Find Answers/MarketDelta Charts/General Forum

Answered

Why aren't Daily pivot points accurate

Trevor Harnett
asked this on April 15, 2010 07:28

The pivot point indicator doesn't seem to give the correct values. Simple formula (H+L+C)/3, but you can see from the attached chart, the PP is obviously incorrect. Not sure what I am doing wrong. Can you point me in the right direction?
 

Comments

User photo
Trevor Harnett
MarketDelta LLC
Ajax_loader_small Answer

Great question and one that I have taken the time to create the attached screenshot to show you how the preferences for the pivot indicator will need to be setup.

  • The chart needs to be setup for the day session override and not 24 hour data. 
  • Next, add the pivot indicator to the chart and use the settings as seen in the attached screenshot. 
  • Setting the indicator to look at 405 minutes of data uses the OHLC for the day session since you have the chart setup as day session only.  If you don't use 405 but instead use DAILY as the periodicity for the indicator will use the 24 hr OHLC.

Let us know if you have any further questions.


Make a great day, 
Trevor

July 01, 2010 15:22
User photo
Trevor Harnett
MarketDelta LLC
Ajax_loader_small Answer

Also, here is a link to the Pivot Point FAQ: http://support.marketdelta.com/entries/117419

July 01, 2010 15:24
Add a comment