OmniTrader Professional Forum
OmniTrader Pro General Discussion
Rolling Pivot Points
45 replies, 8058 viewings
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OmniTrader Professional Forum
OmniTrader Pro General Discussion
Rolling Pivot Points
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Last Activity 11/25/2023 12:15 PM 45 replies, 8058 viewings |
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Tony Legend  Posts: 411 Joined: 3/21/2006  User Profile |
I want to just thank you for all of your work and contribution to the pro forum. You not be aware that you have a following of folks that truely appreciate you work. Currently, I still trade a dummy account in FX. I enjoy trading pivots and will at some point get ot set up for FX. So once again thank you as this looks like a tool that I could use. tony | ||
| Kris Legend  Posts: 347 Joined: 4/20/2006 Location: JNB, ZA User Profile |
Unfortunately the best moves normally happen while I am in the office. Typically I pickup the "cigarette-butts" of the forex market, i.e trades that are available to me in the evening :-) I view it as a real problem, because if a strategy gives me very good back-test results, I should trade every signal(!), otherwise I cannot expect consistent performance (in line with the back tested results). Now if profitable trades are during mid-day, but I trade in the evening, I may be picking-up the less profitable trades(the butts!?). That is why automated trading is so important, I am building up some courage to let my computer lose. Anyway, typically I use very simple strategies with 1-2 related system(s), 1-filter/confirmation and 1-stop. Since we are talking about Pivots, attached is a strategy with Pivot Filter that serves me well in a volatile market (i.e. FX): * two systems - RSI-P & RSI-TLB * Pivot Filter - allow long trades when price is above the central pivot level of the next larger time frame (short vice versa), e.g. on 60-min chart my filter is daily central pivot level, and on daily chart my filter is weekly central pivot level. * my forex stop within a forex trade-plan. * attached are all required files. Also, I believe that with this strategy it is important to carefully select/enable correct timeframes. For example, I disable the 10-min timeframe. For 10-min I use different filter setting and a different stop (my 2-bar stop) Tony, thank you for your good word. Welcome to Forex, the dark side of the market. I migrated to Fx about 16 months ago and I am slowly losing interest in stocks and futures :-) Cheers, Kris  Attached file : ForexStop.txt (1KB - 332 downloads) Attached file : Forex.ott (92KB - 336 downloads) Attached file : fx-RSI.ots (664KB - 353 downloads) | ||
| Kris Legend Posts: 347 Joined: 4/20/2006 Location: JNB, ZA User Profile |
However, the DailyPivot10min (top right on attached pic) is still useful as it shows mid-points between the R#-PP-S# levels. Typically after a narrow day (see 19-Jul and 25-July on bottom right Hourly chart) the next day's (20-Jul and 26-Jul) pivots are bunched up and one should be ready for a larger move. Conversely, after a large move on a day like yesterday (26-Jul) one should use the mid points, see 10-min chart (top right corner) for precise entry and exit points. By the way, yesterday we had another massive JPY move from central Pivot level all the way to S5 level(!) This time I was in from of my trading station and made some good cash :-) Cheers, Kris Attached file : JPY.JPG (204KB - 349 downloads) | ||
| RichardL Veteran Posts: 211 Joined: 3/11/2006 User Profile |
I tried to fire up your files, but the filter function is looking for FloorPivot_Above() and FloorPivot_Below() If you are happy to post them, would be very grateful. all the best Richard | ||
| Kris Legend Posts: 347 Joined: 4/20/2006 Location: JNB, ZA User Profile |
Go to strategy builder > Filter block > Conditions > Long (window) and delete the "FloorPivot_Above()" string and enter: C > (H[1]+L[1]+C[1])/3 In the Conditions > Short (window) delete "FloorPivot_Below()" and enter: C < (H[1]+L[1]+C[1])/3 That will do the trick. Cheers, Kris | ||
| RichardL Veteran Posts: 211 Joined: 3/11/2006 User Profile |
