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Help With CMI Pivots
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Help With CMI Pivots

  #1 (permalink)
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Help With CMI Pivots

I have CMI Pivots running in NT6.5 and have had no issues until the weekend came. I am in Australia and this morning when I loaded NT, 5 of the 12 charts I use had no daily pivots, fibs or yesterday's OHLC.

The charts showing the info are all accurate based on Action Forex pivots, so am not sure why EUR/JPY, NZD/USD, AUD/USD, USD/CHF and GBP/AUD are all blank.

Is anyone able to suggest a fix for it?

If I go to the Session Times and put my local session time in, it gives me the pivots, fibs etc but they are incorrect. The labels say Local Session Closing Time for other instruments. Please Use Local Time!

I changed the Local Open to 09:00 and the Local Close to 17:00, which is what it is here, but just out by too much.

Does anyone know the correct way to get these pivots correctly displayed?

I might add that I am using range charts, though had no issues with that all of last week, which is when I loaded this indicator for the first time.

If I select User Defined Values and input the correct HLC of the last session, everything is fine. Is it perhaps a case of having to input it manually after the weekend session and then setting it back to CalcFromIntradayData once the London and US sessions have reopened?

Any suggestions gladly accepted.

cheers

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  #2 (permalink)
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  #3 (permalink)
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Hi honkin,

let us see what is happening. First of all. which version fo the CMIPivots do you use, did you upgrade to the latest which is V86? What error message do you get exactly?

NT 6.5. has no session manager, so the indicator needs to be preconfigured for each instrument in view of the exchange time and daylight savings rules. If it is preconfigured, you can display correct ETH pivots. If it is not preconfigured, you can only use it in Local Session = True mode, which may produce inaccurate pivots.

However the indicator should work with all FOREX instruments, including the ones you mentioned. The correct setting is therefore Local Session = False. The session times for FOREX need to be set in EST (for V86, for some earlier versions it was GMT) via Session Begin FOREX and Session End Forex.

If you use the indicator in DailyBars mode, you would need to load daily data prior to making use of the indicator.

I have never tested the indicator with my systems clock set to Australian time, but it should work.

My suggestion is first

- apply CMIPivotsV86 to your chart
- reload the data to your database
- check your FOREX settings under Tools -> Options -> Misc -> Quote Currencies

If it still does not work, come back please and post a screenshot of your chart and your indicator settings. But in any case the indicator should either work for all FOREX instruments or for none. If it works for some FOREX instruments and does not for others, the problem is either related

- to missing data in your database
- to instrument settings

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  #4 (permalink)
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No reason to stick with NT 6.5

By the way, there is absolutely no reason to stick with NT 6.5.

The SessionPivots indicator for NT7 uses session templates and will produce accurate ETH and RTH pivots for any instrument. It is much better than the CMIPivots indicator.

Also NT 7 is by far more stable than NT 6.5. Did not open NT 6.5 for 4 weeks, the first time I used it, it produced a sequence of full crashes on data loading, so I will refuse to deal with NT 6.5. anymore as it is really a waste of time.

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  #5 (permalink)
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Fat Tails View Post
By the way, there is absolutely no reason to stick with NT 6.5.

cheers Fat Tails

I hate to disagree with you on this one, but I am with a company called Your Trading Room. They have many proprietary indicators that I am led to believe do not work on NT7, so that is the reason I am still with NT6.5

Since my News trading requires no indicators, I use NT7 for that, but for scalping and using strategies I have developed and been taught, the YTR indicators are a must

cheers

honkin

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  #6 (permalink)
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Fat Tails View Post
Hi honkin,

let us see what is happening. First of all. which version fo the CMIPivots do you use, did you upgrade to the latest which is V86? What error message do you get exactly?

Hi Fat Tails

I am using V86 of the indicators. Initially there was no message, just no indicators. On checking again this morning, the offending charts had the message regarding insufficient data etc. Increase look back period. That was simple enough to deal and I have now set my default to 9 days so that should fix this part of it. The charts that all had pivots yesterday, had nothing when I got up this morning, but again, when I changed the days to 9, ti was all good.



Fat Tails View Post
NT 6.5. has no session manager, so the indicator needs to be preconfigured for each instrument in view of the exchange time and daylight savings rules. If it is preconfigured, you can display correct ETH pivots. If it is not preconfigured, you can only use it in Local Session = True mode, which may produce inaccurate pivots.

However the indicator should work with all FOREX instruments, including the ones you mentioned. The correct setting is therefore Local Session = False. The session times for FOREX need to be set in EST (for V86, for some earlier versions it was GMT) via Session Begin FOREX and Session End Forex.

If you use the indicator in DailyBars mode, you would need to load daily data prior to making use of the indicator.

Fat Tails, I have not configured the times at all, but can certainly do it. I have it set to the defaults for session times. I have Intraday Session set to True, Local Session set to False and Prior Day High/Low/Close set to CalcFromIntraDayData.

