Support Board
Date/Time: Thu, 28 Nov 2024 20:34:49 +0000
PIVOT POINTS 1 HOUR / Accuracy
View Count: 691
| [2023-04-04 16:30:54] |
| User373190 - Posts: 8 |
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Hi guys I am using an intraday chart based on reversal bar 4 ticks to trade ES (ESM23_FUT_CME). I see that the calculation of the pivot point 60 minutes (based on pivot points variable period study, formula type 0) don't seem accurate on the chart: right now it is 12:30 pm Eastern time. Last hour data (from 11 am to 11:59 am) is the following for the ES: High:4140,50 Low:4125,25 Close 4125,75 therefore unless mistaken, the PP 1 Hour should be (4140,50 + 4125,25 + 4125,75) / 3 = 4130,50 413 on the SIERRA CHART the PP is equal to 4123,42 therefore a difference of 7,08 points. the other R1, R2, R3 etc..show a difference as well I've read the table of content "pivot points are not accurate or are different. Is there a way around this using a reversal bar in ticks? Please advise, Thanks, |
| [2023-04-04 17:53:13] |
| John - SC Support - Posts: 36350 |
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Keep in mind that it is going to be using the Last Hour from your chart, which will not necessarily match the actual numbers from the exchange. You would need to look at what your chart shows for the bars that are covering the last period. Also, make sure the value for Minimum Required Time Period as %is set low, so you do not skip over a period. Worst case, enable the option for Display Debugging Output to see what is going on. Refer to the information here: https://www.sierrachart.com/index.php?page=doc/PivotPoints.html#s223 For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2023-04-11 20:38:10] |
| User373190 - Posts: 8 |
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I have been playing around with Minimum Required Time Period as % And Display Debugging Output, the best I can get is pivot point 1 hour being off by 1 tick compared to the correct value, which is easily calculated to double check (unlike VWAP), And compared to values showed by Tradingview And Prorealtime. Both of these platforms displaying the same value as the "manual" calculation. Still scratching my head as to why Sierra Chart does not get this right? |
| [2023-04-11 21:07:10] |
| John - SC Support - Posts: 36350 |
|
You can not compare the Pivot Points to another system and expect to get the exact same result. Even if the calculation is exactly the same, the underlying data that the calculation is based on may not be the same. If you have a question about how Sierra Chart does the calculations, then check what we have written up against the data in the Sierra Chart system and ensure that it is consistent. If it is not, then let us know. But, if our calculations are internally consistent, then that is as far as you can go with it. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
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