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the attached image has 3 vertical lines .. the dark orange represents the beginning of the Australian / Asian market .. the yellow line is the beginning of the European / GBP market .. and the green is the US market
the S&P500 ETF (SPY) does not trade during the Aus/Asia market .. if the ES/MES trends during the Aus/Asian market the SPY will gap up/down when the Euro/GBP market opens to "catch up"
when the US market opens there is a high probability the ES/MES price will move in the appropriate direction to "fill the gap" .. some say the likelihood is 90%
I used the amaOpeningRange indicator and set the Pre-Session time for Chart-Time and then the ending time to the beginning of the new session (new day) to the beginning of the Euro/GBP session .. this give me a reasonable representation of the range of the Aus/Asian session .. this should correlate to the SPY gap ..
I used the NT8 PriorOHLC indicator to show the previous close
at the open, the ES price action did almost exactly as was predicted 15 minutes before the market opened ..
this strategy is not 100% .. some say it has an 85% - 90% likelihood of success
I used the second part of the amaOpeningRange .. the OpeningRange .. to show the high-low range of the first 15 minutes .. didn't mean anything today but many times that area will prove to be a magnet, support, or resistance
and I want to show how the same strategy worked on MNQ this AM .. but will continue testing ..
23 05 17 MES b
.. you don't have to be the first one at the party .. just be part of the party ..
Very interesting, thanks for sharing! I don't trade the open as much anymore, I keep these in mind for when I do. In the past I also used orb-15, it works well. The support/range area from it is something I used in the past as well. I never thought about the gap fill of US in relation to globex, interesting... ill keep my eye on that.
got back from time with friends and grocery shopping .. was bored .. and this is where I can get in trouble ..
connected NT8 to datafeed and thought I saw some movement .. made sure all Replikanto buttons were set .. and placed a trade .. made some more $$ .. got my groceries paid for ..
23 05 18 fw
.. you don't have to be the first one at the party .. just be part of the party ..
had a nice profit going just after the market opened .. < image 23 05 19a.fw >
maybe the market will trend later but the early part of the day seemed choppy .. NQ went sideways for several bars at the open and ES only had 4 bars for the first 30 minutes of the market so I went into protect mode .. and by protect mode I mean "I'm done" mode .. it was still a good day .. < image 23 05 19.fw >
overall it has been a good week .. good way to start the weekend .. .. < image 23 05 19b.fw >
the buttons to the right of my price chart(s) are part of a strategy .. some of my trading rules are built into the buttons .. 1) when to trade 2) don't overtrade 3) avoid countertrend trades .. there are other criteria like moving averages, slope, and trend lines that are also calculated as part of the strategy but I don't include them in whether to place a trade or not .. a trade will be placed if the trade criteria is met otherwise a message will be displayed saying the trade criteria were not met (see the lower left corner of price chart..
23 05 19a.fw
23 05 19b.fw
23 05 19.fw
.. you don't have to be the first one at the party .. just be part of the party ..
Does anyone besides me notice the value for Y-Close in the indicator amaPivotsDaily does not accurately display the previous day's close .. the Y-High and Y-Low values seem accurate
want to say Y-Close is off most, and probably every day .. many of the days by just a little bit .. but there are days when it is off a substantial amount .. as can be seen in the images of recent days .. the thick blue (dashed) line is "Prior-Close" from the NT8 indicator PriorOHLC ..
23 05 14 PriorClose
23 05 17 PriorClose
23 05 19 PriorClose
.. you don't have to be the first one at the party .. just be part of the party ..
I just moved your post about the indicator amaPivotsDaily from the "Ask Me Anything (AMA) with Raymond Deux (Founder of NinjaTrader)" thread, which is for questions directed to NinjaTrader, to this one.
The amaPivotsDaily indicator was created by , a futures.io member who has written many custom indicators, and it is not the responsibility of NinjaTrader to address any issues that have come up.
Since you've posted extensively here, this thread seemed to be the best choice for it.
I hope you are successful in getting any issues addressed.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
The amaPivotsDaily indicator is mainly designed to display floor pivots and other variations such as wide pivots, Jackson Zones and Fibonacci pivots. Floor traders have always calculated pivots from daily data readily available. Originally, daily data published by the exchanges referred to the regular session high, the regular session low and the settlement price. When the exchange floors were closed, habits changed and contract specifications for futures now refer to the full session. Therefore, pivots are calculated from
- the full session high
- the full session low
- the settlement price (please check contract specifications for settlement times)
This is also what you will see when you open a daily chart.
I understand that you were charting NQ 06-23 for May 14, May 17 and May 19 (your charts attached, unfortunately with price markers deactivated, so that prices cannot be checked).
Looking at a daily chart for NQ 06-23 I am retrieving the following settlement prices
- May 12: 13396.25
- May 16: 13483.25
- May 18: 13894.00
This is exactly what the indicator displays with Input data = Daily Bars. Perfect match.
By the way you may also use this indicator with incompatible Renko Bars that display false highs and lows, as it calculates pivots from daily data.
Broke the daily loss limit rule, thought I was on to something solid. I got chopped out, could of walked away with some green, but wanted to hold for t/p. I didn't set B/E, thought it could recover. After having three losers in a row and breaking my DDL rule, I shut down everything.
I'm still letting my emotions get to me when I'm wrong. I need to focus on that next week.
thank you so much for the explanation .. I knew the answer was probably simple .. I just did not know where to look ..
I followed along with your explanation and sure enough .. the difference I was seeing between the NT8 PriorOHLC and amaPivotsDaily (Y-Close) _ was apparent when I viewed my chart with daily bars
Thanks for sharing your knowledge, skills, and indicators .. you are greatly appreciated ..
.. you don't have to be the first one at the party .. just be part of the party ..