NexusFi: Find Your Edge


Home Menu

 





NTSvePivots Indicator - R3/S3 calculations wrong?


Discussion in NinjaTrader

Updated
    1. trending_up 647 views
    2. thumb_up 1 thanks given
    3. group 4 followers
    1. forum 6 posts
    2. attach_file 0 attachments




 
Search this Thread

NTSvePivots Indicator - R3/S3 calculations wrong?

  #1 (permalink)
 grzltn 
Melbourne, Australia
 
Experience: Intermediate
Platform: NinjaTrader8
Broker: NT Brokerage
Trading: Futures
Posts: 23 since Jul 2021
Thanks Given: 16
Thanks Received: 15

Hi All, just a sanity check please. This very nice indicator was written by Trader_Jim and given it has been out for some time I assumed all is well. I just did a retrospective on a big trade that did not go as planned and included some manual checks on this indicator and found that R2-R1-PP-S1-S2 all work fine but that R3 & S3 values in the indicator have the wrong values???

According to Sylvian sites it should be:

S3 = PP * 2 - ( PH * 2 - PL ) ;
R3 = PP * 2 + ( PH - PL * 2 ) ;

However the C# code has implemented in NTSvePivots (no version available):

s3 = pp - 2 * (currentHigh - currentLow);
r3 = pp + 2 * (currentHigh - currentLow);

If someone is using this indicator - can you please check and confirm my finding (and that I am not going nuts?).

Thanks, Lex

Started this thread Reply With Quote

Can you help answer these questions
from other members on NexusFi?
ZombieSqueeze
Platforms and Indicators
Better Renko Gaps
The Elite Circle
How to apply profiles
Traders Hideout
Pivot Indicator like the old SwingTemp by Big Mike
NinjaTrader
MC PL editor upgrade
MultiCharts
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Spoo-nalysis ES e-mini futures S&P 500
29 thanks
Just another trading journal: PA, Wyckoff & Trends
24 thanks
Tao te Trade: way of the WLD
24 thanks
Bigger Wins or Fewer Losses?
21 thanks
GFIs1 1 DAX trade per day journal
17 thanks
  #2 (permalink)
 hedgeplay 
Austin Texas / US
 
Experience: Intermediate
Frequency: Several times daily
Duration: Seconds
Posts: 176 since Dec 2019
Thanks Given: 145
Thanks Received: 211


grzltn View Post
I just did a retrospective on a big trade that did not go as planned and included some manual checks on this indicator and found that R2-R1-PP-S1-S2 all work fine but that R3 & S3 values in the indicator have the wrong values???

Greetings.

I am not surprised by the results you saw from that indicator.

I recommend a little different approach.

Personally to me starting with an indicator and fitting it / configuring it to an instrument feels like putting the cart before the horse.

If I were to be trading an instruments most repetitive rotations I would start by data mining that specific instrument's rotation history rather than using any pre-canned default values for R1-R2 etc.

Again, just personally, I do not ever start by assuming a specific indicator is a good fit for the signaling I seek, but spend time on indicators and designing systems as the last 15-20% of my time investment on an instrument I consider trading.

I start with learning that personality and habits of an instrument in depth ... really in depth ... nope, even more in depth than that and only afterwards chose or design signals specific to events I was to track specific to that instrument.


Good Luck. Enjoy the journey!

Hedge


Might enjoy this thread.


Reply With Quote
  #3 (permalink)
 
mewddsltd's Avatar
 mewddsltd 
Anthem, AZ
 
Experience: Intermediate
Platform: NinjaTrader8
Trading: Futures
Posts: 192 since Aug 2020
Thanks Given: 40
Thanks Received: 338


found two examples of the formulas for NTSve Pivots .. one on Think or Swim and the other on traders dot com ..

seems like these two sites have the same formulas for NTSVe Pivots ..
PP = (LastHigh + LastLow + PrClose) / 3;
R1 = (2*PP) - LastLow;
S1 = (2*PP) - LastHigh;
R2 = PP + (LastHigh - LastLow);
S2 = PP - (LastHigh - LastLow);
R3 = (2*PP) + (LastHigh - (2*LastLow));
S3 = (2*PP) - ((2* LastHigh) - LastLow);
PL = LastLow;

