Automatic pivot points
With VT new release that included some time functions it was possible to code this. The formula for the Pivot points are the traditional ones which JR97 has coded up. And I was able to get what I believe it's the proper timing. I have included the option of telling VT at what time you would like to calculations to begin. The default is 1700 hrs. but you can change this to midnight by putting in 00 hours. They will not work on the one minute and tick chart, I believe this is a back data issue there isn't enough of it.

Please download the file that is 1.37 Kb

Hi Claude,

I would like to try your auto Pivot Piont Indicator. Would you please let me know how to add this one to VTtrander. I am new to this package.

Many thanks in advance.

Regards, Tony
Tony.du@yahoo.com

Hello,

You need to download this indicator to your PC first... just click the download link in the right-hand side of the table in Claude's post. Once saved to your PC, do not attempt to open the file. Instead, open VTtrader and use Navigator Window>Tools>Indicator Builder>Import button to import the indicator. Next, you will see the indicator name show up in your indicator listing. You can now add the indicator to your chart like any other indicator. Be sure to edit the input parameters of the indicator when you are adding it to the chart if you wish to change the start time (hour/minute) and the amount of levels displayed. Click 'ok' and it should display on your chart. A word of caution, if you have the "autosize vertically" option enabled on your chart, the pivot indicator may shrink your chart in order to display all pivot lines within your chart window; if you wish for this not to happen, just disable the autosize vertically option for the chart you are adding the indicator to.

Regards,
Chris

hello

anyone can define and help with this pivot points indicator??

what are the yellow lines named rm1,rm2,sm1 and sm2??
support-lines and resistance-lines?? but if so what is then lines support1/2 and resistance1/2 ??


thanks for help

begu

Hello,

the rm1, rm2, etc. lines are middle lines. Peter Bain's method of trading pivot points refers to the use of midlines quite often. Try a quick Google® search for additional information.

Regards,
Chris

Claude, nice work.
To complete the main vars with both an open and today's open, following your vars, what change is needed here for today's open?



sonicfx

Hi do we use your pivot points in conjuction with chart patterns and can we change the color of the lines

Hello sonicFX

I believe what you are asking is. How the formula could reference yesterdays opene and today's opening. To get today's open I believe you have the formula correct. To get yesterdays opened I am posting the code with it broken down.

Be:=if(Hour()=HO and Minute()=Mi,1,0);

chartti:=If(be=1,(Ref(BarsSince(be=1),-1)),0);
charttim:=ValueWhen(1,chartti>0,chartti);

{yesterday Close}
Cl:=if(Be=1,Close,0);
CLO:=ValueWhen(1,Cl>0,Cl);

{today's Open}
Op:=if(Be=1 ,Open,0);
Ope:=ValueWhen(1,Op>0,Op);

{yesterday Hight}
Hi:=if(Be=1,HHV(H,charttim),0);
Hig:=ValueWhen(1,Hi>0,Hi);

{yesterday Low}
LO:=if(Be=1,LLV(L,charttim),0);
Lo1:=ValueWhen(1,LO>0,LO);

{yesterday Open}
YOp:=if(Be=1,Ref(O,-charttim),0);
YOpe:=ValueWhen(1,YOp>0,YOp);

barsHigh:=Hig;
barsLow:=Lo1;
barsClose:=Clo;
barsYOpen:=YOpe;

Claude, thanks for the help, it is greatly appreciated.
I have some confusion, though. I guess I'm misunderstanding something, but the "today's Open" is the same coding as "yesterday's Close", whereas "yesterday's Open" is different from the others. I guess what I'm asking, "today's Open" actually yesterday's Open, and "yesterday's Open" is something else or maybe the same thing?

P.S.
I'm learning the language, so please forgive me if/when I ask these type of questions.
sonicfx

Hello sonicfx
if you put a vertical line exactly where the day starts on a 10 minute chart the formula was considering this candle the last candle of the day and taking the close of that candle to calculate the pivot's. If you would like to consider this candle the first candle of the new day and the candle to the left would become the close of yesterday. And the formula would have to change to this.