and to echo the others in sincere thanks for the amazing code you and Manfred put together - it is inspirational but must be v hard graft to get right so very much appreciated for sharing. cheers Richard | ||
| Tony Legend Posts: 411 Joined: 3/21/2006 User Profile |
just wanted to mention that the posted fx strategy does offer some great signals. But be careful if one is testing it as you will experience changing signals with timeframe in filter set at current plus one. Have we ever found a way to keep a signal from dissapearing once it is present in these higher timeframe confirm strategies. Thanks, Tony | ||
| Kris Legend Posts: 347 Joined: 4/20/2006 Location: JNB, ZA User Profile |
Thanks for pointing it out, I forgot to mention. The logic behind the (Pivot) filter in a timeframe: Current+1 is designed to maintain consistent signals, but in volatile markets the signals may change. Lets assume that we have 5-min, 60-min, daily and weekly timeframes within our profile. If we trade on 60-min timeframe, the pivot filter will be on daily timeframe. Now, if the market opens and stays below the central daily pivot level, only short signals will be allowed. However, when the market rallies above the central daily pivot level the filter allows only the long signals. As a result, because 60-min closing price is above the the daily pivot level, the strategy allows only long signals for the whole day, recalibratig signals fired this morning(!?) I am afraid that it is not perfect, but it still works reasonably well. Also, I wouldn't use it in a profile with too many timeframes. E.g. I wouldn't want to trade on 5-min chart with a filter based on 15-min bar(!) In fact in my 5-min strategy I use filter in Current+2 timeframe, i.e. daily pivot (skipping the 60-min timeframe). I hope it makes sense. Cheesr, Kris | ||
| Tony Legend Posts: 411 Joined: 3/21/2006 User Profile |
very good feedback. Much appreciated. Yes, using multiple timeframe confirm is sound. But I am still wondering if we have a workaround that keeps signal in place on the voteline / focus list once signal is fired even though volitiliy may have change the filter condition to where it is no longer true? Yes, this is an old issue that is once again popping up. Thanks, Tony | ||
| Matthew Greenslet Idol  Posts: 2077 Joined: 2/27/2006 User Profile |
[Edited by Matthew Greenslet on 8/9/2007 9:24 AM] | ||
| Kris Legend Posts: 347 Joined: 4/20/2006 Location: JNB, ZA User Profile |
Check Hubert's video: http://clicks.aweber.com/z/ct/?UfPCSh97eeG5anPGdVU_Fw Then attached pictures, and if you like it download the indicator. According to Hubert, it works well in quiet/sideways markets. Looking at today's market, it is amazing how many currencies respected these levels. Cheers, Kris Attached file : EUR_2_min.JPG (88KB - 327 downloads) Attached file : JPY_2_min.JPG (79KB - 313 downloads) Attached file : Pivots02min.txt (2KB - 328 downloads) | ||
| Greg Legend Posts: 337 Joined: 3/22/2006 Location: Mishawaka, IN 46544 User Profile |
Do you have any ideas why I would get this look? This is RT Attached file : RollingPivots.png (5KB - 326 downloads) | ||
| Kris Legend Posts: 347 Joined: 4/20/2006 Location: JNB, ZA User Profile |
Current version works on 2-min charts only(!). I have updated the code to ensure that if the chart periodicity is different to 2-min the indicator doesn't draw anything. Next version will be more flex... Sorry, I wasn't specific enough in my post (although it is documented within the indicator code). Cheers, Kris [Edited by Kris on 9/8/2007 1:46 AM] Attached file : Pivots02min.txt (2KB - 321 downloads) | ||
| Kris Legend Posts: 347 Joined: 4/20/2006 Location: JNB, ZA User Profile |
The last indicator (Pivots1hr05min.txt) code includes my current thinking on detecting chart periodicity, but it isn't working (yet). To avoid confusion all three indicators will draw pivots only on correctly specified chart period, i.e. it will draw 5-min rolling pivots only on 5-min chart, but will not draw the garbage that Greg alerted me to on e.g. 2-min chart. Maybe one of the more accomplished developers could have a look at the Pivots1hr05min.txt code and help us get the auto-chart-periodicity to work. Cheers, Kris Attached file : Pivots1hr01min.txt (2KB - 351 downloads) Attached file : Pivots1hr02min.txt (2KB - 357 downloads) Attached file : Pivots1hr05min.txt (3KB - 375 downloads) | ||