R1M = (R1-PP)/2 + PP;
S1M = (PP-S1)/2 + S1;
R2M = (R2-R1)/2 + R1;
S2M = (S1-S2)/2 + S2;
R3M = (R3-R2)/2 + R2;
S3M = (S2-S3)/2 + S3;
PH = LastHigh;

and you are right .. the NTSVe Pivot indicator I found has a different formula

if you have access to the NT8 editor .. you can go to line 238 and replace line 238 - 244 with this code .. if not, send me a DM and I will send you an indicator with this update

pp = (currentHigh + currentLow + currentClose) / 3;
s1 = 2 * pp - currentHigh;
r1 = 2 * pp - currentLow;
s2 = pp - (currentHigh - currentLow);
r2 = pp + (currentHigh - currentLow);
s3 = (2*pp) - ((2* currentHigh) - currentLow);
r3 = (2*pp) + (currentHigh - (2*currentLow));

that should get you consistent with the original formula for SVe Pivots

or just go with @FatTails pivot indicator .. which can be found here ..

I agree with @hedgeplay .. you can curve fit an indicator all day .. just to start the process again tomorrow .. you need to know the persona of the underlying asset and you gotta be able to read the current price action ..

.. you don't have to be the first one at the party .. just be part of the party ..
Reply With Quote
Thanked by:
  #4 (permalink)
 grzltn 
Melbourne, Australia
 
Experience: Intermediate
Platform: NinjaTrader8
Broker: NT Brokerage
Trading: Futures
Posts: 23 since Jul 2021
Thanks Given: 16
Thanks Received: 15


hedgeplay View Post
Greetings.

I am not surprised by the results you saw from that indicator.

I recommend a little different approach.

Personally to me starting with an indicator and fitting it / configuring it to an instrument feels like putting the cart before the horse.

If I were to be trading an instruments most repetitive rotations I would start by data mining that specific instrument's rotation history rather than using any pre-canned default values for R1-R2 etc.

Again, just personally, I do not ever start by assuming a specific indicator is a good fit for the signaling I seek, but spend time on indicators and designing systems as the last 15-20% of my time investment on an instrument I consider trading.

I start with learning that personality and habits of an instrument in depth ... really in depth ... nope, even more in depth than that and only afterwards chose or design signals specific to events I was to track specific to that instrument.


Good Luck. Enjoy the journey!

Hedge

Might enjoy this thread.




Thanks Hedge,

I am not disagreeing and my trading style does not use traditional indicators other than my own. Having said this, one of the exceptions is my use of the Sylvian Vervoort pivots on the oil market as it seems to have become a self-fulfilling prophesy. I just about could trade oil just using those pivots mixed with form reading for confirmation (but I don't and have more tricks in the bag).

Warmest,

Lex

Started this thread Reply With Quote
  #5 (permalink)
 hedgeplay 
Austin Texas / US
 
Experience: Intermediate
Frequency: Several times daily
Duration: Seconds
Posts: 176 since Dec 2019
Thanks Given: 145
Thanks Received: 211


grzltn View Post
Thanks Hedge,

I am not disagreeing and my trading style does not use traditional indicators other than my own. Having said this, one of the exceptions is my use of the Sylvian Vervoort pivots on the oil market as it seems to have become a self-fulfilling prophesy. I just about could trade oil just using those pivots mixed with form reading for confirmation (but I don't and have more tricks in the bag).

Warmest,

Lex

Very good. Keep rolling.

Reply With Quote
  #6 (permalink)
 grzltn 
Melbourne, Australia
 
Experience: Intermediate
Platform: NinjaTrader8
Broker: NT Brokerage
Trading: Futures
Posts: 23 since Jul 2021
Thanks Given: 16
Thanks Received: 15


mewddsltd View Post
found two examples of the formulas for NTSve Pivots .. one on Think or Swim and the other on traders dot com ..

seems like these two sites have the same formulas for NTSVe Pivots ..
PP = (LastHigh + LastLow + PrClose) / 3;
R1 = (2*PP) - LastLow;
S1 = (2*PP) - LastHigh;
R2 = PP + (LastHigh - LastLow);
S2 = PP - (LastHigh - LastLow);
R3 = (2*PP) + (LastHigh - (2*LastLow));
S3 = (2*PP) - ((2* LastHigh) - LastLow);
PL = LastLow;

...<snip>

Just confirming the above code change is correct and works fine.

Thanks @mewddsltd !

Started this thread Reply With Quote
  #7 (permalink)
 
mewddsltd's Avatar
 mewddsltd 
Anthem, AZ
 
Experience: Intermediate
Platform: NinjaTrader8
Trading: Futures
Posts: 192 since Aug 2020
Thanks Given: 40
Thanks Received: 338

@grzltn

glad it works ..

.. you don't have to be the first one at the party .. just be part of the party ..
Reply With Quote




Last Updated on May 24, 2023


© 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