Indicators: Daily Pivot Points shifted for different day start time - page 2

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paul34:

This indicator is great. Thanks for your work. It's difficult finding a good PV calcualtor that also still draws lines for past days. Most calculators simply draw the lines over the entire chart for only the current period - not very useful when you want to go back and practice trading a system with pivot points. Thanks for your hard work!

I only have one suggestion. Could you add midpivots, if you decide to do an updated version? I think it'd prove quite useful.

Thanks.

Thanks for your comments.

The 7 pivot levels are plotted using indicator buffers and there is a limit of 8, so the implementation would have to change for the midpivots to be displayed. They would probably need to be trend lines, which is possible. I have no plans to work on this any more because it does what I need and I have other projects on the go.

Thanks again,

Jellybean

 

Thank you for this wonderful indicator.

Ira Berenhaus

(973) 566-0095

iberenhaus@comcast.net

 
iberenhaus:

Thank you for this wonderful indicator.

Ira Berenhaus

(973) 566-0095

iberenhaus@comcast.net

Hi Ira

Thanks for you comment. It's always satisfying to see others make use of something you've done.

Cheers

Jellybean

 

Hallo Jellybean,

thanks for program! Very nice feature the shifting. But I think R3 and S3 are calculated the wrong way. Some sources define it as

R3 = 2 * (pp - Low) + High

S3 = Low - (2 * (High - pp))

So I changed the coding like this:

// Res3[i] = Res2[i] + Range; // R3 <-- this is wrong
Res3[i] = 2*(Pivot[i] - PDayLow) + PDayHigh; // R3 <-- this is right

// Sup3[i] = Sup2[i] - Range; // S3 <-- this is wrong
Sup3[i] = PDayLow - 2*(PDayHigh - Pivot[i]); // S3 <-- this is right


Maybe you agree - so you can update the code.


Greetings,

Holger

 
substanz:

Hallo Jellybean,

thanks for program! Very nice feature the shifting. But I think R3 and S3 are calculated the wrong way. Some sources define it as

R3 = 2 * (pp - Low) + High

S3 = Low - (2 * (High - pp))

So I changed the coding like this:

// Res3[i] = Res2[i] + Range; // R3 <-- this is wrong
Res3[i] = 2*(Pivot[i] - PDayLow) + PDayHigh; // R3 <-- this is right

// Sup3[i] = Sup2[i] - Range; // S3 <-- this is wrong
Sup3[i] = PDayLow - 2*(PDayHigh - Pivot[i]); // S3 <-- this is right


Maybe you agree - so you can update the code.


Greetings,

Holger

Hi substanz

Boy, am I embarassed! :-(

You are correct that I have made a mistake in the calculation of R3 & S3. My mistake was to use R2 and S2, when I meant to use R1 & S1. I have changed the code and added a comment to my initial message and re-submitted it for approval.

The code now calculates:

Res3[i] = Res1[i] + Range;

Sup3[i] = Sup1[i] - Range;

These are mathematically the same as your suggested calculation, but they appeal to my sense of simplicity ;-)

I thank you for pointing this out to me and I apologise to all who may be inconvenienced by the mistake.

Cheers

Jellybean

 

Hi Mr. JellyBean! :-)

Great job well done! Happy trading with it!

 

I really like your pivots and use them for scalping targets. However, the 1m daily pivot is different from other time frames. Could you fix this?

God bless you,

Steve

 
stevew:

I really like your pivots and use them for scalping targets. However, the 1m daily pivot is different from other time frames. Could you fix this?

God bless you,

Steve

Hi Steve

I have just tried this quickly on EURUSD with several values of ShiftHrs and the values for the levels didn't change as I changed timeframe. Please give me more information, for example, what currency pair and what value of ShiftHrs are you using? I need to replicate the problem before I can investigate it.

Cheers

Tony

 

Hi Jellybean

I downlaoded this indicator ages ago and use it all the time. Top banana, thanks!

Regards,

MOOSE.

 
Hey Jellybean, this is such a great pivot point indicator. I have two suggestions:

1. an option to show the pivot point calculation values. It would be much easier than to hover the mouse over the lines.
2. an option to show mid pivots
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