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Pivot Point Calculation


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Pivot Point Calculation

  #11 (permalink)
 
Fat Tails's Avatar
 Fat Tails 
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Short explanation on narrow and wide pivots. I added the formula for wide pivots on your spreadsheet.

Narrow pivots formula: Adding daily range to R1 or subtracting daily range from S1

R3 = R1 + (H-L) = H + 2*(P-L)
S3 = S1 - (H-L) = L - 2*(H-P)


Wide pivots formula: Adding daily range to R2 or subtracting daily range from S2

R3 = R2 + (H-L) = P + 2*(H-L)
S3 = S2 - (H-L) = P - 2*(H-L)

Let us have a look, where these formulae are being cited:

Narrow pivots:

- J. Welles Wilder: New Concepts in Technical Trading Systems
- J.F. Carter : Mastering The Trade
- [COLOR=#0000ff]https://www.[AUTOLINK]sierrachart[/AUTOLINK].com/support...hp/t-21832.html[/COLOR]
- [COLOR=#0000ff]http://www.earnforex.com/pivot_points_calculator.php[/COLOR]
- [COLOR=#0000ff]http://ezinearticles.com/?Forex:-Pi...Rules&id=446207[/COLOR]
- [COLOR=#0000ff]http://tradingsharesonline.com/articles.php?article=199[/COLOR]
- [COLOR=#0000ff]http://systems4trading.com/system,2...day-system.html[/COLOR]
- [COLOR=#0000ff]http://www.floorpivottrading.com/fl...vot-trading.htm[/COLOR]
- [COLOR=#0000ff]http://www.esignalcentral.com/excha...y_spotlight.asp[/COLOR]
- [COLOR=#0000ff]http://tradingthingys.com/PitPivotPoints.pdf[/COLOR]
- also used for Woodie's Pivots just with a different formula for the main pivot

Wide pivots:

- [COLOR=#0000ff]http://www.traderslaboratory.com/fo...ormulas-35.html[/COLOR]
- [COLOR=#0000ff]http://www.investopedia.com/article...intstrategy.asp[/COLOR]
- [COLOR=#0000ff]http://www.[AUTOLINK]ninjatrader[/AUTOLINK]-support2.com...read.php?t=4676[/COLOR]
- [COLOR=#0000ff]http://www.mypivots.com/page.aspx?p...tcalculatorhelp[/COLOR]
- [COLOR=#0000ff]http://www.tralvex.com/pub/forex/[AUTOLINK]pivots[/AUTOLINK]/index.htm[/COLOR]

Attached Files
Elite Membership required to download: DailyPivots_Calculation.xlsx
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  #12 (permalink)
 
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 trendisyourfriend 
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Do you know if there is an indicator that can plot both wide and narrow pivots for NT6.5 ? Presently i am using CMIPivotsDaily_V75 but i can't set wide or narrow. By default, narrow is used.

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  #13 (permalink)
 
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 Fat Tails 
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trendisyourfriend View Post
Do you know if there is an indicator that can plot both wide and narrow pivots for NT6.5 ? Presently i am using CMIPivotsDaily_V75 but i can't set wide or narrow. By default, narrow is used.


I hate touching NT 6.5. again, otherwise it takes a few minutes to modify the indicator.


You could consider moving to NT 7.0, the SessionPivotsV23 indicator plots both wide and narrow pivots.

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  #14 (permalink)
 
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 Fat Tails 
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Here is a special version for Yvan including wide pivots. Only use it with NinjaTrader 6.5.

For NinjaTrader 7.0 use SessionPivots from the appropriate download section.

Attached Files
Elite Membership required to download: SessionPivotsV86.zip
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  #15 (permalink)
 
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 trendisyourfriend 
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Fat Tails View Post
Here is a special version for Yvan including wide pivots. Only use it with NinjaTrader 6.5.

For NinjaTrader 7.0 use SessionPivots from the appropriate download section.

Thanks, can it plot both levels with one instance or do i need to use two instances to get wide and narrow pivots ?

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  #16 (permalink)
 
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 Fat Tails 
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trendisyourfriend View Post
Thanks, can it plot both levels with one instance or do i need to use two instances to get wide and narrow pivots ?


It either plots narrow or wide. But remember that the difference only shows on the levels S3 and S4. For many trading days this is irrelevant.


This is what you can do:

-> After a narrow range balancing day, deactivate midpivots and set the pivots to "wide".

-> After a trending day activate midpivots and set the pivots to "narrow".

Do not ask me to automate this.

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  #17 (permalink)
 
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 trendisyourfriend 
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Fat Tails View Post
It either plots narrow or wide. But remember that the difference only shows on the levels S3 and S4. For many trading days this is irrelevant.


This is what you can do:

-> After a narrow range balancing day, deactivate midpivots and set the pivots to "wide".

-> After a trending day activate midpivots and set the pivots to "narrow".

Do not ask me to automate this.

Interesting and logical. Nice tip. I'll proceed that way as it makes sense and it's a way to adapt to the current condition. To automate this action, it would need to detect yesterday range and make a decision accordingly.

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  #18 (permalink)
 
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 Fat Tails 
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trendisyourfriend View Post
Interesting and logical. Nice tip. I'll proceed that way as it makes sense and it's a way to adapt to the current condition. To automate this action, it would need to detect yesterday range and make a decision accordingly.

I have rapidly made the changes of the pivots indicator. Could you please test, whether it works properly?

I have not yet tested it myself, as I do not use NT 6.5. anymore. Thank you.

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  #19 (permalink)
 
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 jagui 
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Fat Tails View Post
Short explanation on narrow and wide pivots. I added the formula for wide pivots on your spreadsheet....

Thank you Fat Tails, I see you're growing...

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  #20 (permalink)
 
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 Fat Tails 
Berlin, Europe
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jagui View Post
Thank you Fat Tails, I see you're growing...

Yep, putting on weight, need some exercise.

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