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New Time-Adjustable Daily Pivots Indicator for MT4

  • #21
  • Aug 23, 2006 4:24pm Aug 23, 2006 4:24pm
Quoting bundyraider
New version...

...much, much faster. Totally different beast now.

Took less work than I thought it might.

HAD to change it. Was finding the wait annoying when switching between charts.

Takes mine 20-secs to plot one indicator over 2 years history. Instant when you specify 15 days etc.

If anyone finds any errors or has suggestions PM me or add to this thread. (I suppose I started this in the right section. )

Cheers
Thanks very much. I installed the indicator and it works perfectly.
  • #22
  • Nov 3, 2006 11:16am Nov 3, 2006 11:16am
I checked about three more auto plotters and all plotted without day limit (extended in both directions indefinitely!). Only yours plots nicely within the day limit and modifies nicely as the days change. If weekly pivots can be made, that will be great.
Thanks for making it available for everyone.
-Chandra
  • #23
  • Nov 3, 2006 2:51pm Nov 3, 2006 2:51pm
Quoting achandrasekaran99
I checked about three more auto plotters and all plotted without day limit (extended in both directions indefinitely!). Only yours plots nicely within the day limit and modifies nicely as the days change. If weekly pivots can be made, that will be great.
Thanks for making it available for everyone.
-Chandra
My pleasure.

Was wanting to do some weekly pivot backtesting recently and was calculating the numbers and drawing them manually! I have a need for a weekly pivot version too. I did make one roughly, don't know if I got far with it. Will write one soon anyway.

Also want to improve the daily one. Sometimes screws up the plot on 1 minute charts. I know MT4 a bit better now.

Also fib and camarilla options would be good again.

....and as always can be faster!
Bundy's status today: "Waiting..."
  • #24
  • Edited 10:27pm Nov 15, 2006 10:08pm | Edited 10:27pm
  •  tesla
  • | Joined Oct 2006 | Status: Friendly Neighborhood Programmer | 533 Posts
I've got an indicator which accepts a param to identify which set of pivots to display (DailyEST, Weekly, Monthly). I'll clean up the code and document it a bit more, then I'll post it.

I've got something that's been nagging at me though... I'm not adjusting for server offset time when calculating monthly pivots and I wanted to get consensus on when the start/end points should be.

For instance:
This month the 1st falls on Wednesday. Should the servers default 'day' be used and all prices on Wednesday are considered valid? Should I start the monthly pivot from Tuesday 5pm EST? Inquiring minds want to know.
  • #25
  • Nov 16, 2006 1:51am Nov 16, 2006 1:51am
Hello bundyraider! thanks for this lovely indicator, backtesting pivot strategies will never be the same again! gone are the days when I had to manually input previous day's OHLC to get pivot values. you've done a great job! (can't wait to see the cam levels as well.:-)
  • #26
  • Nov 16, 2006 9:05am Nov 16, 2006 9:05am
Quoting jnormandin
I've got an indicator which accepts a param to identify which set of pivots to display (DailyEST, Weekly, Monthly). I'll clean up the code and document it a bit more, then I'll post it.

I've got something that's been nagging at me though... I'm not adjusting for server offset time when calculating monthly pivots and I wanted to get consensus on when the start/end points should be.

For instance:
This month the 1st falls on Wednesday. Should the servers default 'day' be used and all prices on Wednesday are considered valid? Should I start the monthly pivot from Tuesday 5pm EST? Inquiring minds want to know.
I have pondered this point for daily pivots itself and have come to the conclusion that it does not matter. There is very little difference that is not worth bothering (I currently use the GMT). That is for the daily pivots. For longer time frames also, the difference should be similarly small. If you really like, it should be possible to put a time-offset variable that can be changed in the parameter input tab, if anyone wants to do so.

--chandra
  • #27
  • Nov 16, 2006 9:25am Nov 16, 2006 9:25am
Quoting bundyraider
My pleasure.

Was wanting to do some weekly pivot backtesting recently and was calculating the numbers and drawing them manually! I have a need for a weekly pivot version too. I did make one roughly, don't know if I got far with it. Will write one soon anyway.

Also want to improve the daily one. Sometimes screws up the plot on 1 minute charts. I know MT4 a bit better now.