| Kris Legend Posts: 347 Joined: 4/20/2006 Location: JNB, ZA User Profile |
Similar principles could be used for 60-min Floor Pivots posted in a previous note. Cheers, Kris | ||
| Matthew Greenslet Idol Posts: 2077 Joined: 2/27/2006 User Profile |
If SymbolData.Periodicity = 1 Then Timeframe = Intraday And Minute = SymbolData.Compression If SymbolData.Periodicity = 2 Then Timeframe = Daily If SymbolData.Periodicity = 3 Then Timeframe = Weekly | ||
| Zimbo New User Posts: 2 Joined: 7/1/2006 Location: Johannesburg, South Africa User Profile |
FileName: ; Line: 0; Char: 0; Error Number: -2; Microsoft (R) Visual Basic Compiler version 8.0.50727.5420 for Microsoft (R) .NET Framework version 2.0.50727.5456 Copyright (c) Microsoft Corporation. All rights reserved. C:\Program Files (x86)\Nirvana\OT2012\VBA\Temp\indDailyPivots60min.txt(165) : error BC30451: Name 'C' is not declared. If (Bar > (C.Length() - ((NumberHistoricalPivots * LookBack) + CurrLookBack(Bar)))) Then ~ C:\Program Files (x86)\Nirvana\OT2012\VBA\Temp\indDailyPivots60min.txt(204) : error BC30451: Name 'C' is not declared. ElseIf ((Bar > (C.Length() - CurrLookBack(Bar))) And (afBARHOUR_23(Bar - 1) <> 23)) Then ~ Maybe the newer version of OT has broken the code for the 2007 version. Can anybody help me with this? | ||
| Jim Dean Sage  Posts: 3433 Joined: 3/13/2006 Location: L'ville, GA User Profile |
Sometime in the past couple of years the OLang Parser has gotten much less helpful in the nature of the way it reports problems. Doesn't give line numbers in the orig OLang code in many cases where it used to. And other things. Lots of times now the code/line#'s in the error msg is the code from the Temp file. So the only way to diagnose it is look a the original OLang routine in full. | ||
| JB Legend Posts: 434 Joined: 6/6/2006 User Profile |
I have come up with a variation to the hour code for looking at shorter pivot periods. I woould love to hear feed back about this one. It seems to me following in Frank O's way of thinking that the pivots do offer very useful directional info. What I need to get from here is an indicator to plot the pivot direction ie if the centre pivot is lower that the previous centre pivot then return equals = 1, if the pivot is the same then 0 and if higher then return 2. I have had a go with mixed results if anyone can help it would be appreciated. I did not understand the need for the divide by one in Kris's original code for the hour pivot at compiled line 16 "CurrLookBack = BarMinute()/1". [Edited by JB on 11/14/2012 3:08 AM] Attached file : JBIntraPivotIdea.txt (4KB - 293 downloads) Attached file : JBIntraPivotIdea.png (61KB - 489 downloads) | ||
| beech pilot Member Posts: 34 Joined: 11/1/2018 Location: Visalia User Profile |
***** Global *****: FileName: ; Line: 0; Char: 0; Error Number: -2; Microsoft (R) Visual Basic Compiler version 14.8.4084 for Visual Basic 2012 Copyright (c) Microsoft Corporation. All rights reserved. This compiler is provided as part of the Microsoft (R) .NET Framework, but only supports language versions up to Visual Basic 2012, which is no longer the latest version. For compilers that support newer versions of the Visual Basic programming language, see http://go.microsoft.com/fwlink/?LinkID=533241 C:\Program Files (x86)\Nirvana\OT2023\VBA\Temp\rp.txt(168) : error BC30451: 'C' is not declared. It may be inaccessible due to its protection level. If (Bar > (C.Length() - ((NumberHistoricalPivots * LookBack) + CurrLookBack(Bar)))) Then ~ C:\Program Files (x86)\Nirvana\OT2023\VBA\Temp\rp.txt(207) : error BC30451: 'C' is not declared. It may be inaccessible due to its protection level. ElseIf ((Bar > (C.Length() - CurrLookBack(Bar))) And (afBARHOUR_23(Bar - 1) <> 23)) Then ~ Compiler return value: 1 Build failed. | ||
| Barry Cohen Idol Posts: 2285 Joined: 1/1/1900 User Profile |
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