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@trendisyourfriend: Following you request, I have reworked the indicator and added the pivot range and the prior high and low.
I have also improved the multi-timeframe architecture and speed up the indicator a little. If it takes a second to show up on the chart, this is due to the use of DrawRegion(), which always slows the plot a bit. It would be better to replace DrawRegion() with a manually coded plot, but that would take too much time now.
The hourly pivots need to be aligned somewhere, that is you need to start to count the full hour at one point. The indicator now alternatively allows to align the starting point to the trading day or the session start.
Exported using NT Version 7.0.1000.21
The indicator calculates pivots from any selectable period of N minutes. The first period starts with the session break. Depending on the indicator period selected the last period of the session can be an odd period. …
The chart below shows the 120 min pivots for CL 03-13.
Attached are two examples of an unconventional use of the indicator for 6E 03-13:
Displaying daily pivots (ETH) based on the high, low and close:
If you select the combined length of the intraday session - for 6E this is 1380 minutes - then the indicator can also be used to display daily pivots over the intraday session segments. The pivots need to be aligned to the start of the trading day.
If you use the indicator with the same settings, but switch it to align the start of the pivot period to each session, then it will calculate the pivots from the 3 prior sessions, which cover 1380 minutes. The sessions are rolled.
After I installed the HourlyPivot indicator from downloads. I installed it and it plotted on my Hybrid renko chart but when I tried to go to a 5 min the chart , it plotted as shown in attachment. Then after trying various changes ie session templates time changes my chart had a red X appear on it so i had to close down chart. I reopened another hybrid chart installed hourly pivot on it but they did not plot, I tried different session templates none would make the hourly pivot indicator plot. Then I noticed my min bar types would only plot on the chart as shown in picture attachment, also week,day,month,year bar type all plot the same as in attachment. Sec, tick,range,hybrid,uni renko all plot correctly.
The only fix I can find is to remove Hourly Pivot indicator, restart Ninja then min and all others work fine again. Thoughts?
@Rad4633: Thank you for your comment. You are correct. The indicator had a bug, which let it access an indefined value under specific conditions. I have modified the code. Could you please test and report back?
I had to update the hourly pivots, because it did not work with all datafeeds.
Here is the reason: During times when liquidity is low, it may happen that no transaction takes place during a full minute. Not all data feeds handle this situation in a similar way.
(1) some data feeds insert a minute bar which shows a single trick at the last price traded
(2) other data feeds insert nothing, leaving a blank space
With the second type of data feed an hour sometimes had less than 60 minute bars, and the indicator did not work properly. Therefore I have recoded it based on time intervals, which is the appropriate way of dealing with hourly pivots anyway.
The indicator is a genuine multi-timeframe indicator. The hourly pivots are calculated from a secondary bar series of 1-minute bars. For the sake of discretionary traders, I have allowed the indicator to repaint the lines back to the session start during the first minute of each hour (or other interval selected via indicator dialogue box). This will also avoid a different picture in modes COBC = false and COBC = true. Due to the repainting the indicator is not fit for use with an automated strategy. Please contact me, if you wish to use it for automated trading, as it will require a minor modification.
Exported using NT Version 7.0.1000.21
The indicator calculates pivots from any selectable period of N minutes. The first period starts with the session break. Depending on the indicator period selected the last period of the session can be an odd period. …
