New Scripts

[Bob A.]

Pivot efs

Hi Chris,

Thanks for the formulas. P,R1,S1,R2,S2 are what I've been calculating but I wasn't aware of R3 or S3.

Last question (I promise): How are the MidPoint and the WAist calculated?

TIA and thanks for all your contributions.

Bob A.

[mbriand]

BUG in Pivot :

If you use pivot with other futures than ES and NQ for example ET M3-DT or AX M3-DT (Eurex), with a 5 days template, there is an error saying there is not enough data in chart and that I should edit my time template (btw the same one is used for ES and NQ and it works)...

[ckryza]

Bob:

No problem. MidPoint is (H+L)/2 and Waist is (O+C)/2.


Matt:

I tried the symbols you mentioned (with a variety of time templates using different #Day settings) and did not receive that error. In addition, I don't have a 'not enough bars' error in this particular script (I do in others), so I'm not sure where that is coming from.

Chris

[ckryza]

New version of Pivot Console script (V 1.2.0) has been uploaded to the File Share area. I added an ATR calculation and the R1/S1 Midpoint calculation. Documentation is at the top of the actual script.

Link to File Share:

http://share.esignal.com/groupconten...r=&groupid=114

Chris

PS: Matt B., I was starting to add the R2/S2 midpoint and R3/S3 midpoint but if you do the math, they will always be the same as the regular Pivot calculation.

[mbriand]

Chris,

Here are the midpoints formulas :

- PP/S1 = (PP+S1)/2
- PP/R1 = (PP+R1)/2
- S1/S2 = (S1+S2)/2
- R1/R2 = (R1+R2)/2
- S2/S3 = (S2+S3)/2
- R2/R3 = (R2+R3)/2

So it is never the same as the pivot point indeed, maybe I was not very clear in the 1st message.

Matt

[ckryza]

Matt:

Thanks. I will get those added in.

Chris

[mbriand]

I think the midpoint R1/S1 shouldn't be displayed, it should be the same as pivot no?

As for ATR thanks a lot. Can you display it a bit larger and bolder? Can you allow us to change the 14 period via the property box?

As for my problem, it now displays a new message : your frDaySize does not match your time template adjust & reload script when I try to use it on ET M3-DT (it seems to work apart from this message).

[ckryza]

Matt:

Here are the calcs I'm using for all of the various pivots. Based on these the R1/S1-MP would not be the same as the regular P (Pivot).

Pivot = (H+L+C)/3;
MidPoint = (H+L)/2;
Waist = (O+C)/2;
R1 = (2 * Pivot - L);
S1 = (2 * Pivot - H);
R2 = (Pivot - S1) + R1;
S2 = Pivot - (R1 - S1);
R3 = R2 + (H-L);
S3 = S2 - (H-L);
R1S1MP = (R1+S1)/2

ATR: Will do.

Error Message: That particular error message is from one of the Volume Profile scripts and not from the PivotConsole script. Either remove the VP script from the chart or edit the VP parameters to fix the problem.

Chris

[ckryza]

New version of Pivot Console script has been uploaded to the File Share area (V 1.3.0). Matt, I added all of the new midpoint calculations and, per Alexis, I changed the "true"/"false" settings to simply "T"/"F" so the script title takes up less space on top-left of screen. Also modified initialization code for start of new day. ATR settings are still in the script (e.g., not edit studies options) but I placed period, color and fontsize variables near the top of the script to make it an easy change.

Please review the documentation at the top of the script.

Link to File Share:


http://share.esignal.com/groupconten...r=&groupid=114

Chris

[mbriand]

Very very cool.

My last ideas, don't know if everybody will like it or not , was to include in the formula an intraday interval.

Instead of calculating pivot based on daily data, you can calculate pivot based on x mn bars where x is a global parameter with a default of 60 (hourly pivot). I looked at this application of pivot in the past and found it useful on some specific markets for scalping.
So for example the hourly pivot at 10am will be calculated using the h l c of the 9am 60mn bar.

But of course you could modify x and put 30mn to get 30mn pivot and so on...

The 2nd idea is an option to display the values for the past days instead of displaying all the pivot values only for the current day. The initial pivot formula which is available with eSignal displays pivot/R1/S1/R2/S2 on all the intraday history.

[ckryza]

Matt:

I'll go for idea #1 (I think it can be done fairly easily) but I will pass on #2. As you mentioned, there are already other scripts out there that perform the pivot calcs for prior days. My goal with this script was to reduce screen clutter as well as the load on the chart itself.

Chris

[ckryza]

Ok, Version 1.4.0 of the Pivot Console script is up in the File Share area. I added a new button (V) for Variable Pivot. The Variable Pivot option will calculate and plot the pivots for a user-defined intraday interval. The default interval is 60 (for a 60-min bar) but the length can be changed from within Edit Studies. The only requirement is that the selected interval must be greater than the interval you are displaying on your chart.

Please review the documentation at the top of the script.

Link to File Share:

http://share.esignal.com/groupconten...r=&groupid=114

Chris

[mbriand]

thanks for those changes.

What do you consider a 60mn bar ? I live in GMT+1 (Central European Time), when looking at ES #F with a V of 60 on a 10mn bar chart, right now at 0:50 it says the low is 908.50 (V.LO) but this low was not done on the previous 60mn bar (ie from 23:00 to 0:00) but at 21:40 so 3 hours ago (3 60mn bars ago) which is strange...

[ckryza]

Matt:

I see the problem. Will upload a fix tonight or tomorrow.

Chris

[ckryza]

Matt:

Version 1.4.1 of Pivot Console is up in the File Share. Should take care of the Variable Pivot calc problem.

Chris