Also fib and camarilla options would be good again.

....and as always can be faster!
I just realized that your plotter also does great for Monday. Instead of fooled by sunday prices, it smartly uses better prices (I assume friday prices, but did not bother to check).

I am just learning the language. I found that it is easier to calculate the pivots for day or week without bothering about the chart timeframe (though I do not yet know how to make plots).
For example:
double dHighs[]; // dHighs[0] is current bar, dHighs[1] is prior bar ...
int number_copied = ArrayCopySeries(dHighs, MODE_HIGH, Symbol(), PERIOD_D1); // PERIOD_W1 or PERIOD_MN1 will work for week/month.
// Similarly MODE_LOW and MODE_CLOSE can be used for dLows[]....
DayOfWeek(); // gives the day from 0-6 for sun-sat.

May be you are aware of these. I thought it would be easier if the program plots just by seeing the date or day, rather than by time (then it will be easier to modify it for week/month). Just thought of including this, since I was posting the first paragraph anyway.
I hope your weekly version is coming along well.

--chandra
  • #28
  • Nov 16, 2006 2:44pm Nov 16, 2006 2:44pm
Quoting achandrasekaran99
...May be you are aware of these. I thought it would be easier if the program plots just by seeing the date or day, rather than by time (then it will be easier to modify it for week/month).
Hi Chandra,

The weekly version would use this method, or very close to it.

The daily one does it's thing the current way so as to allow for different start times. I am, though, considering grabbing information from higher intra-day time frames to speed things up.

At the moment applying the indicator to the 1 - minute chart creates a large workload for the computer. If I remember correctly it calculates the daily pivot EVERY bar. The first version was worse. It was counting back around 1440 bars EVERY SINGLE BAR to find it's info!!!
If it was grabbed from the hourly it doesn't take a genius to figure out 24 bars is quicker than 1440 bars!

Haven't done anything on these indicators lately and it could be a little while yet. Maybe over the xmas period. Have other things happening that leave less time for programming. Any programming I do embark on will be "as I'm interested" so this one may win out earlier or it may not. Sorry people, but it will happen, I still want the features myself!!
Bundy's status today: "Waiting..."
  • #29
  • Nov 17, 2006 7:27am Nov 17, 2006 7:27am
  •  tesla
  • | Joined Oct 2006 | Status: Friendly Neighborhood Programmer | 533 Posts
It can display daily, weekly or monthly pivots. It has one param which determines which set to display. Add it to a chart three times to display all three sets.

PivotSet Param values:
1 = DailyEST
2 = Weekly
3 = Monthly

It requires a global param 'EasternTimeOffset' which is an integer value for the number of hours behind server time that should be used for calcs. It's -6 for me.

Try it out, it's pretty speedy to render since it only pulls 24 bars of data to calculate daily pivots, 1 bar for weekly and monthly.
Attached File(s)
File Type: mq4 PivotPoints.mq4   9 KB | 2,515 downloads
  • #30
  • Dec 20, 2006 6:16am Dec 20, 2006 6:16am
Tesla,

By the way, thanks. Saved me from worrying about mine for the minute.

Haven't touched my code for a long time, except for the occasional hack to try ideas.

,Bundy
Bundy's status today: "Waiting..."
  • #31
  • Jan 2, 2007 6:05am Jan 2, 2007 6:05am
Thank you for the Pivot Plotter. I was hoping to code it my self (after I learned the MT4 coding language).You saved me lot's and lot's of time and bother. I appreciate you posting the work here.
Thank you again.
  • #32
  • Jan 3, 2007 1:08am Jan 3, 2007 1:08am
Quoting adamsteele
Thank you for the Pivot Plotter. I was hoping to code it my self (after I learned the MT4 coding language).You saved me lot's and lot's of time and bother. I appreciate you posting the work here.
Thank you again.
Your welcome Adamsteele.
Bundy's status today: "Waiting..."
  • #33
  • Jan 3, 2007 1:16am Jan 3, 2007 1:16am
There's a bug when using this indicator on 4-hour charts.

The start time has to co-incide with a 4 hour bar or else the pivots are wrong.

