sessionPivots Change a day? - NinjaTrader | futures io social day trading
futures io futures trading


sessionPivots Change a day?
Updated: Views / Replies:1,389 / 7
Created: by mcteague Attachments:3

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

sessionPivots Change a day?

  #1 (permalink)
Elite Member
New York NY USA
 
Futures Experience: Beginner
Platform: esignal, ninjatrader,
Favorite Futures: Stocks
 
Posts: 110 since Oct 2012
Thanks: 54 given, 29 received

sessionPivots Change a day?

I use an indicator package called session pivots. If you have it, you will see it in the list as all the "anaCurrent* or
anaPivots*. It just puts some high, low, pivot data, and some fib info on the chart. Sometimes a little handy to have on the chart.

I was wondering if anyone knows how I might modify how it defines a "day"? Or how I can learn how it does define a day? As I trade the emini s&P, I might prefer for the day to begin at 8:00am est. or some other time. Having "the day" begin at midnight may make some of the numbers not as useful as they might be.
It is hard to be sure what a day is in a 24 hr market, and where, if we can define it our selves, it would be most profitable to assign that value.

Thanks

Reply With Quote
 
  #2 (permalink)
Market Wizard
Columbus, OH
 
Futures Experience: None
Platform: NT 8, TOS
Favorite Futures: ES
 
Silvester17's Avatar
 
Posts: 3,326 since Aug 2009
Thanks: 4,571 given, 10,291 received


mcteague View Post
I use an indicator package called session pivots. If you have it, you will see it in the list as all the "anaCurrent* or
anaPivots*. It just puts some high, low, pivot data, and some fib info on the chart. Sometimes a little handy to have on the chart.

I was wondering if anyone knows how I might modify how it defines a "day"? Or how I can learn how it does define a day? As I trade the emini s&P, I might prefer for the day to begin at 8:00am est. or some other time. Having "the day" begin at midnight may make some of the numbers not as useful as they might be.
It is hard to be sure what a day is in a 24 hr market, and where, if we can define it our selves, it would be most profitable to assign that value.

Thanks

I would say you only got 2 options, eth or rth. so the start would be 6:00 pm (eth) or 9:30 am (rth) eastern time.

you don't want to use any other starting time, because you want to look at the same numbers like other traders do.

Reply With Quote
The following 2 users say Thank You to Silvester17 for this post:
 
  #3 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,621 since Mar 2010
Thanks: 4,223 given, 25,485 received
Forum Reputation: Legendary



mcteague View Post
I use an indicator package called session pivots. If you have it, you will see it in the list as all the "anaCurrent* or
anaPivots*. It just puts some high, low, pivot data, and some fib info on the chart. Sometimes a little handy to have on the chart.

I was wondering if anyone knows how I might modify how it defines a "day"? Or how I can learn how it does define a day? As I trade the emini s&P, I might prefer for the day to begin at 8:00am est. or some other time. Having "the day" begin at midnight may make some of the numbers not as useful as they might be.
It is hard to be sure what a day is in a 24 hr market, and where, if we can define it our selves, it would be most profitable to assign that value.

Thanks

@mcteague: NinjaTrader uses session templates. This indicator requires that you use the appropriate session template for each instrument. Here is the process for the E-Mini S&P which you mentioned:

The contractual trading times for the E-Mini S&P are (starting from November 18, 2012)

-> night session from 5:00 PM Central to 8:30 AM Central
-> regular session from 8:30 AM Central to 3:15 PM Central
-> after session from 3:30 PM Central to 4:15 PM Central

Best use a session template that reflects those trading times. As the contractual trading times are different for each instrument, I recommend to store them under instrument settings.

-> create a session template for each instrument
-> store that session template under instrument settings
-> only open charts with instrument settings

and you will always be fine. Never use a session template 24/7. Always make sure that your session templates uses the time zone of the exchange, otherwise you will run into trouble with daylight saving zime.


ETH pivots

If you set one of the indicators contained in the SessionPivots package to ETH, it will calculate high, low or pivots from the full electronic session. If you wish to do this for ES, you can use any of the two attached session templates.


RTH pivots

If you wish to display RTH pivots on a full session chart, you need to tell the indicator the start and end time of the regular session. This is done by selecting a segmented session template that reflects the trading times of the instrument. In case of ES, you would select the second session template attached and set the indicator to "RTH" and to "Second", as the regular session you want to calculate your pivots from is the second session segment of the day.

Nota: You might ask why the after-session ends at 4:30 and not at 4:15. This is just to include all trade data prior to November 18. It is not required for the current trading times.

For more details on appropriate sessions to select for each instrument, please also read through the following thread:

https://futures.io/elite-circle/6055-correct-sessions-your-charts.html



Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Reply With Quote
The following 10 users say Thank You to Fat Tails for this post:
 
  #4 (permalink)
Elite Member
New York NY USA
 
Futures Experience: Beginner
Platform: esignal, ninjatrader,
Favorite Futures: Stocks
 
Posts: 110 since Oct 2012
Thanks: 54 given, 29 received

There is of course the distinct possibility that as a beginner my thinking on this is entirely wrong. I was just thinking that because the emini is a 24 hour market certain calculations like pivot points and other things like "gap ups" are affected. But maybe if I could just pretend that low volume periods could be separated from the "trading" day, or perhaps even that each major exchange timezone could be seen as its own "day"; I might get better calculations and a clearer picture of what is going on. Though I admit the whole idea probably seems a bit strange.

