[Manfred]

Hi,

I've been developing my own pivots indicator for sofware I use which doesnt have the feature built-in and was wondering about the preferred approach used to calculate weekly pivots.

Is the week defined literally, i.e. between Monday and the immediate next
Friday or is it regarded as a 5 trading day lookback from a known most
recent Friday.

My question relates to how should I handle non-trading days in the week
(e.g. public holidays) - say a week has 1 non-trading day, so now is the
pivot calc based on 4 days or does it stick with a 5 day lookback (i.e.
assume every 5 daily bars make up a week). If there are 2 holidays in one
week is the pivot then based on 3 days and so on?

Once I've gotten that right, I'd tackle intraday, so just quickly on that one would I assume for most commodities 24 hourly bars = 1 day and base my next day pivot on that? e.g. what is the procedure in calculation if a commodity market is closed for part of those 24 hours, is it the last 24 hours = 1 day or do I just use the last 24 bars (assuming of course one's data has no gap errors and its real market data)

Thanks for any explanation.

Cheers