So to make sure it is accurate, I need to check the Session Begin and Session End times, but only for FOREX, yeah? I currently only trade Forex, though will look at the ES and TF shortly. So the setting should be 08:00 + 17:00, is that right. Funnily enough, the current setting is Begin 17:00 (ET) and End 17:00 (ET) with Break Period being set to 00:00.

cheers and thanks for your help

honkin

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  #7 (permalink)
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honkin View Post
Hi Fat Tails

I am using V86 of the indicators. Initially there was no message, just no indicators. On checking again this morning, the offending charts had the message regarding insufficient data etc. Increase look back period. That was simple enough to deal and I have now set my default to 9 days so that should fix this part of it. The charts that all had pivots yesterday, had nothing when I got up this morning, but again, when I changed the days to 9, ti was all good.

Fat Tails, I have not configured the times at all, but can certainly do it. I have it set to the defaults for session times. I have Intraday Session set to True, Local Session set to False and Prior Day High/Low/Close set to CalcFromIntraDayData.

So to make sure it is accurate, I need to check the Session Begin and Session End times, but only for FOREX, yeah? I currently only trade Forex, though will look at the ES and TF shortly. So the setting should be 08:00 + 17:00, is that right. Funnily enough, the current setting is Begin 17:00 (ET) and End 17:00 (ET) with Break Period being set to 00:00.

cheers and thanks for your help

honkin

Leave the current settings, as they are correct. For FOREX instruments you need to set the time in Eastern Time (New York) to get the correct pivots. For all other instruments these times are to be set in exchange time, just for FOREX it is New York, because New York owns the daily close of the FOREX markets.

For weekly pivots the indicator should be set to 15 days, for monthly pivots to 65 days lookback period. For daily pivots you do not need 9 days, unless there is a big hole in your data.


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  #8 (permalink)
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Fat Tails View Post
Leave the current settings, as they are correct. For FOREX instruments you need to set the time in Eastern Time (New York) to get the correct pivots. For all other instruments these times are to be set in exchange time, just for FOREX it is New York, because New York owns the daily close of the FOREX markets.

For weekly pivots the indicator should be set to 15 days, for monthly pivots to 65 days lookback period. For daily pivots you do not need 9 days, unless there is a big hole in your data.


Fat Tails

Now that we are 2 hours into the Asian session, my pivots on the AUD/USD are off by 30 pips from both MT4 and Action Forex. I have not changed anything, with Forex Begin and End still set to 17:00. Floor and Fib pivot are showing as .9885 but is .9914 in both MT4 and at Action Forex. GBP/USD is 1.5545 in NT and 1.5521 in both MT4 and Action.

It may well be just the range charts issue, so may have to adopt inputting the HLC manually each day. Would I still leave Local Session at False to do that? I just select User Defined in Prior Day HLC and input the figures manually, yeah?

cheers

honkin

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  #9 (permalink)
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honkin View Post
Fat Tails

Now that we are 2 hours into the Asian session, my pivots on the AUD/USD are off by 30 pips from both MT4 and Action Forex. I have not changed anything, with Forex Begin and End still set to 17:00. Floor and Fib pivot are showing as .9885 but is .9914 in both MT4 and at Action Forex. GBP/USD is 1.5545 in NT and 1.5521 in both MT4 and Action.

It may well be just the range charts issue, so may have to adopt inputting the HLC manually each day. Would I still leave Local Session at False to do that? I just select User Defined in Prior Day HLC and input the figures manually, yeah?

cheers

honkin

With NT 6.5. the only way to get correct pivots on range charts, is to use the indicator in DailyBars mode. But then you need correct daily data. I can only recommend again to use NinjaTrader 7. With NinjaTrader 7 you can set your sessions as required and the session end will correctly cut off the range bar, which is not the case for NinjaTrader 6.5. I attach the charts for AUDUSD created with the SessionPivots indicator for NT7.

(1) Chart 1 uses daily data from Kinetick to determine pivots. The main pivot is shown as 0.99133, calculated from: High = 0.99490, , Low = 0.98579, Close = 0.99330

(2) Chart 2 uses intraday data from Interactive Brokers. The main pivot is shown as 0.99150, calculated from: High = 0.99490, Low = 0.98620, Close = 0.99340

The minor difference between the two pivot values is data related. Both values match well the value that you have found with MT4 and Action FOREX.

Now, if you want to know, why the pivots are false, you have to look at the high, low and close of the indicator. It is displayed, as you can easily check visually, whether high, low and close are correct. If you are 30 pips off, it may well be that the indicator displays yesterday's pivots and not today's. This may occur, as I have never tested this indicator for any Australian timezone. Also try to set IntradaySession to false.

Attached Thumbnails
Help With CMI Pivots-chart-1.png   Help With CMI Pivots-chart-2.png  
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  #10 (permalink)
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Finally managed to start NT 6.5. Pulled the GBPUSD chart and the main pivot PP is displayed as 1.55215 on a 3 min chart. which is correct.


Try to use the indie in DailyBars mode with range bars, that should work better.


NT 6.5. chart attached.

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Help With CMI Pivots-gbpusd-21_12_2010-3-min-.jpg  
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