Pivot points

[forextester]

Dear Mike,

hope you are best of health.

I need a weekly/monthly pivot points indicator. Since havent' written it yet so i would write it myself.

I studied your "Pivot Points" indicator which plots daily pivot points. I need help understanding the function Trunc().

Code: Select all

day := trunc(Time(index));


Why did you use this function. If it truncates the datetime variable then what does it output? If it only outputs "the Day" the could i use Dayof(time(i)) or Dateof(time(0)) instead?

Thanks and regards

[Terranin]

Dear Mike,

hope you are best of health.

I need a weekly/monthly pivot points indicator. Since havent' written it yet so i would write it myself.

I studied your "Pivot Points" indicator which plots daily pivot points. I need help understanding the function Trunc().

Code: Select all

day := trunc(Time(index));


Why did you use this function. If it truncates the datetime variable then what does it output? If it only outputs "the Day" the could i use Dayof(time(i)) or Dateof(time(0)) instead?

Thanks and regards

Yes, it could be. Just trunc is a little bit faster.

I am working on Pivot Points now, so it will be ready soon. You can try new version attached.

[forextester]

I am working on Pivot Points now, so it will be ready soon. You can try new version attached.

Thanks a lot Mike,

Since you are already working on the pivot points indicator, Please be kind enough to add the option of "Weekly, monthly pivots".

PS: The new version you attached is apparently the same. What modifications did you make?

regards

[Terranin]

I am working on Pivot Points now, so it will be ready soon. You can try new version attached.

Thanks a lot Mike,

Since you are already working on the pivot points indicator, Please be kind enough to add the option of "Weekly, monthly pivots".

PS: The new version you attached is apparently the same. What modifications did you make?

regards

It should work as weekly and monthly pivots if you place it on higher timeframes.

[forextester]

It should work as weekly and monthly pivots if you place it on higher timeframes.

[/quote]

works only upto 4hrs time frame and displays only upto daily pivots.
Doesn't show any output when applied to daily or weekly charts.

If there is problem on my end then please let me know.

I would appreciate if you could please provide the code as well for the new pivot points indicator which displays weekly, monthly pivots.

thanks and regards,

PS: how do onei make the weekly pivots visible on any other lesser time frame?

[Terranin]

It should work as weekly and monthly pivots if you place it on higher timeframes.

works only upto 4hrs time frame and displays only upto daily pivots.
Doesn't show any output when applied to daily or weekly charts.

If there is problem on my end then please let me know.

I would appreciate if you could please provide the code as well for the new pivot points indicator which displays weekly, monthly pivots.

thanks and regards,

PS: how do onei make the weekly pivots visible on any other lesser time frame?[/quote]

How did you install it? It works on my computer.

[Terranin]

Try new version attached, there is an option to choose pivot type - daily/weekly/monthly/yearly

[forextester]

Try new version attached, there is an option to choose pivot type - daily/weekly/monthly/yearly

it works perfectly. A job well done.

Thanks a lot Mike.

However when i manually calculated the points, they were absolutely wrong both daily and weekly.


The original pivot points indicator with the Forextester calculates the correct pivot points(daily) whereas the latest pivot points indicator attached above calculates false ones(both daily and weekly).

In the picture attached the old and correct indicator pivot line(PP) is Black, whereas the latest and false indicator line(PP) is red.

Please solve the problem and please post the code as well after you are done so we can benefit from it.

looking forward to your reply.

great work, regards

[Terranin]

I checked and it works correctly, see attached image. If you have your image with calculation I would like to see. On image Pivot Point is bold red line.

[forextester]

I checked and it works correctly, see attached image. If you have your image with calculation I would like to see. On image Pivot Point is bold red line.

After applying daily pivots, i move to daily chart where each candle contains all the data (its high, low and close) sufficient enough to calculate the next day's pivot point ie (high+low+close)/3. then i move to 1 hour chart and see whether the displayed and manually calculated pivots are the same.

after 23 weeks of correct daily pivot points, the latest indicator started giving erroneous results. As you will see in the 3 screen shots attached, there is huge difference between the correct and displayed pivot points. And as the chart moves ahead the gap between correct and displayed pivot points gets wider and wider.

I haven't tested the weekly pivots yet but suspect the gaps to get even wider than those by daily pivots.

looking forward to a solution soon.

regards

[forextester]

I couldn't add more than three screen shots. the attached archive contains all 4 vital screen shots to explain what i feel is the problem.

regards

[Terranin]

I couldn't add more than three screen shots. the attached archive contains all 4 vital screen shots to explain what i feel is the problem.

regards

On version 2 this indicator works correctly. I checked bars with your method and result is always correct.

[forextester]

On version 2 this indicator works correctly. I checked bars with your method and result is always correct.

heard great things about ver 2.0.

If you'd be kind enough to share the source code of this latest indicator, maybe i'll put in some time and adjust it to my needs and learn from it at the same time.

regards and thanks.
Sheraz

[Terranin]

On version 2 this indicator works correctly. I checked bars with your method and result is always correct.

heard great things about ver 2.0.

If you'd be kind enough to share the source code of this latest indicator, maybe i'll put in some time and adjust it to my needs and learn from it at the same time.

regards and thanks.
Sheraz

[forextester]

thanks Mike.