I do not know what mypivots.com uses, but yes, differences in data will cause differences in pivot calculations. There isn't much one can do if the data is different. You could just use the Floor Pivots and input in the numbers being used by mypivots I guess.

[dgregor5]

Another question on pivot points.

I use specific timeframes for pivots (YM futures). When operating from 5 min, 10 min or one hour bars (in fact any time frame) I get the same pivot points for each time frame (& the values are what I expect). However, when using tick charts (e.g. 34 ticks per bar) I get different values for the pivots - not hugely different, but different.

Any ideas on why this would be the case along with recommended corrective actions.

thx
DG

[NinjaTrader_JoshP]

Check the OHLC data points on the various time frames and then compare it to the OHLC of the tick chart. The only reason the calculated pivots will be different is if the data is different.

To compensate you will need to either find the session begin/end times that will make the data the same or you can just simply use the Floor Pivots version and input in the HLC values.