I tend to like 22:00 GMT as a start time now, but on the 4 hour I change this to 0:00 GMT for example.
Mostly these two times give similar pivot levels, with the exception of when strong moves happen around these times giving vastly different closing times, daily highs/lows etc.

,Bundy
Bundy's status today: "Waiting..."
  • #34
  • Jan 17, 2007 2:07am Jan 17, 2007 2:07am
A bit new to this but which variables can I change to adjust the time. Ultimately I would to make an adjustment to make calculation at 5:00pm Est or -5 GMT.


Thanks In Advance,

Great Plotter.... been searching for days
  • #35
  • Jan 20, 2007 4:48pm Jan 20, 2007 4:48pm
Quoting badbway14
A bit new to this but which variables can I change to adjust the time. Ultimately I would to make an adjustment to make calculation at 5:00pm Est or -5 GMT.
Hi badbway14,

StartHour =22 (Which , of course, is 22:00 GMT)
StartMinute =0
DaystoPlot = Whatever you want.
-Depending on how far back you wish to plot. Can be slow to plot if too high. For example, if set to go back a couple of years on a 1 minute chart.

I never see any point in changing the minute to anything else but 0. LOL

Sorry I took a bit to get back to you mate.

Cheers
,B
Bundy's status today: "Waiting..."
  • #36
  • Jan 20, 2007 10:08pm Jan 20, 2007 10:08pm
Hi all,

Finally written a weekly version of my pivot plotter.

Unlike the daily plotter, this one incorperates a fibonacci option for those who prefer the fibonaacci based pivot calculations.
If you wish to use fibonacci based pivots then just change the value of ChangeToFibonacci option to "True" when you add the indicator to your chart.

Once again I've had to break this into two indicators to get the mid-levels on to the chart at the same time.
If you would like to use standard AND fibonacci plots at the same time just insert the indicator twice each for main levels and mid-levels, setting , of course, the ChangeToFibonacci value for the alternates.

Enjoy!!

,Bundy

P.S. As always, let me know of any errors you encounter and I'll do what I can to fix.

EDIT: Files contained in following post.
Attached Image
Bundy's status today: "Waiting..."
  • #37
  • Jan 20, 2007 10:09pm Jan 20, 2007 10:09pm
...And here are the files.
Attached File(s)
File Type: mq4 Auto-Pivot Plotter Weekly V1-00.mq4   7 KB | 1,467 downloads
File Type: mq4 Auto-Pivot Plotter Weekly V1-00 (Mid-Levels).mq4   7 KB | 1,310 downloads
Bundy's status today: "Waiting..."
  • #38
  • Mar 30, 2007 8:37pm Mar 30, 2007 8:37pm
Quoting badbway14
A bit new to this but which variables can I change to adjust the time. Ultimately I would to make an adjustment to make calculation at 5:00pm Est or -5 GMT.
Quoting bundyraider
Hi badbway14,

StartHour =22 (Which , of course, is 22:00 GMT)
StartMinute =0
DaystoPlot = Whatever you want.
Now, this would be 23 for the new EDT, right?
  • #39
  • Mar 31, 2007 3:03am Mar 31, 2007 3:03am
Quoting technamental
Now, this would be 23 for the new EDT, right?
Ummm... I think so. Pretty sure. LOL

...Daylight savings sucks sometimes!!

Ours changed back last week. Not watching the market ATM to be 100% sure. :
Bundy's status today: "Waiting..."
  • #40
  • Apr 1, 2007 9:23am Apr 1, 2007 9:23am
My last candle displayed at Friday's 5:00 EDT close on the hourly chart displays 22:00 for the time. The "Time-Adjusted" method would then use the previous hour to find the close value. This would make 23 the correct 'StartHour' for EDT. However, (omitting weekend data) the 23:00 candle will not be available again to enable the pivot calculation until the market re-opens. If you could modify this to use 'FinishHour', the following week's first daily pivot would be available before Sunday's (EDT) market open. Since my broker allows weekend access to their trading platform and my strategy involves using daily pivots to position limit orders accross twelve pairs, the modification would allow me to have everything in place ahead of time and prevent missing any opportunities that present themselves during the illiquid Sydney opens. Either way, thanks for adding the adjustable feature so it can be used for other time zones.
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