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Pivot Point Calculation
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Pivot Point Calculation

  #11 (permalink)
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Narrow and wide pivots

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
- https://www.sierrachart.com/support...hp/t-21832.html
- http://www.earnforex.com/pivot_points_calculator.php
- http://ezinearticles.com/?Forex:-Pi...Rules&id=446207
- http://tradingsharesonline.com/articles.php?article=199
- http://systems4trading.com/system,2...day-system.html
- http://www.floorpivottrading.com/fl...vot-trading.htm
- http://www.esignalcentral.com/excha...y_spotlight.asp
- http://tradingthingys.com/PitPivotPoints.pdf
- also used for Woodie's Pivots just with a different formula for the main pivot

Wide pivots:

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

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Register to download File Type: xlsx DailyPivots_Calculation.xlsx (12.2 KB, 72 views)
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  #12 (permalink)
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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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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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Session Pivots V86 for NT 6.5

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.

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

Yep, putting on weight, need some exercise.

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