Pivot Points Question

[Trader273]

I was wondering if it would be possible to plot the pivot point and the associated support and resistance of one symbol onto another. Since that was about as clear as mud, I will explain further. Currently I trade e-mini's, more specifically the nasdaq and s&p. Lately, I have noticed that the Pivot Points of the QQQQ's and SPY have worked nicely on the respective e-mini. For instance, I have a chart of the QQQQ's with the pivot points and s/r, and a chart of the Nasdaq Mini. I would have both these charts up to see when the QQQQ's got to a resitance and trade the mini. It would be much easier if I could have the QQQQ's pivot points overlayed on the Nasdaq Mini. I'm not sure if this could be done since the pricing of the two are totally different. If anyone has ideas, questions, or anything feel free to post them here.

Thanks in advance,
Nick

[DuaneG]

Hi Nick,

I'm not sure if this will perform to your expectations, but here is how I set this up.

I first opened an Advanced Chart of QQQQ on a 15 minute interval, (any intraday interval should work just as well). I then applied PivotPointAll.efs to the chart. Now, overlay the symbol NQ #F on top of this chart. Through the edit studies menu, change the symbol QQQQ chart to a line chart and make the line color match that of the chart background. This basically makes the QQQQ data disappear as it is the same color as the chart background.

Once that is done, you will have the pivots of QQQQ interacting with NQ #F. Here is a screenshot of how it looks. Notice that the pivot levels are still set up to the respective QQQQ levels.

Here is how it should appear...Hope this helps.

[Trader273]

Duane,
Thanks for the response. That is what I was looking for. I just have one more question. Is there a way to assign a sound to the different levels. Such as a ding.wav for the pivot point. I tried doing this myself, but with no such luck. If you, or anyone else, has an idea that would be great.

Thanks in advance,
Nick

[eSignal_JasonK]

Hello Nick,

You might want to take a look at our library formula, AlertOncePerBar.efs. This will show you an example of how to code an alert once per bar interval. In the code example, you would assign close(0) to the vData1 variable and the pivot point variables from PivotPointAll.efs in place of the vData2 variable. Try incorporating this routine into your custom pivot point study. If you run into some trouble, post your code.

[Trader273]

Thank you for the response. I will look more at it later. I just had one other question. In the beginning of the day, the pivots and associated support and resistance are very small lines. Is there anyway to extended those lines out? Kind of when you draw a horizontal line, it just keeps going. I searched around here, but without any luck. Any suggestions would be greatly appreciated.

-Nick

[eSignal_JasonK]

Hello Nick,

Try the drawLineRelative() function. You could also use the line tools under the "Lines" menu.

[Trader273]

I am not exactly well versed in EFS, where would I put the function the drawLineRelative() function in this code if I wanted all the lines to extend outward. Thanks for any help!

Nick

[ACM]

Nick
You would add the drawLineRelative() functions just above the return statement.
As you write the command it will automatically provide you with the hints for each parameter (as shown in the image below)
nX1 and nX2 represent the X-Axis coordinates so you would start the line at 0 (ie the current bar) and end it for example at 20 (ie 20 bars into the future) or any other value of your choice.
The Y-Axis coordinates instead are dY1 and dY2 and for those you would use the relative Pivot (ie vPP, vR1, etc).
As sTagName use a unque string for each drawLineRelative function ie "pivot" "upper1", etc.
The remaining parameters should be self explanatory
Alex

[Trader273]

Thank you very much. That was exactly what I was looking for. Would there be a way to only allow pivots for the current day. The reason I ask is that when I changed the amount of forward bars, I get an overlap from the previous day and the current day. If this is not possible That is ok, I could have 2 versions of the Pivot Points, One with how it was originally constructed and one with the modified..

Thanks for any suggestions.

Nick

[ACM]

Nick
I don't see how there can be an overlap between the previous and current day if you are drawing the line forward. Make sure you did not use negative values for nX1 and/or nX2.
Alex

[Trader273]

I accidently had the forward bars going 150, instead of 15. So on a 5 minuted chart, say the Resistance1 on monday was going 150 bars ahead, which was the next day. Even though that resistance was no longer valid, it still appeared as it was. Switching the # to 15 solved that problem. Thanks again for all your help!


Nick

[Trader273]

Still having a little problem with the pivot points that go into the future by 10 bars. Before the opening of the market it still shows the pivots from the previous day. I was wondering if there is a way to only have the pivots for the current day and have no historical pivot points. I think that would solve my problem completely.

Thanks
Nick

[ACM]

Nick
That will not solve the problem because the current day's pivots will not be calculated until the market opens ie until the current daily bar forms.
The solution to what you are trying to accomplish is different and one way of doing it is shown in this thread
Alex

[Trader273]

Alex,
Once again, that worked exactly how I wanted it to. Thank you for all your help and patience.


Nick

[James 88]

Hi

Is it possible to ONLY display the current day's pivots. Could I edit the efs to achieve this?

Rgds, James