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Also, I'm trying to load a template (Copy and paste the template files into the following directory:
Computer > Documents > NinjaTrader 7 > templates > Chart) I can't find it on the chart were it says load template does not appear?
Can you help answer these questions from other members on NexusFi?
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if you use an eth session template, you need to select "calculate from session = eth" (you took rth). also you need to adjust the "offset eth". if my math is correct, the offset should be "15:30". this is the difference from eth starting time at 6:00 pm eastern time, till rth open at 9:30 am eastern time.
The following 2 users say Thank You to Silvester17 for this post:
@mmaker: The indicator can be used in two different ways to display an RTH VWAP.
(1) The original design requires a subdivided session template. I will explain this by selecting ES as an example.
Taking the contractual trading times for ES, you will find
-> night session from 5:00 PM Central to 8:30 AM Central
-> regular session from 8:30 AM Central to 3:15 PM Central
-> evening session from 3:30 PM Central to 4:15 PM Central
The session template is attached below.
The use of this session template allows the indicator to autodetect the regular session with default settings, when you set the indicator to RTH. Personally, I have created such specific session templates for all instruments that I trade and selected these templates as default templates via the instrument manager. Then I open all charts with <instrument settings>.The advantage is that I can toggle between instruments without any need to change indicator settings, although different instruments have different trading times. The indicator auto-adjusts to all instruments.
(2) As many users do not use those subdivided templates, I have added an offset to the indicator. The offset allows to shift the anchor point of the VWAP away from the session start. Below are a few charts that show how to make use of the offset to create a RTH VWAP or a VWAP with a different anchor point.
Standard case: Regular session start at 8:30 AM Central
The first chart uses the divided session template. With an offset of 0:00 the indicator aligns to the session break. The second chart uses an ETH template for US index futures. In this case an offset of 15:30 hours needs to be set to shift the anchor point of the VWAP from 5:00 PM Central to 8:30 AM Central.
Other cases: The VWAP with SD bands is an indicator that puts on weight throughout the life of the session. During the first 30 to 60 minutes it can be pretty unreliable, as a few high volume bars can move it around. Therefore I would recommend to use an anchor point prior to the session start. One option is simply to use the ETH VWAP, another option would be to let it start two hours earlier than the session, see chart below.
The following 2 users say Thank You to Fat Tails for this post:
just remembered something. the offset option does not work for all products.
with the russell 2000 (tf) you'll encounter some problems when applying an rth vwap on a eth chart. the reason is, not every day has the same session start time. monday to friday the market opens at 8:00 pm est. but on sunday at 6:00 pm est.
so you either have to change your offset settings every monday, or you create a custom session template with eth and rth time. I would prefer a custom session template.
The following 2 users say Thank You to Silvester17 for this post:
@Silvester17: Thank you for your qualified remark. You are absolutely correct. If you want to use the anaCurrentDayVWAPV42 (latest version) with TF, then you need a custom session template to display the VWAP for the RTH session. Just using ETH and offset to display the RTH VWAP would lead to a false anchor point on Monday.
Below is a sample template that can be used for this purpose.
The following user says Thank You to Fat Tails for this post: