Pivot Point Calculation

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Updated May 31, 2011

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Pivot Point Calculation

September 3rd, 2010, 12:20 PM

#11 (permalink)

Fat Tails

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Short explanation on narrow and wide pivots. I added the formula for wide pivots on your spreadsheet.

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
- [COLOR=#0000ff]https://www.sierrachart.com/support...hp/t-21832.html[/COLOR]
- [COLOR=#0000ff]http://www.earnforex.com/pivot_points_calculator.php[/COLOR]
- [COLOR=#0000ff]http://ezinearticles.com/?Forex:-Pi...Rules&id=446207[/COLOR]
- [COLOR=#0000ff]http://tradingsharesonline.com/articles.php?article=199[/COLOR]
- [COLOR=#0000ff]http://systems4trading.com/system,2...day-system.html[/COLOR]
- [COLOR=#0000ff]http://www.floorpivottrading.com/fl...vot-trading.htm[/COLOR]
- [COLOR=#0000ff]http://www.esignalcentral.com/excha...y_spotlight.asp[/COLOR]
- [COLOR=#0000ff]http://tradingthingys.com/PitPivotPoints.pdf[/COLOR]
- also used for Woodie's Pivots just with a different formula for the main pivot

Wide pivots:

- [COLOR=#0000ff]http://www.traderslaboratory.com/fo...ormulas-35.html[/COLOR]
- [COLOR=#0000ff]http://www.investopedia.com/article...intstrategy.asp[/COLOR]
- [COLOR=#0000ff]http://www.ninjatrader-support2.com...read.php?t=4676[/COLOR]
- [COLOR=#0000ff]http://www.mypivots.com/page.aspx?p...tcalculatorhelp[/COLOR]
- [COLOR=#0000ff]http://www.tralvex.com/pub/forex/pivots/index.htm[/COLOR]

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Elite Membership required to download: DailyPivots_Calculation.xlsx

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September 3rd, 2010, 03:55 PM	#12 (permalink)
trendisyourfriend Quebec Canada Legendary Market Wizard Experience: Intermediate Platform: NinjaTrader Broker: AMP/CQG Trading: ES, NQ, YM Frequency: Daily Duration: Minutes Posts: 4,580 since Oct 2009 Thanks Given: 4,266 Thanks Received: 6,199	Do you know if there is an indicator that can plot both wide and narrow pivots for NT6.5 ? Presently i am using CMIPivotsDaily_V75 but i can't set wide or narrow. By default, narrow is used.

September 3rd, 2010, 05:50 PM

#13 (permalink)

Fat Tails

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trendisyourfriend

Do you know if there is an indicator that can plot both wide and narrow pivots for NT6.5 ? Presently i am using CMIPivotsDaily_V75 but i can't set wide or narrow. By default, narrow is used.

I hate touching NT 6.5. again, otherwise it takes a few minutes to modify the indicator.

You could consider moving to NT 7.0, the SessionPivotsV23 indicator plots both wide and narrow pivots.

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September 4th, 2010, 05:21 AM

#14 (permalink)

Fat Tails

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Here is a special version for Yvan including wide pivots. Only use it with NinjaTrader 6.5.

For NinjaTrader 7.0 use SessionPivots from the appropriate download section.

Attached Files

Elite Membership required to download: SessionPivotsV86.zip

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September 4th, 2010, 05:12 PM

#15 (permalink)

trendisyourfriend

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Fat Tails

Here is a special version for Yvan including wide pivots. Only use it with NinjaTrader 6.5.

For NinjaTrader 7.0 use SessionPivots from the appropriate download section.

Thanks, can it plot both levels with one instance or do i need to use two instances to get wide and narrow pivots ?

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September 4th, 2010, 06:44 PM

#16 (permalink)

Fat Tails

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trendisyourfriend

Thanks, can it plot both levels with one instance or do i need to use two instances to get wide and narrow pivots ?

It either plots narrow or wide. But remember that the difference only shows on the levels S3 and S4. For many trading days this is irrelevant.

This is what you can do:

-> After a narrow range balancing day, deactivate midpivots and set the pivots to "wide".

-> After a trending day activate midpivots and set the pivots to "narrow".

Do not ask me to automate this.

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September 4th, 2010, 08:02 PM

#17 (permalink)

trendisyourfriend

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Fat Tails

It either plots narrow or wide. But remember that the difference only shows on the levels S3 and S4. For many trading days this is irrelevant.

This is what you can do:

-> After a narrow range balancing day, deactivate midpivots and set the pivots to "wide".

-> After a trending day activate midpivots and set the pivots to "narrow".

Do not ask me to automate this.

Interesting and logical. Nice tip. I'll proceed that way as it makes sense and it's a way to adapt to the current condition. To automate this action, it would need to detect yesterday range and make a decision accordingly.

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September 5th, 2010, 06:14 AM

#18 (permalink)

Fat Tails

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trendisyourfriend

Interesting and logical. Nice tip. I'll proceed that way as it makes sense and it's a way to adapt to the current condition. To automate this action, it would need to detect yesterday range and make a decision accordingly.

I have rapidly made the changes of the pivots indicator. Could you please test, whether it works properly?

I have not yet tested it myself, as I do not use NT 6.5. anymore. Thank you.

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September 5th, 2010, 07:01 AM

#19 (permalink)

jagui

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Fat Tails

Short explanation on narrow and wide pivots. I added the formula for wide pivots on your spreadsheet....

Thank you Fat Tails, I see you're growing...

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September 5th, 2010, 07:07 AM

#20 (permalink)

Fat Tails

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jagui

Thank you Fat Tails, I see you're growing...

Yep, putting on weight, need some exercise.

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