Favorite Futures: Index,Currency and Energy futures
Posts: 1,701 since Jan 2010
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The indicator does not work on currency futures like 6A, 6B, 6E, using Minute charts. On Range charts it works. Why did you hard code the start and end time. Currency work 24 hours. The caluclations should be from DAY to DAY i.e. 00:00 to 23:59. a full calander DAY. I also find that the 50% line is not the same number that I calculate by hand.
no hard code for start/end time it is just left over codes from another indicator. It works for some contracts but not others must be data format something. That is why it put triangles at H/L to see if it marks them correctly.
a suggestion how to obtain the balance points for the last week. Basically you would want to scan the price action for swings and then determine the midrange of the dominating swings. This is nothing else than finding the 50% Fibonacci retracement levels for those swings. To display the balance point you could take the Fib Cluster Indicator (published in the download section of this forum) and exclude the larger swings that date back several weeks. Just set the levels A to E to false, and you will obtain something as shown below. You can all set all other lines to transparent that you do not want to display.
For YM there were two balance points, 1 relating to a 2 day period, the other one to a 4 day-period. You can see them on the chart below.
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