Please see the attached snagit . . . the correct settlement values were provided by Kinetick as confirmed by MyPivots . . .
However, low value was 2704.75 but the value plotted was 2707.25 using daily bars calculation . . .
Don't know if I am doing something wrong or if this might be a "bug" . . .
Thx for all of your great indicators . . . I use many of them and often send good energy your way while trading . . .
PS: I am having a very hard time trying to find your most recent pivot indicators in the download section . . . Daily, Weekly and Monthly . . . I have spent over a hour trying to find them to no avail . . . if you could send them (link) in my direction I would greatly appreciate it . . .
You have selected a RTH / Second Session / DailyBars setting. The Daily Bars setting is only applied to the close or settlement, but not to high and low.
Let me summarize again, what the indicator does
ETH / DailyBars: All data is taken from daily bars.
RTH / DailyBars: High and low are taken from the RTH session as per session template, the close/settlement is taken from daily bars.
ETH / CalcFromIntraday Data: High, low and close are determined from the trading day as defined per session template.
RTH / CalcFromIntraday Data: High, low and close are determined from the RTH session as defined per session template.
As you have selected RTH, the indicator displays the RTH low correctly as 2707.25
If you want to display the ETH low of 2704.75, you just need to set the indicator to ETH.
After all that is what you want to display.
The following user says Thank You to Fat Tails for this post:
I have searched and searched for some description on the web and on futures.io (formerly BMT) for what the Directional Pivot and Central Pivot represent. Some Forex sites say the Central pivot is just the open for the day, but that isn't right. I don't like things (especially lines) on my charts that I don't know what they are. here is a shot of today's NQ and you can see price bounced between them fairly effectively, coincidence? Who knows since I don't know what they are. Most Pivot sites just talk about R3, R2, R1, PP, S1, S2, S3 so if anyone know what they are and their usefulness I'd really appreciate a nudge in the right direction. Thanks!!
Central Pivot: The prior day's midline. Formula (high + low)/2. It does not show, which way the price action was trending, but just where the center of the prior day's price action was.
Floor Pivot PP: This takes into account the close as well. Formula (high + low + close)/3. The floor pivot incorporates the close or settlement price and thus shows the tendency of the market at the close. This price is also called the typical price of yesterday.
Directional Pivot: Just mirror the Central Pivot around the Floor Pivot and you get the Directional Pivot. Formula (high + low + 4* close)/6. It gives more weight to the close, close : high: low is 4:1:1. It shows the direction of yesterday's price action, not the midline, therefore directional pivot.
The value area between central and directional pivot is called pivot range. The expression pivot range was coined by Mark Fisher, see post above.
The following 5 users say Thank You to Fat Tails for this post:
At the suggestion above I did loads of searching and reading on Mark Fischer's ACD method and his use of the term "pivot range". Curiously I found tons of data on pivot ranges, but almost no mention of central or directional pivots. When I searched for "central pivot" and "directional pivot" I got two futures.io (formerly BMT) posts by you so all roads were pointing back to you. THANK You for clearing up what they were. I almost bought Fischer's book to find out. Thank you so much for sharing the Pivot indicator and what each of these additional pivots are, much appreciated!
The following user says Thank You to RambleDog for this post: