Problem with PivotPointsAll2.efs

[erichigg]

Hello. I have an issue with the eSignal PivotPointsAll2.efs formula. It could be that I'm using it wrong, though I've followed the directions. the EFS I'm referencing can be found here:

Easy Pivots in EFS2

http://forum.esignalcentral.com/showthread.php?threadid=13386

I have successfully created a custom interval to reflect the NYC close time on my MST time zone charts. The pivot-day starts and ends at 14:00 (as it should for me in MST).

The actual pivot seems to be correct, but the support and resistance levels seem to be very far off... in the range of 10 pips in an example I was looking at yesterday. I trade spot Forex.

Pardon my ignorance here since I am no programmer. I simply checked the support and resistance levels with other 3rd party calculators, or printed pivot levels for the day at other 3rd party sites. I checked at least 4 places, and they all showed different levels than did the PivotPointsAll2.efs study.

Am I missing something? It seems as though the PivotPointsAll2.efs must be calculating pivot support and resistance differently than others are calculating it, or I am making some mistake. The actual pivot is correct, but the support and resistance levels differ. Please advise. I want to make sure I'm looking at pivots that the majority of other traders are using.

Thank you very much,
-Eric
Jesus Christ is God, and Good!

[ACM]

Eric
In order to try to determine what the issue could be you need to post a screenshot of the Time Template you are using and of the Study Properties showing the settings you have applied to the formula.
Alex

[erichigg]

Originally posted by Alexis C. Montenegro
Eric
In order to try to determine what the issue could be you need to post a screenshot of the Time Template you are using and of the Study Properties showing the settings you have applied to the formula.
Alex

Thank you for your reply. I've attached the Time Template, the pivot study settings, and a chart example in a .zip file for your review. The chart example uses EUR/USD as a reference. The bars are 10 minute increments.

It appears today that even the pivot is not matching up to what I calculate the be the correct pivot (high 1.3457 close 1.3429 low 1.3407. Pivot = 1.3431). Today's pivot appears at 1.3442 on the chart, a difference of 11 pips.

Am I doing something incorrectly? Please advise.

Thanks much,
-Eric

[ACM]

Eric
At this time it is not possible in eSignal to create an equivalent of a daily bar using a 1440 minutes interval. Consequently you cannot use that efs for this purpose
You will need to write a new script that keeps track of the plotted High, Low and Close for the defined period and then calculates the pivots and support/resistance lines based on those values. You may want to search through the forums as I believe there are already some scripts that do this.
Alex

[erichigg]

Originally posted by Alexis C. Montenegro
Eric
At this time it is not possible in eSignal to create an equivalent of a daily bar using a 1440 minutes interval. Consequently you cannot use that efs for this purpose
You will need to write a new script that keeps track of the plotted High, Low and Close for the defined period and then calculates the pivots and support/resistance lines based on those values. You may want to search through the forums as I believe there are already some scripts that do this.
Alex

I'm not sure I understand what you mean. Are you saying that even though the lines change visibly on the chart at the correct time (14:00 MST = 17:00 NYC time), that it's impossible to calculate the period?

That doesn't make any sense to me. In reading your reason for creating the PivotPoints2.efs, you altered the original for the purpose of allowing different timeframes, excluding holidays, and whatnot. Since all pvots are calculated off of 17:00 NYC time (EST/EDT), then from what you've said it would be impossible to produce any pivot calculation, even if your local time was also set to EST/EDT.

What is the purpose of this EFS then, if it is unable to calculate any pivot based on the New York close? As I understand, that is how everyone calculates it. Wouldn't you have the same problem if you were to try to use the PivotPointsAll2.efs for U.S. stock markets? Am I missing something here?

This response strongly leaves me with the impression there is a lack of desire to support this EFS, or at minimum to meet my needs as a customer. I don't need much, but pivots are one thing I do need.

As I have already said, I am not a programmer. I will not be able to write a new script as you have suggested. And as your support persons have said to me, EFS is only supported in the forums. So here I am in the forums.

