floor trader pivots

[bltdavid]

I see all the posts regarding the floor trader pivots indicator for NT7, but I see no link posted where I can download this indicator. Can someone tell me where to go to get this indicator?

They're available in the NinjaScript download section.
Try links in this post,

https://ninjatrader.com/support/forum/showpost.php?p=366215&postcount=4

[fredly]

Floor trader pivots

I see all the posts regarding the floor trader pivots indicator for NT7, but I see no link posted where I can download this indicator. Can someone tell me where to go to get this indicator?

[piptek]

Floor pivots are widely used by all the traders including traders in exchange. and you will see more actions on the resistance and support levels. So it is better to stick to what everyone uses

[piptek]

I modified the R3 and S3 and it is working great. Also modified the color of PP and Rs at the initialize function. Now I am working on adding R3-R6 and S3-S6. Having big trouble after adding. I added the return values for all these extra supports and resistances and added variables and logics...

[pboyles]

Missing data from Friday

Problem solved, for the benefit of anyone else that reads this I did the following in v6.5. Right click on chart>properties, under 'data series' I changed 'exclude weekend' to 'true'. That also solved my other problem which was the previous day OHLC also being messed up by the Sunday data.

So this all worked fine until today, it seems now that Fridays data has disappeared with the exception of 1 tick. NJ is using this 1 tick of data to calculate the pivots which obviously doesnt work. I tried to contact Velocity Futures, they were less than helpful and told me I was lucky to have any previous data at all. Hardly the answer I was looking for. Does anyone know what the issue is?

Please wait. A representative will be with you shortly.
Dandee says:
Hello peter. how can I help you?
peter says:
hello, I have NJ demo with you, today I have missing data from Fridays session, all it shows is 1 tick of data from Friday, I have todays data live and all of last week except friday. This is the case for the bund and the eurostoxx
Dandee says:
its because it doesnt have historical data
peter says:
no i dont think so, I have data prior to Friday
peter says:
back to 14th september on my current settings
Dandee says:
wells theres no way for us to retrieve it
peter says:
who can
Dandee says:
no one, we dont offer historical data and it's for a demo... changes may occur if servers are reset
peter says:
you do realise that I have data back to 14th September as normal
peter says:
which would be historical
Dandee says:
you're lucky to have that
peter says:
thanks I will post this conversation on Elitetrader and trade2win and see if anyone has a solution

[Harry]

Hi,

How do I adjust the settings of my CMIPivotsDailyv86 indicator (thanks to Harry for the link to this indicator) to make it's calculations based on NY time instead of my local time?

Thanks,
Kevin

For each of the supported instruments the indicator uses the exchange time. This is necessary because the exchanges use different daylight savings time schedules compared to your local time. The indicator is preset for the most liquid futures contracts.

If the instrument you trade is not supported via indicator panel, then you have to set the indicator to Local and use your local time.

If you have further questions, you can send me a private mail via this forum.

I do not use NT 6.5. any more. NT 7.0 has advanced session management which makes it much easier to Calculate correct pivots.

[kcooper]

Hi,

I use NinjaTrader v6.5 and I'm 7 hours ahead of NY time.

How do I adjust the settings of my CMIPivotsDailyv86 indicator (thanks to Harry for the link to this indicator) to make it's calculations based on NY time instead of my local time?

How do I make Ninja's standard "Pivots" indicator to make it's calculations based on NY time instead of my local time?

Thanks,
Kevin

[pboyles]

Problem solved, for the benefit of anyone else that reads this I did the following in v6.5. Right click on chart>properties, under 'data series' I changed 'exclude weekend' to 'true'. That also solved my other problem which was the previous day OHLC also being messed up by the Sunday data.

[pboyles]

Thanks, my broker seems to have an issue with V7 so I was told to go back to 6.5. I will have a look at the session templates, as the other poster said just eliminating the Sunday session would probably work. The issue only really affects the e mini S&P in my case, the Bund and Eurostoxx dont trade on Sunday and I dont trade FX.

[shali27]

Eliminate the weekend session, and set your time frame appropriately. I use 6:30 am to 1:15 pm for the index futures.

