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Note this indicator is still in beta testing. Please test it for me and let me know of any problems. Thanks.
Overview This indicator calculates pivots using the daily chart - so no matter what session times you are using on your intraday chart, the pivots will be calculated the same. I've often found my pivots to be inaccurate when switching from regular session hour charts to 24hour charts. This indicator solves that problem. I also find that the pivots calculated using the overnight highs and lows to be more accurate than ones calculated using regular session hours. This indicator uses the daily chart which includes the overnight highs and lows. Features
You need to have two symbols on your chart for this indicator to work. Datastream 1 must be a minute chart and datastream 2 must be a daily chart. So make sure you have both of those on your chart before installing the indicator. You can hide the daily chart in trade station by going to Format Symbol...Scaling Tab, set Sub-Graph to hidden. The way I set my pivots up are as follows:
This is best illustrated with a screenshot of a 15min YM chart: ![]() Inputs PlotDailyPivots: Plots the daily pivot lines (true or false) PlotWeeklyPivots: Plots the weekly pivot lines (true or false) PlotMonthlyPivots: Plots the monthly pivot lines (true or false) PlotDailyMidPts: Plots midpoints for the daily pivots (true or false) PlotWeeklyMidpts: same for weekly (true or false) PlotMonthlyMidpts: same for monthly (true or false) ShowDailyLabels: Prints a label at the start of each day on the line (true or false) ShowWeeklyLabels: same for weekly (true or false) ShowMonthlyLabels: same for monthly (true or false) ShowHighLowCloseLabels: same for the high, low and close lines (true or false) PivotStyle: "classic", "woodie" or "camarilla" PlotPD24H: Plot the Previous day's 24 hour high (true or false) PlotPD24L: same for the low (true or false) PlotPDC: plot the previous day's settlement price. NOTE this can be different to the closing price. For example the YM is settled at 5pm EST not 4:15pm EST (true or false) PlotPDH: Plot the previous day's high based on your current session (true or false) PlotPDL: same for low (true or false) PlotR4S4: Plots R4 and S4 lines with midpoints if selected (true or false) |
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By
Soultrader
on
03-29-2007, 09:52 PM
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Re: Globex Pivots
Looks amazing keymoo. A very nice upgrade to the current pivot indicator on the boards. I will wait to install until some of the bugs clear up. Great job!
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By
cooter
on
04-02-2007, 01:58 PM
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Re: Globex Pivots
Question: Can you choose to use the regular daily chart (such as @ES.D) if that's what you desire? |
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By
keymoo
on
04-07-2007, 08:22 AM
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Re: Globex Pivots
Sure cooter, for data series two add the symbol @ES.D instead of @ES. However bear in mind that the pivots will get calculated from the high/low/close of the daily @ES.D chart not the @ES chart. These values do differ quite a lot so would change the pivots a fair bit.
You could of course modify the indicator to use whatever close value you like, I find the close of the normal @ES daily chart to be fine. |
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Last edited by keymoo; 04-07-2007 at 09:03 AM.
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By
johntrader
on
05-29-2007, 01:57 PM
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Re: Globex Pivots
Great program Keymoo thanks. Any idea what might be throwing off the weekly pivot calcs? Daily numbers are fine but weeklies are wrong. I have 90days of data loaded in the Data 2 stream.
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LinkBacks (?)
LinkBack to this Thread: http://www.traderslaboratory.com/forums/f46/globex-pivots-1537.html
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| Posted By | For | Type | Date | |
| Comments for Economic News Trading Journal | This thread | Refback | 07-13-2007 06:49 PM | |
| UK Industrial Production « Economic News Trading Journal | This thread | Refback | 06-08-2007 05:40 AM | |
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