Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
The main pivot PP is not equal to the VWAP. The pivot is the arithmetic average of high, low and settlement price, the calculation just uses 3 data points. The VWAP is the arithmetic average of all contracts traded over the trading day.
When the range is up, it paints green (see screenshot above), when it is own it paints red. "Up" means that the directional pivot is above the central pivot (yesterday's midline), while "down" means that the directional pivot is below the central pivot. The range is up when yesterday's close was in the upper half of yesterday's range, it is down when the market has closed in the lower half of the daily range.
The daily pivots indicator that comes with the SessionPivots shows the trend direction - up or down - via the bright blue section of the pivot range. the dark side is off-trend.
Can you please clarify.Bright blue for up and down or for up?From what i see,the range in the SessionPivots is always bright blue,regardless where it closes.
I know FT is busy enough to answer each and every inquiry in every nano-second,so i did a search and,hopefuly,found(not always happens though) the description here,for those who are interested - hit the link that will redirect you to the explanation.
I was looking @ CL for yesterday (Dec 22) and did the following analysis which seems similar to the ES chart you posted regarding price action on Dec 17.
For CL on Dec 22:
Thursday VWAP is slightly greater than Friday VWAP => Bullish bias going into Monday Dec 22.
Thursday pivot > Friday pivot so bias for Monday is bullish. Did I get this analysis right?
I have tradestation and am using the ETH VWAP's which I found on the TS community. so there maybe some discrepancy in how the calculations are done.
On Monday, the overnight session in CL was bullish, but the RTH session clearly bearish.
Since bias based on pivot and VWAP was bullish, in real time at what point would warning signs flash regarding the bullish bias?
if instrument settings are ETH, which I assume they are, there is no RTH timeframe available where the indicator could aggregate data from. Setting it to RTH-Second requires having at least two sessions per day in the used session template.
You'd probably need to build a custom session template if you want to see the full ETH session but have the pivots calculated from RTH.
That's at least how it seemed to me when looking at the indicator (I use it myself).
thanks for your reply.Can you please show how that "custom session template" your talking about look like?If i want,for e.g.,to have the entire ETH 6E session on the chart,but to have the Pivots calculated from RTH only.In this case i`d need CME FX Futures RTH.
