Tigertron Pivots

UNTIL THE INDICATOR IS BUG FREE PLEASE DOUBLE CHECK THE VALUES FROM AN INDEPENDENT SOURCE (www.ActionForex.com)

V1.0 released 08-15-09
V1.1 released 08-18-09
V1.2 not released
V1.3 released 08-29-09
V1.31 released 08-30-09
V1.4 released 09-04-09
V1.5 released 09-08-09


Source code is posted!!!! (I found a back up )

This is my version of a popular indicator.

Features:

 

1. Calculate Pivots from any timezone starting at any hour.
2. Calculate Traditional pivots or Fibo Extension pivots (or both).
3. Graph Monthly, Weekly or daily (or all) pivots plus mid pivots.
4. Graph 50% of yesterdays High/Low.
5. Graph High and Low of yesterday and prior days range also today's open.
6. Graph dynamic Sweet Spots (round numbers).
7. Graph a daily candle.
8. Graph two Daily SMAs.
9. Ability to make major variables global for use in other indicators or EAs.
10. All/None/Any of the graphs can be enabled.

The indi *should* be able to figure out what GMT is from any computer anywhere. Using GMT it can then calculate what different time offsets are need to correctly display the start of days on your computer with your broker. So no setting are needed for your particular location.

The correct way to set CalcInWhatTimeZone and CalcFromWhatHour are by setting CalcInWhatTimeZone to the GMT offset for the calculation region and CalcFromWhatHour to the hour you wish to start the calculations from in that region.

Examples are more clear:

New York:
CalcInWhatTimeZone = -4 (EST)
CalcFromWhatHour = 17 (Hour of NYSE Close)
or
CalcFromWhatHour = 0 (Midnight EST)

London:
CalcInWhatTimeZone = 0 (GMT)
CalcFromWhatHour = 8 (Hour of London Open)

Toyko:
CalcInWhatTimeZone = 9 (Toyko GMT Offset)
CalcFromWhatHour = 18 (Hour of Tokyo Close)


My intention is to have the indi self adjust all the parameters for your particular location and broker and all you need to figure out is the timezone and the hour in that timezone of how you want the pivots calculated. It also should adjust for DST on your computer. Currently it does not for the CalcInWhatTimeZone so you may need to change that when the time changes for DST. Unless I can code it in

It defaults to New York Close and if that is what you want no changes are needed.

Traditional pivots are based on the (H+L+C)/3 formula.

Fibo Extension Pivots are fibo extensions of the previous days high to low and then extended off today's pivot point. For example; Draw a fibo extension from high to low of yesterday then place the third data point at the pivot line of today. To get the extension to the other direction draw the fibo extension from low to high of yesterday and the third point at today's pivot.

Weekly and monthly pivots are drawn in the color scheme of the daily pivot type (traditional or fibo) only in a different line style.

Dynamic Sweet Spots show only around current PA. With the upper and lower 00 and the 50.

Daily candle is graphed on the PA of today at the zero bar.

Two SMA based on daily close are graphed for today,yesterday and the prior day.

Global Variables are available to other Indicators or EAs with out having to recalculate the data. (See GlobalVariableGet() function info)

All variables start with Symbol() and then an identifier. i.e. ERUUSDp = today's pivot point.Use the attached GlobalVars indicators to show the values and names. (GlobalVars indi is for demo purposes do not leave on your chart).

Symbol()+<below>:

p,r1,r2,r3,s1,s2,s3 = traditional daily pivot levels
pmr1,pmr2,pmr3,pms1,pms2,pms3 = traditional daily pivot mid levels
fr1,fr2,fr3,fs1,fs2,fs3 = Fibo daily pivot levels
fmr1,fmr2,fmr3,fms1,fms2,fms3 = Fibo daily pivot mid levels
uss,lss,mss = upper,lower and mid Sweet Spot
yh,yl,yo = yesterdays high, yesterday low, yesterday open
st,sy,sp = start today, start yesterday ,start prior day (datetime vars)

I am releasing this as a beta until I can check it out for a while. Weekends mess with the timing but I think I have that working. another known bug is when a day rolls over, the daily candle does not update correctly. (I think it is in the built-in function I am using.) Changing time frames and then back fixes most problems. Fixed. Not beta anymore.

Also, I tested this on demo accounts only. So I need feedback on whether the timezone adjustment works from different areas of the world. And, please tell me if anything else doesn't work.

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V1.0 Aug 15, 2009

I think this is close to being bug free. Please let me know if something does not seem right.

Added ability to change colors and line styles on just about every line.
Added ability to changes font sizes.
Added the ability to enable/disable more lines.
Added 3 more daily candles for a total of 4 candles including real-time painting of today's candle.
Fixed bug(s) with how weekends and start/end of market are handled.
Fixed bug with start of days sometimes being off by one bar.