I need to be able to plot pivots on my charts, based on the New York close, and I don't want to have to use a calculator and manually draw lines to do it. Does eSignal have a means for me to plot pivots based on 5pm EST, or no? If not, then in all honesty I'm going to need to look for another charting platform. Most disappointing. Please advise.

Thanks again,
-Eric

[ACM]

Eric

What is the purpose of this EFS then, if it is unable to calculate any pivot based on the New York close?

The main reason I wrote that efs was to to calculate pivots based on RTH (Regular Trading Hours) for those securities (such as for example the mini Russell or Dow futures) that did not have a specific RTH symbol (ie with an =2 extension such as the mini S&P or Nadaq futures). I believe I explained this in the first post of the thread you linked.
Regardless all the efs does is calculate the pivots based on the data for the user defined interval so if you are getting values that are different from what you are expecting you may want to plot a chart for that interval to verify that the underlying data matches what you want.

This response strongly leaves me with the impression there is a lack of desire to support this EFS, or at minimum to meet my needs as a customer.
As I have already said, I am not a programmer. I will not be able to write a new script as you have suggested. And as your support persons have said to me, EFS is only supported in the forums. So here I am in the forums.
I need to be able to plot pivots on my charts, based on the New York close, and I don't want to have to use a calculator and manually draw lines to do it. Does eSignal have a means for me to plot pivots based on 5pm EST, or no?

For your information I am not an employee of eSignal and I provided that efs as a personal courtesy to this community.
Also I do not do any custom development so if you are unable to program the script yourself and are not interested in learning or you are unwilling to search the forum [as I suggested earlier] then you may want to contact one of the EFS Consultants and have them develop it to your specific needs.
As to your question you can use the study basing it on daily data which in the case of Forex symbols is based on the 17:00 (EST) Open/Close (see this article on Forex in the eSignal KnowledgeBase).
Alex

[erichigg]

Originally posted by Alexis C. Montenegro
Eric



The main reason I wrote that efs was to to calculate pivots based on RTH (Regular Trading Hours) for those securities (such as for example the mini Russell or Dow futures) that did not have a specific RTH symbol (ie with an =2 extension such as the mini S&P or Nadaq futures). I believe I explained this in the first post of the thread you linked.
Regardless all the efs does is calculate the pivots based on the data for the user defined interval so if you are getting values that are different from what you are expecting you may want to plot a chart for that interval to verify that the underlying data matches what you want.



For your information I am not an employee of eSignal and I provided that efs as a personal courtesy to this community.
Also I do not do any custom development so if you are unable to program the script yourself and are not interested in learning or you are unwilling to search the forum [as I suggested earlier] then you may want to contact one of the EFS Consultants and have them develop it to your specific needs.
As to your question you can use the study basing it on daily data which in the case of Forex symbols is based on the 17:00 (EST) Open/Close (see this article on Forex in the eSignal KnowledgeBase).
Alex

I thought that since I was being sent here by eSignal employees, and since EFS files are provided with the product, that it was eSignal overseeing the support in the forums. My apologies for misunderstanding the role of the forums, and moderators.

It is unfortunate that eSignal doesn't provide a method to plot pivots on their charts (an analysis method that has existed for nearly 100 years) for the largest market in the world. Since I'm already paying for the product, I'm certainly not going to pay more for a basic study that seems to be included in other charting packages. Perhaps eSignal will someday "see the pivot", if you will.

Best regards,
-Eric

[ACM]

Eric

It is unfortunate that eSignal doesn't provide a method to plot pivots on their charts (an analysis method that has existed for nearly 100 years) for the largest market in the world.

Actually eSignal does provide several pivot studies which are included in the Pivots folder of Formulas.
Furthermore there are multiple versions and variations of the pivot studies already available in these forums [provided by eSignal and other users] including - as I mentioned in a previous reply - some that allow for user defined starting times.
Alex