Cl:=if(Be=1,Ref(C,-1),0);

After giving it some thought perhaps this was the best. I will change it and re post the pivot points. Keep those questions coming they help.

If you would like to see exactly what level's the formula is referencing the best way to do this would be visually. Just take the coding that supposed above and make.

barsHigh
barsLow
barsClose
barsYOpen
those outputs just make them projected line and then you will see exactly what they are referencing.

Claude, this seems to be correct checking it against some copy prices, but have a look at the daily with this output test. It "looks" like that barsOpen is actually yesterday's open and barsYopen is doing it's own thing. Maybe the barsOpen only "looks" right during the current day. Or it could be just right now as VT is showing 2 candles for today 5-8!

For everyone this is not an indicator, just an output test.

Looking at the current time, it looks right.

Claude, here are some stats that may or may not be useful, and would need to be verified. I was checking against regular calculations.
'Yes' being price displayed correctly in inspector alias and
'No' not being correct.
AP1 was your first post and AP2 is 2nd 1.37 Kb.

AP1
10 no
15 no
30 no
60 no
daily yes

AP2
10 no
15 no
30 yes
60 yes
daily no

Hello
the daily not being correct any longer is making sense. Since the code looks back 24 hours and we have changed the coding to look at the candle to the left of this,to get the close of yesterday on all the other smaller time scales this would work. But on the daily it looks back an entire day one candle equals 24 hours. Not being correct on 10 minutes in the 15 minute I believe it's because of the strange looking little candles that VT posted during the weekend. For the coding to do the correct calculation on the one day scale it will have to get a little fancier. The code it would have to recognize the fact that it is on the one-day scale and then do the old calculation.(AP1)

Has anyone taking Peter Bains course live or by buying of the CD is it very helpful

Hello,

Since I believe Peter Bain does discuss pivots in his methodology I'll allow your post here Pacholonu, however it is very close to "off topic" for these boards.

For people wishing to response, please try and keep your response in context of this topic. Thank you.

Regards,
Chris

I have a general question on using pivot points I'm hoping someone can answer to make sure I am setting the time correctly. When using the auto pivots, let's say I want to trade during the U.S. session. What time is appropriate to input for the time variable? Should I put in 0, 17, or 8 since the U.S. sessions begins at 8:00 a.m?

Thanks for the response. I want to make sure I am setting up the auto pivot points correctly because this is an indicator that is definitely worth utilizing.

Just a follow up. It seems some days either ap1 or ap2 may be correct, depending on what TF is used.
sonicfx

Claude,

Can you please kindly specify what time intervals (5, 10, 15, 60…) we should select on VT charts in order to use your Auto Pivots indicator (your updated one with 1.37K)?

Hello
I programmed the indicator so that it would recognize what time scale that it is on. It should work fine on the one-hour half-hour 15 minute 10 minutes and the five when there is enough back data the one minute does not. Personally I trade the 15 minute chart not too fast not to slow. There are many different strategies for trading pivot. So just do a quick search and I'm sure you'll find plenty to read.

Have fun

Claude,

Thanks for your responses. Is it possible for weekly PP to be genereated on hourly VT chart? I guess you may not have enough back data for this.

thanks very much
TLD

How can I plot weekly and monthly piviots on one Hour chart reply is needed urgently

when i try to set the autopivot indicator on the chart i get the message-

-Error in studies compilation with message"Undeclared identifier:HOUR"-

what means this and what should i do now?

Hello,

onu: What version of VTtrader are you running? You should be running the latest version - VTtrader 1.6 build 2005060300.

Regards,
Chris

I am having trouble with this indicator. It overheats my processer. I have a pentium 4 2.4ghz and 1 gig memory, so it is not due to capacity. Perhaps we need the ability to choose number of past days included. Please e-mail if you have a solution. Patrick_Rhodes@msn.com

Hello,

In the newest version of VTtrader there is an auto-update pivot point indicator that I coded that works well. Please use that one instead of this one.

Regards,
Chris