[Harry]

Recommended: Switch to NT 7. Use appropriate session template for instrument. First-connect NT 7 to free Kinetick-EOD datafeed and second-connect it to your usual datafeed. Apply pivots indicator in DailyBars mode. It will display ETH (electronic trading hours) pivots.

If you need floor pivots from the RTH session, then use a session template that singles out the RTH session (pre-session, RTH session, aftersession or RTH session only) and apply the SessionPivotsV28 indicator in DailyBars/RTH mode.

Whether you use ETH or RTH pivots depends on the instrument. For CL for example RTH seems more effective, while ETH is not a bad choice for FOREX.

Is there any way to set up the pivots indicator to disregard the Sunday evening session? Basically at present on a Monday it uses Sundays values to calculate Mondays pivots, obviously I'd like to use Fridays values to calculate Mondays pivots. Every other day is fine, its just how it handles the short Sunday evening session. Today I deleted the indicator and calculated the pivots manually, however I'd like to avoid this if possible.

[pboyles]

Is there any way to set up the pivots indicator to disregard the Sunday evening session? Basically at present on a Monday it uses Sundays values to calculate Mondays pivots, obviously I'd like to use Fridays values to calculate Mondays pivots. Every other day is fine, its just how it handles the short Sunday evening session. Today I deleted the indicator and calculated the pivots manually, however I'd like to avoid this if possible.

[mea109]

Hi mea109,

The formula you wrote down describes standard floor pivots for R2, R1, PP, S1 and S2 as used by floor traders, before electronic trading was introduced.

For R3 and S3 there are 2 alternative formulas being used:

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

My choice is as follows:

Wide pivots leave a large gap between the levels R2 and R3. This gap is the complete daily range. This means that you will not find any further resistance level within a range that equals the daily range of the prior day. Narrow pivots are therefore much more practical. They will also plot levels at R4 = H + 3*(P-L) and S4 = L - 3*(H-P). J.F. Carter also uses narrow pivots (see his books pp. 134,135).

The SessionPivots indicator (link below) also uses narrow pivots (in line with eSignal).

http://www.ninjatrader-support2.com/vb/local_links.php?action=jump&catid=1&id=136

The pivots that come with NinjaTrader are wide pivots.

Why not try both and watch out, how they are being ignored by the markets? You also have the choice between day session pivots and 24-hour-session pivots, as both are used by traders. Do not forget the midline and the VWAP of the prior day. These will act as pivots as well!

sorry for my late reponse
merci ,merci beaucoup

[eDanny]

Wow, I'm a noob on Pivots and Harry, you are the Pivot master. Nice post.

[Harry]

There are two different formulae for floor pivots R3 and S3

Hi mea109,

The formula you wrote down describes standard floor pivots for R2, R1, PP, S1 and S2 as used by floor traders, before electronic trading was introduced.

For R3 and S3 there are 2 alternative formulas being used:

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

My choice is as follows:

Wide pivots leave a large gap between the levels R2 and R3. This gap is the complete daily range. This means that you will not find any further resistance level within a range that equals the daily range of the prior day. Narrow pivots are therefore much more practical. They will also plot levels at R4 = H + 3*(P-L) and S4 = L - 3*(H-P). J.F. Carter also uses narrow pivots (see his books pp. 134,135).

The SessionPivots indicator (link below) also uses narrow pivots (in line with eSignal).

http://www.ninjatrader-support2.com/vb/local_links.php?action=jump&catid=1&id=136

The pivots that come with NinjaTrader are wide pivots.

Why not try both and watch out, how they are being ignored by the markets? You also have the choice between day session pivots and 24-hour-session pivots, as both are used by traders. Do not forget the midline and the VWAP of the prior day. These will act as pivots as well!

hello Harry
for me the carter pivot it's that

Résistance 3 = R3 = P + (H - L)x2
Résistance 2 = R2 = P + (H - L) = P + (R1 - S1)
Résistance 1 = R1 = (P x 2) - L
Point Pivot = P = (H + L + C) / 3
Support 1 = S1 = (P x 2) - H
Support 2 = S2 = P - (H - L) = P - (R1 - S1)
Support 3 = S3 = P - (H - L)x2