Plus minor changes in display.
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V1.1 Aug18, 2009

A situation occurs when the market opens for the new week and is only a few hours before what would be the start of a normal trade day. According to the indicator, it would call those few prior hours a day.
It was using those few hours to calculate the pivots for today. This should be fixed. Now it should just add those few hours to the start of the day and calculate the pivots with the bonus hours included.

Fixed the daily bar not drawing correctly on weekend borders.
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V1.2 - V1.3 Aug 29,2009

Changed the GlobalVars names a bit for brokers that use odd names for 5 digit pricing.
Changed the way after market hours are detected. I hope this will solve any issues with different time zones. It is all based off of GMT now and should be universal.

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V1.31 Aug 30, 2009

Made a typo in the market hours range causing market hours to off by 1 hour.

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V1.4 Sep 4, 2009

H4 candle charts were causing trouble with the calculations. When a candle would straddle the CalcFromWhatHour time the indicator could not get the correct price to calc from. Now all time references and price values are derived from M1 charts and transposed to the viewed chart. This keeps values consistent from TF to TF.

Divide by zero error came up with decimal places of 2. Fixed.

Note: There is a known bug that will show up when DST changes in NZ and US. It should only cause trouble for the last hour on Friday or the first hour on Sunday. I wanted to get the new version out while I research the time changes.

Another know bug is that the indicator seems to lock up when there is insufficient data for the chart. I'm not sure if it is me or MT4 but the work-around is to go to History Center (F2) and do a download of the pair. Do it twice so it recalculates the time frames. I'm also looking into a fix for this.
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V1.5 Sep, 8 2009

This version is much less resource intensive. After making the indicator use M1 bars situations could arise where not enough bars were loaded and the indicator would lock up the platform. I expect that is all fixed now and multiple copies of the indicator should not slow the platform as bad.

I added two more inputs to manually define the end and start of the market week.

I created a PDF documentation for the indicator as well as a PDF on how to load bars when they are insufficient.
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April 25, 2011

A couple years ago my laptop with the source code was stolen and I thought that was the only copy I had. It turns out I did make a backup and just recently found it. It is now attached for you to do as you please with it. I no longer trade FOREX and release all rights to the code. I also have not programed in a very long time and can not remember what/how I did. The code is pretty well documented and it should not be too difficult for some one to figure out.

Best of luck. And thanks for the encouraging comments.
Tony

Hi Tigertron, is Harry here.

Thank you for your awesome indicator developed. Your Pivot's indicator captured Day Before Yesterday High/Low. I really like this indicator.

I attached the indicator on chat it come out showing non stop alert "Time zone error". What's strong with the timezone set up, any way to fit it?

Looking forward to your final version.

May God bless you.

Hello Harry,

So you got the timezone error? hmm. OK. here is one that wont give you that error but I will have to see why you get it. That error comes from the DLL call. According to the the API you should not get that unless there is something wrong. I'll look into it.

Try this copy until I research it some more.

Harry,

I found a little more info from Binaryworld

Are you by chance in a timezone that does not adjust for daylight savings time? I will fix this so it at least defaults to standard time instead of giving an error.

Tigertron,

Thank you for the Perfect indicator V0.9.1, the "Time Zone Error" solved and everything is in order.

Again, I need a favour from you for the lines style and color setting, would you mind change for me the followings:

1. Pivot Line Style_SOLID 1, Aqua.
2. R's Lines Style_Dot, Blue.
3. S's Lines Style_Dot, Red.
4. P's & Y's High Line Style_Dot, Cornflowerblue.
5. P's & Y's Low Line Style_Dot, Plum.
6. Remove the T's Open.

Thank you for your great effort.

Harry,

I'm going to run the indicator one more day or so just to make sure the times update correctly. After that I will the call it good and release it as v1.0. When I do I will add those features you ask. What I will do is make all the colors and line styles customizable. I am also fixing a small bug that seems to be a problem with iHighest() and iLowest() functions. I will have to do it with my own code it seems but the functionality will stay the same.

Thank you for your input. Check back in a couple days for the final version.

Hello Tigertron,

Thank you for sharing your indi here, i´m trading Pivots as well and I´m gonna check it for a while. Are you interested on opinions or even suggestions?

Thank you again.

Certainly. I am going to add color and style options. Actually, I have already and will post that verson soon. I had a bug with the computer clock and the server clock causing the wrong bar to be used as the beginning of a day. I think I have it fixed but I want to test it a bit more.

Anything you think might be helpful to a pivot point trader I'm open too.

Check the first post to download the V1.0 and read changes.

Pivot Point traders let me know what you think and/or if I should change anything.

