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anadailypivots v39
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anadailypivots v39

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anadailypivots v39

On the new daily pivots v39 what is the dark blue pivot range with the central pivot and directional pivot? Is this the set of pivs developed by Mark Fisher? If not, what do they represent?

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turkmay View Post
On the new daily pivots v39 what is the dark blue pivot range with the central pivot and directional pivot? Is this the set of pivs developed by Mark Fisher? If not, what do they represent?

Mark Fisher did not invent or develop any pivots. Floor pivots were used by floor traders for decades.

The advantage of floor pivots is that you do not need a PC to calculate them. They are levels based off yesterday's high, low and close. This allowed floor traders to calculate them prior to the start of the session for the current day. The floor pivot PP is yesterday's high + low + close divided by 3. Every floor trader was able to do that calculation on a piece of paper.

Then you just add or subtract yesterday's range to get the levels S2 and R2. The lines are based on value (main pivot PP) and volatility (R2, S2). Since traders have access to sophisticated tools such as workstations and PCs other concepts have evolved that use value and volatility, for example the VWAP and standard deviation bands or the POC (point of control) and the value area representing a defined fraction of the trade volume.

Another pivot used by floor traders is yesterday's midline, which is simply yesterday's high + low divided by 2. The pivot range which represents the value area indicated by the floor pivot, is contained between the midline (which I called central pivot) and the midline mirrored around the main pivot PP (which I called directional pivot). The pivot range is thus a symmetrical range around the main pivot PP.

Mark Fisher has only explained that concept in his book, of course he did not invent it. The pivot range calculated by the indicator is in line with Mark Fisher's definition, which is the same as explained above.

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Pivot issue?

Good Morning @Fat Tails

Upon log in I get a strange display of daily pivot zones. Any idea on how to fix this. I have made no changes that I am aware of. Thanks DB

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wldman View Post
Good Morning @Fat Tails

Upon log in I get a strange display of daily pivot zones. Any idea on how to fix this. I have made no changes that I am aware of. Thanks DB

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@wldman:

Session Template

Pivots can only work with the appropriate session template. No session template is shown, but I suspect that you used a 24/24 session template.

The FOREX session starts at 5:00 PM EST and ends at 5:00 PM Est. The "FOREX" session template is preset for all NinjaTrader FOREX instruments, please use <instrument settings> for all charts.


Daily Data

The pivots are preset to "DailyBars" for a single reason: to catch the settlement price for futures, which is not available from intraday data. For FOREX you do not need to set the pivots to "DailyBars". It is possible to use both "DailyBars" and "CalcFromIntradayData" setting, in both cases you will get correct results.

Your narrow pivots points to a data problem. The DailyBars are asynchronously loaded. This requires that you update your daily data base after the session end. Please open a daily chart to update your daily data in the historical data base.

A better option is to use the Historical Data Manager to edit your data and to update it. That way you can update 50 instruments at once.

Attached is $EURUSD chart with the settings that you have selected with correct data in the data base.

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I looked at that...

@Fat Tails

I will do so again right now. The strange thing is that I made no changes...if Im on the wrong session, I did not make a change that I needed to in order to maintain the correct view or the machine made a change by itself.

Thank you for the response. I will see if there is an issue with session template. DB

Okay, I noticed this morning, something that I did not see yesterday. The indicator setting "session type" had some how reverted to "auto" from RTH. The RTH setting choice seems to restore what I was accustomed to display wise.


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Last edited by wldman; August 15th, 2012 at 07:54 AM. Reason: add outcome
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wldman View Post
@Fat Tails

I will do so again right now. The strange thing is that I made no changes...if Im on the wrong session, I did not make a change that I needed to in order to maintain the correct view or the machine made a change by itself.

Thank you for the response. I will see if there is an issue with session template. DB

The main problem is data related. The session template is only a secondary problem.

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I rolled back...

to the time of your screenshot and I do think the display is the same. Thank you for the help and sorry for missing the obvious...but I don't remember seeing "auto" under session type when I checked yesterday. I though maybe I missed a "value" somewhere needed for the calc.

The only other data or feed issue that I am aware of as a possibility is that I get "error 105 (net::ERR_NAME_NOT_RESOLVED): Unable to resolve the server's DNS address" quite often. I have a difficult time accessing web pages but the brokers software maintains "all connected" status display....could that be it?...as I have seen settings and displayed items change on their own. Thanks again. Dan

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wldman View Post
@Fat Tails

I will do so again right now. The strange thing is that I made no changes...if Im on the wrong session, I did not make a change that I needed to in order to maintain the correct view or the machine made a change by itself.

Thank you for the response. I will see if there is an issue with session template. DB

Okay, I noticed this morning, something that I did not see yesterday. The indicator setting "session type" had some how reverted to "auto" from RTH. The RTH setting choice seems to restore what I was accustomed to display wise.


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Why did you set your chart to RTH for $ EURUSD? First there is no regular session for $EURUSD, those only exist for futures. Also the indicator, in order to catch a regular session, would need a session template, which includes a regular session (several sessions per day, one of which is the regular session).

For currencies you really should set the indicator to ETH (or Auto, which selects ETH for currencies).

Otherwise the pivots look correct. In absence of a RTH session, the indicator will use the only session available. My pivots are similar, except that - related to my data feed - I have a lower low and close for yesterday, probably also a higher high - which then translates to slightly lower support pivots.

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I do not ...


remember making any changes to settings. As you know from all the help you have given me, I am almost 100% visually oriented. When I first applied the indicator I called out my levels to my little collaborative. Since I use the levels as a proxy for price, a tick or two does not matter. Instead I look to the tape for price action in that area of confluence.

The London session and the first half in NY is the "meat" of the meal in my opinion. Do you think I should adjust to the settings that you have referenced above, or is well enough to be left alone here?

In "data series" the session template is set to "forex"


Last edited by wldman; August 15th, 2012 at 09:22 AM. Reason: add setting info
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