NexusFi: Find Your Edge


Home Menu

 





What open/close times are used to calculate DAX and NQ pivot points


Discussion in Traders Hideout

Updated
      Top Posters
    1. looks_one TomJam with 3 posts (1 thanks)
    2. looks_two matthew28 with 1 posts (1 thanks)
    3. looks_3 tr8er with 1 posts (2 thanks)
    4. looks_4 bobwest with 1 posts (2 thanks)
      Best Posters
    1. looks_one tr8er with 2 thanks per post
    2. looks_two bobwest with 2 thanks per post
    3. looks_3 matthew28 with 1 thanks per post
    4. looks_4 TomJam with 0.3 thanks per post
    1. trending_up 1,863 views
    2. thumb_up 6 thanks given
    3. group 2 followers
    1. forum 5 posts
    2. attach_file 0 attachments




 
Search this Thread

What open/close times are used to calculate DAX and NQ pivot points

  #1 (permalink)
TomJam
darwin Australia
 
Posts: 3 since Apr 2015
Thanks Given: 2
Thanks Received: 1

Hey guys. I'm a forex trader but have been dipping in and out of the DAX for the last 6 months. I also like the look of the NQ so may visit it from time to time.

My question is, what are the most common open and close times used to calculate pivot points for these instruments.

Cheers in advance

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
need some ninjascript help
Traders Hideout
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
Better Renko Gaps
The Elite Circle
ZombieSqueeze
Platforms and Indicators
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
 

  #2 (permalink)
 tr8er 
Europe
Market Wizard
 
Experience: Advanced
Platform: TradeNavigator, BookMap
Trading: ES, CL, 6E, 6B
Posts: 704 since Jan 2017
Thanks Given: 220
Thanks Received: 709

Hi Tom,

I personal use the entire previous day to calculate PP's, but of course you also can use the day-session (what many traders do):

NQ: 8:30 am CT to 3:15 pm CT

FDAX: 2 am CT to 10:30 am CT

Reply With Quote
Thanked by:
  #3 (permalink)
TomJam
darwin Australia
 
Posts: 3 since Apr 2015
Thanks Given: 2
Thanks Received: 1



tr8er View Post
Hi Tom,

I personal use the entire previous day to calculate PP's, but of course you also can use the day-session (what many traders do):

NQ: 8:30 am CT to 3:15 pm CT

FDAX: 2 am CT to 10:30 am CT

Thanks mate. What time do you use to get the close value for each instrument and why do you use these times?

Also, why do you say 3:15 CT close for nq. I thought the core hours for NQ were when the NYSE was open which closes at 3:00 CT.

And for the DAX I know Xetra hours is the the basis for the DAX but is it common to use the Börse Frankfurt hours?

Thanks

Reply With Quote
  #4 (permalink)
 
matthew28's Avatar
 matthew28 
United Kingdom
 
Experience: Beginner
Platform: Bookmap
Broker: Stage 5, Rithmic
Trading: US Equity Index Futures
Posts: 1,250 since Sep 2013
Thanks Given: 3,500
Thanks Received: 2,532


TomJam View Post
Also, why do you say 3:15 CT close for nq. I thought the core hours for NQ were when the NYSE was open which closes at 3:00 CT.

Because the settlement time for the US equity indexes is 3.15pm CT.
But Jim Dalton called it the "overrun" and his Market Profile chart finished at 3pm with the stock market close as the futures volume dies after 3pm anyway so it makes little difference. I think with value areas and POC based on TPO Market Profile rather than volume profile it can makes sense to only count the bars that are important for the session rather than include a very low volume bar at the end of the day which could move the session POC or value area position due to the bar count.

You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
Reply With Quote
Thanked by:
  #5 (permalink)
 
bobwest's Avatar
 bobwest 
Western Florida
Site Moderator
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
Frequency: Several times daily
Duration: Minutes
Posts: 8,162 since Jan 2013
Thanks Given: 57,333
Thanks Received: 26,267


TomJam View Post
Hey guys. I'm a forex trader but have been dipping in and out of the DAX for the last 6 months. I also like the look of the NQ so may visit it from time to time.

My question is, what are the most common open and close times used to calculate pivot points for these instruments.

Cheers in advance


tr8er View Post
Hi Tom,

I personal use the entire previous day to calculate PP's, but of course you also can use the day-session (what many traders do):

NQ: 8:30 am CT to 3:15 pm CT

FDAX: 2 am CT to 10:30 am CT

The original "floor pivots" were used by pit traders on the trading floor and depended on the trading hours at that time, which are now essentially what are called the RTH (regular trading hours). At least for the US equity futures, they are also the most active in terms of volume, which reflects the highest level of trader participation. You are right about the NYSE hours, but the RTH close is 15 minutes later in equity futures (and the volume dies in those 15 minutes.)

However, the pits are no more, and there is trading activity outside of RTH anyway, so many traders will now base their pivots on the full "Globex" hours ("ETH"), which begin at 1700 CT and stretch to 1600 CT for US equities.

I have also seen traders mark their charts with both the ETH and RTH pivots.

One argument you sometimes see is that one or the other of these are the levels that "most" traders look at, and therefore that this is what you should use, because it's what most other traders are going to act on. (But how does anyone really know what "most" traders look at? )

All this can get pretty confusing if you're looking for the "right" answer, since a case can be made for any and all of them.

Personally, I have found either to work sometimes, and have generally gone for the ETH option just because it appeals to me more as reflecting the entire trading period. Eventually I decided to take them off entirely -- not because they didn't work, but just because I had so many lines on my chart, from these and other indicators, that I couldn't decide what to do. So there's an answer: use either, or both, or none.

A better answer would be to try one or the other, or both, on your charts and see how they work out, as a part of your own trading approach. For whatever reason, either will sometimes work quite well, but your mileage may vary, probably depending on everything else you are looking at.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
Reply With Quote
Thanked by:
  #6 (permalink)
TomJam
darwin Australia
 
Posts: 3 since Apr 2015
Thanks Given: 2
Thanks Received: 1


bobwest View Post
The original "floor pivots" were used by pit traders on the trading floor and depended on the trading hours at that time, which are now essentially what are called the RTH (regular trading hours). At least for the US equity futures, they are also the most active in terms of volume, which reflects the highest level of trader participation. You are right about the NYSE hours, but the RTH close is 15 minutes later in equity futures (and the volume dies in those 15 minutes.)

However, the pits are no more, and there is trading activity outside of RTH anyway, so many traders will now base their pivots on the full "Globex" hours ("ETH"), which begin at 1700 CT and stretch to 1600 CT for US equities.

I have also seen traders mark their charts with both the ETH and RTH pivots.

One argument you sometimes see is that one or the other of these are the levels that "most" traders look at, and therefore that this is what you should use, because it's what most other traders are going to act on. (But how does anyone really know what "most" traders look at? )

All this can get pretty confusing if you're looking for the "right" answer, since a case can be made for any and all of them.

Personally, I have found either to work sometimes, and have generally gone for the ETH option just because it appeals to me more as reflecting the entire trading period. Eventually I decided to take them off entirely -- not because they didn't work, but just because I had so many lines on my chart, from these and other indicators, that I couldn't decide what to do. So there's an answer: use either, or both, or none.

A better answer would be to try one or the other, or both, on your charts and see how they work out, as a part of your own trading approach. For whatever reason, either will sometimes work quite well, but your mileage may vary, probably depending on everything else you are looking at.

Bob.

Thanks for the detailed answer Bob. Your post is very healpful.

Reply With Quote
Thanked by:





Last Updated on July 5, 2020


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts