Pivot indicators - page 42
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I got some spare time so managed to get this done it uses arrow code for the levels which are
3 = Small arrows
4 = small short lines
6 = Price boxes
pivots_gmtshift.mq4CJA - You are genius!
Thats very kind of you.
Wish you many green pips.
Here you go - you will find i have added a few extra features so you can alter the colors and shift the text etc
27/05/2007
I Have altered the original indicator and added the M Levels, I have left the name the same as the indicator still does everything the same as the original but with the option of displaying the M levels, when you save the indicator if you have the original just either save over the top or if you want to retain the original indicator just change the name when you save it.
cja
pivot-point-vtext.mq4
hi cja, i'm looking for something exactly like this. can you add an option to shift the time?
Thank dimaxx, thanks cja
Thanks dimaxx for your effort. In this topic, you made it alive again.
And thanks cja for adjusting his own indicator.
Best to both of you,
Jay
hi, CJA
My other 2 indis show pivot 145.24, Pivot Gmt shift shows144.22,
do you know what reason?
btw: I use them on GBPJPY chart.
I got some spare time so managed to get this done it uses arrow code for the levels which are
3 = Small arrows
4 = small short lines
6 = Price boxes
CJA,
Is there another indicator with this, I only get a horizontal line when I add the indicator, even though I enter the hour timings?
Can be Sunday data
hi, CJA
My other 2 indis show pivot 145.24, Pivot Gmt shift shows144.22,
do you know what reason?
btw: I use them on GBPJPY chart.Hey winnn,
Can be sunday data.....i think cja indicator treat sunday as a regular day, thats why it take sundays HLC when you shift it....
Correct Pivots
Hey there!
My question is what the "correct" pivots are, which are being used by industrial traders? Pivots are formed based on daily data, and interestingly, every pivot calc service I checked showed different results (dukascopy, allpivots, mataf.net, etc) - why is that? I presume, that it must be because different GMT settings - but then again: who is "right" (not in the literal sense of course)?
What time is widely accepted as "daily close" by the big players? I presume it's the US session close (same time when futures trading closes).
So?
Re Pivot Calculator
Here is the code for mt4....
//---- Pivot Setup ----
double rates[1][6],yesterday_volume,yesterday_close,yesterday_high,yesterday_low,yesterday_open;
ArrayCopyRates(rates, Symbol(), PERIOD_D1);
if(DayOfWeek() == 1)
{
if(TimeDayOfWeek(iTime(Symbol(),PERIOD_D1,1)) == 5)
{
yesterday_close = rates[1][4];
yesterday_high = rates[1][3];
yesterday_low = rates[1][2];
yesterday_open = rates[1][1];
}
else
{
for(int d = 5;d>=0;d--)
{
if(TimeDayOfWeek(iTime(Symbol(),PERIOD_D1,d)) == 5)
{
yesterday_volume = rates[d][5];
yesterday_close = rates[d][4];
yesterday_high = rates[d][3];
yesterday_low = rates[d][2];
yesterday_open = rates[d][1];
}
}
}
}
else
{
yesterday_volume = rates[1][5];
yesterday_close = rates[1][4];
yesterday_high = rates[1][3];
yesterday_low = rates[1][2];
yesterday_open = rates[1][1];
}
//---- Calculate Pivots ----
double R = yesterday_high - yesterday_low;//range
double p = (yesterday_high + yesterday_low + yesterday_close)/3;// Standard Pivot
double r3 = (2*p)+(yesterday_high-(2*yesterday_low));// Resistance 3
double r2 = p+(yesterday_high - yesterday_low);// Resistance point 2
double r1 = (2*p)-yesterday_low;// Resistance point 1
double s1 = (2*p)-yesterday_high;// Support point 1
double s2 = p-(yesterday_high - yesterday_low);// Support point 2
double s3 = (2*p)-((2* yesterday_high)-yesterday_low);// Support point 3
//Pivot, Support & Resistance Lines
ObjectDelete("p_Line");
ObjectCreate("p_Line", OBJ_HLINE,0, CurTime(),p);
ObjectSet("p_Line",OBJPROP_COLOR,Silver);
ObjectSet("p_Line",OBJPROP_STYLE,STYLE_SOLID);
ObjectSet("p_Line",OBJPROP_WIDTH,3);
ObjectDelete("r1_Line");
ObjectCreate("r1_Line", OBJ_HLINE,0, CurTime(),r1);
ObjectSet("r1_Line",OBJPROP_COLOR,Silver);
ObjectSet("r1_Line",OBJPROP_STYLE,STYLE_SOLID);
ObjectSet("r1_Line",OBJPROP_WIDTH,3);
ObjectDelete("r2_Line");
ObjectCreate("r2_Line", OBJ_HLINE,0, CurTime(),r2);
ObjectSet("r2_Line",OBJPROP_COLOR,Silver);
ObjectSet("r2_Line",OBJPROP_STYLE,STYLE_SOLID);
ObjectSet("r2_Line",OBJPROP_WIDTH,3);
ObjectDelete("r3_Line");
ObjectCreate("r3_Line", OBJ_HLINE,0, CurTime(),r3);
ObjectSet("r3_Line",OBJPROP_COLOR,Silver);
ObjectSet("r3_Line",OBJPROP_STYLE,STYLE_SOLID);
ObjectSet("r3_Line",OBJPROP_WIDTH,3);
ObjectDelete("s1_Line");
ObjectCreate("s1_Line", OBJ_HLINE,0, CurTime(),s1);
ObjectSet("s1_Line",OBJPROP_COLOR,Silver);
ObjectSet("s1_Line",OBJPROP_STYLE,STYLE_SOLID);
ObjectSet("s1_Line",OBJPROP_WIDTH,3);
ObjectDelete("s2_Line");
ObjectCreate("s2_Line", OBJ_HLINE,0, CurTime(),s2);
ObjectSet("s2_Line",OBJPROP_COLOR,Silver);
ObjectSet("s2_Line",OBJPROP_STYLE,STYLE_SOLID);
ObjectSet("s2_Line",OBJPROP_WIDTH,3);
ObjectDelete("s3_Line");
ObjectCreate("s3_Line", OBJ_HLINE,0, CurTime(),s3);
ObjectSet("s3_Line",OBJPROP_COLOR,Silver);
ObjectSet("s3_Line",OBJPROP_STYLE,STYLE_SOLID);
ObjectSet("s3_Line",OBJPROP_WIDTH,3);
ObjectsRedraw();
//R3 Label
if(ObjectFind("R3 label") != 0)
{
ObjectCreate("R3 label", OBJ_TEXT, 0, Time[3], r3);
ObjectSetText("R3 label", " R3 ", 9, "Verdana", Silver);
}
else
{
ObjectMove("R3 label", 0, Time[3], r3);
}
//S3 Label
if(ObjectFind("S3 label") != 0)
{
ObjectCreate("S3 label", OBJ_TEXT, 0, Time[3], s3);
ObjectSetText("S3 label", " S3 ", 9, "Verdana", Silver);
}
else
{
ObjectMove("S3 label", 0, Time[3], s3);
}
//R2 Label
if(ObjectFind("R2 label") != 0)
{
ObjectCreate("R2 label", OBJ_TEXT, 0, Time[3], r2);
ObjectSetText("R2 label", " R2 ", 9, "Verdana", Silver);
}
else
{
ObjectMove("R2 label", 0, Time[3], r2);
}
//S2 Label
if(ObjectFind("S2 label") != 0)
{
ObjectCreate("S2 label", OBJ_TEXT, 0, Time[3], s2);
ObjectSetText("S2 label", " S2 ", 9, "Verdana", Silver);
}
else
{
ObjectMove("S2 label", 0, Time[3], s2);
}
//R1 Label
if(ObjectFind("R1 label") != 0)
{
ObjectCreate("R1 label", OBJ_TEXT, 0, Time[3], r1);
ObjectSetText("R1 label", " R1 ", 9, "Verdana", Silver);
}
else
{
ObjectMove("R1 label", 0, Time[3], r1);
}
//S1 Label
if(ObjectFind("S1 label") != 0)
{
ObjectCreate("S1 label", OBJ_TEXT, 0, Time[3], s1);
ObjectSetText("S1 label", " S1 ", 9, "Verdana", Silver);
}
else
{
ObjectMove("S1 label", 0, Time[3], s1);
}
//Pivot Label
if(ObjectFind("P label") != 0)
{
ObjectCreate("P label", OBJ_TEXT, 0, Time[3], p);
ObjectSetText("P label", " Pivot ", 9, "Verdana", Silver);
}
else
{
ObjectMove("P label", 0, Time[3], p);
}
//End of code
Xard777
PS If you look at piccy you will see the pivot lines based on thursdays High,Low & Close
Enclosed pivot calculator mt4 indicator
I'd love to know about what danih's asking as well. The server time issue throws off practically all of these pivot indis, and yet almost none of them provide time shift options.
After migrating my indicators from Broco to MB and getting these attached results, I was quite flabbergasted. Even worse: depending on how you tilt your head and squint, either one of them could look valid!
Is there a right answer here?
What time to use as END OF DAY for calculating pivot points?
Hello everyone,
I am thinking about using pivot points in my trading but not sure what time to use as END OF DAY for calculating pivot points.
fxbootcamp.com uses Tokyo open (which is usually London midnight)
fxknight.com uses GMT midnight
theforextruth.com uses New York midnight
fivetictrading.com uses New York 5PM
They all claim to be successful, profitable traders. How can that be? How can they all use pivot points successfully when they are all looking at different pivot point values?
If you are successfully using pivot points in your trading, could you please tell me what time you use as END OF DAY for calculating pivot points, and why you chose just that time?
Thanks,
Herringtrader