Thanks for the replies

Reply With Quote
 
  #5 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,621 since Mar 2010
Thanks: 4,223 given, 25,485 received
Forum Reputation: Legendary


mcteague View Post
There is of course the distinct possibility that as a beginner my thinking on this is entirely wrong. I was just thinking that because the emini is a 24 hour market certain calculations like pivot points and other things like "gap ups" are affected. But maybe if I could just pretend that low volume periods could be separated from the "trading" day, or perhaps even that each major exchange timezone could be seen as its own "day"; I might get better calculations and a clearer picture of what is going on. Though I admit the whole idea probably seems a bit strange.

Thanks for the replies

@mcteague: This is not a science. Pivots are just meeting points for lazy traders. They were already used by floor traders 40 years ago, before the arrival of the PC was on the agenda.

Traders wanted simple reference points

- that could be established prior to the start of the session
- that were easy to calculate on half a piece of paper

So they took the open, high, low and close of the prior trading day as reference points, then added some thing like a main pivot = 1/3 * (high + low + close). The range of the prior trading day was added to and subtracted from that pivot and you got the levels R2 and S2.

The idea was to enter in the direction of the prevailing trend near PP, sell R2 and to buy S2, unless something very special happened in the market.

This tool was used by many traders, and its effectiveness depends on its concomitant use. Pivots rely on self-fulfilling prophecy. If you use exotic methods to calculate pivots by creating your own sessions they will not work, because you are the only one to use that session. Best accept that there is some herding around those meeting points and use it to your advantage.

The origimal floor pivots referred to the regular session - the floor session. But nowadays, even for physical commodities, many traders like Mark Fisher have shifted to full session pivots. For more ideas how to use the session pivots, please read

https://futures.io/traders-hideout/6742-acd-trading-mark-fisher.html
https://futures.io/elite-circle/3790-ninjatrader-7-toolbox-floor-pivots.html

Reply With Quote
The following 5 users say Thank You to Fat Tails for this post:
 
  #6 (permalink)
Elite Member
New York NY USA
 
Futures Experience: Beginner
Platform: esignal, ninjatrader,
Favorite Futures: Stocks
 
Posts: 110 since Oct 2012
Thanks: 54 given, 29 received

You are correct. I am certainly over thinking the pivots thing. I only really use them as warning signs, and am overreacting to beginner errors. Like maybe shorting at support wasn't to clever. But for the most part things are going ok. You comments about changing there setting actually limiting value is quite correct.
I am a beginner. I use standard settings on pretty standard indicators. I have a few setups I wait for. I try to remember this adage " Professionals win small. Amateurs lose big". I am not crushing the market. But so far things are okay.
Thanks for reminding me that I don't have to go crazy

Reply With Quote
 
  #7 (permalink)
Elite Member
Atlanta, GA/USA
 
Futures Experience: Advanced
Platform: Ninja Trader & TradeStation
Broker/Data: TradeStation
Favorite Futures: Crude Oil, Dow
 
Posts: 1 since Sep 2015
Thanks: 0 given, 0 received

Session Pivots

Hello:

I can't get the blue box to display in the top left hand corner of the session pivots. Can someone send detailed instuctions on which of the 6 indicators to use and the settings? I am attaching the blue box.

I can open all 6 indicators, but can't see the blue box.

Thanks in advance,

20 YR Trader

Attached Thumbnails
sessionPivots Change a day?-blue-box.png  
Reply With Quote
 
  #8 (permalink)
Elite Member
canton mi
 
Futures Experience: Beginner
Platform: ninja xtrader
Favorite Futures: tf, es
 
Posts: 233 since Jan 2014
Thanks: 316 given, 145 received


20YRTRADER View Post
Hello:

I can't get the blue box to display in the top left hand corner of the session pivots. Can someone send detailed instuctions on which of the 6 indicators to use and the settings? I am attaching the blue box.

I can open all 6 indicators, but can't see the blue box.

Thanks in advance,

20 YR Trader

the blue box is ana current open high low close (OHLC) indicator
ADR stands for the average daily range
in the indicator window, go to display option area and it is the "show range data" option

Reply With Quote

Reply



futures io > > > > sessionPivots Change a day?

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)
 

RandBots: AutoTrading Bots to diversify your trading

Oct 24
 

TopstepTrader: Profiting Without Risking Your Own Money

Oct 26

Building Open Source Indicators for NT8 w/Fat Tails @ Lizard Indicators

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
If you were starting over, what would you change? Big Mike The Elite Circle 63 December 22nd, 2015 05:57 PM
Is there an indicator that shows price change averaged with volume change intrabar? Itchymoku NinjaTrader 8 July 31st, 2012 07:40 PM
effect of gains and losses of previous day on next day tradersam Psychology and Money Management 2 May 18th, 2011 03:35 PM
What do you do when you want to change everything? mindfultrader Psychology and Money Management 20 April 5th, 2011 10:39 PM
Calculate GAP (Close of Prior Day, Open of Current Day) bluemele NinjaTrader Programming 16 January 19th, 2011 09:19 PM


All times are GMT -4. The time now is 10:28 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-10-20 in 0.15 seconds with 20 queries on phoenix via your IP 54.162.105.241