Tigertron

My broker timezone is GMT+3, so I tried CalcInWhaTimeZone: 3, CalcFromWhatHour:0

It seems unable to get the correct T's Open price? When I switch from 1 hour chart to 15 min, the T's Open price will change too?

There may be some confusion on that. I didn't document that too clear.

The indi *should* be able to figure out what GMT is from any computer anywhere. Using GMT it can then calculate what the different offsets are need to correctly display on your computer with your broker.

So the correct way to set CalcInWhatTimeZone and CalcFromWhatHour are to set CalcInWhatTimeZone to the GMT timezone offset for the region and CalcFromWhatHour set to the hour you wish to start the calculations, in that timezone.

Examples are more clear:

New York:
CalcInWhatTimeZone = -4 (EST)
CalcFromWhatHour = 17 (Hour of NY Close)
or
CalcFromWhatHour = 0 (Midnight EST)

London:
CalcInWhatTimeZone = 1 (London GMT offset)
CalcFromWhatHour = 8 (Hour of London Open)

Toyko:
CalcInWhatTimeZone = 9 (Toyko GMT Offset)
CalcFromWhatHour = 18 (Hour of Tokyo Close)


My intention is to have the indi self adjust all the parameters for your particular location and broker and all you need to figure out is the timezone and the hour in that timezone of how you want the pivots calculated. It also should adjust for DST on your computer. Currently it does not for the CalcInWhatTimeZone so you may need to change that when the time changes for DST. Unless I can code it in

It defaults to New York Close and if that is what you want no changes are needed.

Does that solve your issue fxfei? On the open price, it seems I am looking at the close of the prior day candle and not the open of this day. I will look into it. Thanks.

I think I know what the issue is on the T's Open. Its not really a bug. Its how I handle end of market week.

For example my brokers demo account stopped sending data 5 mins early. This made my end of the week time to never get hit. The indi is still waiting for the bar to finish. To get around this and so I can see what Mondays pivots are going to be I made the indi check to see if the market is closed and if so, is the last bar just not finished? If that is true it makes the last bar as the first day and calcs the pivots for tomorrow. The open of this last bar will change as you change TFs. I think that is what you are seeing.

Now if I drop down to where there is more than 1 bar to complete like the 5 min or 1 min TF (Data ended 5 min and 1 sec before close). Since more than one bar needs to be completed the indi will use the real start time of Friday and wont calc Monday until the market opens.

This should only be an issue with goofy data feeds on the weekends. When the market opens on Monday(Sunday) it should be normal. I will monitor it.

Tigertron

Hi,
Assume my broker is at GMT+3
I set
CalcInWhatTimeZone = 3
CalcFromWhatHour = 1

T's open display correctly and remain there as I change the timeframe.
but once I set CalcFromWhatHour = 0 or less than 0, it will not display correctly and will varied with different timeframe.

I assume if we want to start calculate from London close, in this case we will need to set CalcFromWhatHour = -5 or other figure less than 0.

fxfei,

The indi can determine your broker offset automatically, no need for conversions.

So for London, SetCalcInWhatTimeZone to Londons GMT offset which is 1. Then set CalcFromWhatHour to any hour you wish (24hr format) from 0 to 23. 17:00 is London close. So set CalcFromWhatHour to 17 and you will be calculating pivots from GMT +18 which is london close (London +1, Hour 17:00).

CalcFromWhatHour can *never* be negative. This is the clock hour on the day you wish to start the calculations.

Setting the parameter to 1 and 17 should give London close as the start of the day. If not I'll look in to it closer.

Tigertron

There is a bug.

Its not as easy as I thought to make the indicator handle different timezones and hours. I'll get it right eventually. Also there is a bug with the daily candle not drawing correctly on the StartOfDay that borders a weekend. Looking for more bugs.

V1.1 Will be posted tomorrow.

Really nice indicator. This is what i really need for long time. Cheers mate !

what are 20 sma and 50 sma ? what are the purposes of the moving everages ?
Sorry for my English . Thank you.

Thanks nguyen glade you like it.

The SMAs are *Daily* Simple Moving Averages. They show as a line that represents the SMA level that would be shown if it were a daily chart using the period you set (default 20 day and 50 day). This SMA is plotted as the daily level and stays the same no matter what time frame you select.

Tigertron,

Nice little indi. Have you ever looked at the work by Frank Dilernia? I have been doing some stuff with his and with a few variations. Its working very well and deals with the previous days range and a multi day rolling range. I will discuss some more of this and some possible options that you may want to consider adding. I will discuss this later with you and the research/testing that I have done with it and what I have found.

Cheers

That name sounds a little familiar but I'm not certain. I will do a search. Looking forward to anything you want to discuss.