Pivot monthly strategi

• 07/11/2016 at 10:51 AM #10394
  filiprb

  Hello,

  I’m currently building a strategy based on different kind of pivot points. In my testing I’m using a modified version of this indicator; http://www.prorealcode.com/prorealtime-indicators/daily-weekly-monthly-pivot-points/#comment-1059 . I though run into problems using the monthly pivot points in different ways. I’ll give you an example bellow;

   

  DEFPARAM CUMULATEORDERS = FALSE // Once lastMonthBarIndex = 0 Once monthlyHigh = undefined Once monthlyLow = undefined Once monthlyPivot = undefined If Month<>Month[1] then monthlyHigh = Highest[BarIndex - lastMonthBarIndex](High)[1] monthlyLow = Lowest[BarIndex - lastMonthBarIndex](Low)[1] lastMonthBarIndex = BarIndex monthlyPivot = (close[1] + monthlyHigh + monthlyLow) / 3 Endif MM1 = AVERAGE[7](CLOSE) // C1 = MM1 CROSSES OVER MONTHLYPIVOT IF NOT LONGONMARKET AND C1 THEN BUY 1 CONTRACTS AT MARKET SET STOP %LOSS 2 SET TARGET %PROFIT 5 ENDIF

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  DEFPARAM CUMULATEORDERS = FALSE   //   Once lastMonthBarIndex = 0 Once monthlyHigh = undefined Once monthlyLow = undefined Once monthlyPivot = undefined   If Month<>Month[1] then monthlyHigh = Highest[BarIndex - lastMonthBarIndex](High)[1] monthlyLow = Lowest[BarIndex - lastMonthBarIndex](Low)[1] lastMonthBarIndex = BarIndex     monthlyPivot = (close[1] + monthlyHigh + monthlyLow) / 3 Endif   MM1 = AVERAGE[7](CLOSE)   //   C1 = MM1 CROSSES OVER MONTHLYPIVOT   IF NOT LONGONMARKET AND C1 THEN BUY 1 CONTRACTS AT MARKET   SET STOP %LOSS 2 SET TARGET %PROFIT 5 ENDIF

  This is just an example of what kind of strategy I’m trying to achieve. I can’t though see what I’m doing wrong here?
  Help much appreciated!

   

  

  filiprb

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  07/11/2016 at 4:12 PM #10399
  Nicolas

  What is the problem you encountered with this trading strategy? No trades are initiated?

  

  Nicolas

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  07/11/2016 at 6:38 PM #10402
  filiprb

  Obs sorry, forgot to mention the problem. Exactly, no trades were initiated and i can’t seem to understand why. Any clue?

  

  filiprb

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  07/12/2016 at 7:49 AM #10408
  Nicolas

  Try to change the line 23 with this (not tested) :

  C1 = MM1 CROSSES OVER MONTHLYPIVOT[1]

  1	C1 = MM1 CROSSES OVER MONTHLYPIVOT[1]

   

  

  Nicolas

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  07/12/2016 at 8:31 AM #10416
  filiprb

  Did not work unfortunetly, no trades initiated.

  

  filiprb

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  07/12/2016 at 9:02 AM #10418
  filiprb

  I’ve also tried other approaches with the monthly pivot code. But nothing seems to work. For example; when the weekly pivot < monthly pivot and bla bla bla, then buy 1 contracts at market. Doesn’t work.

  

  filiprb

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  07/12/2016 at 4:22 PM #10432
  Nicolas

  This is the fixed code:

  DEFPARAM CUMULATEORDERS = FALSE defparam preloadbars = 20000 Once lastMonthBarIndex = 0 If Month <> Month[1] then monthlyHigh = Highest[BarIndex - lastMonthBarIndex](DHigh(1)) monthlyLow = Lowest[BarIndex - lastMonthBarIndex](DLow(1)) lastMonthBarIndex = BarIndex monthlyPivot = (Dclose(1) + monthlyHigh + monthlyLow) / 3 ENDIF MM1 = AVERAGE[7](CLOSE) GRAPH monthlypivot GRAPH lastmonthBarIndex C1 = MM1 CROSSES OVER MONTHLYPIVOT IF NOT LONGONMARKET AND C1 THEN BUY 1 CONTRACTS AT MARKET SET STOP %LOSS 2 SET TARGET %PROFIT 5 ENDIF

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  DEFPARAM CUMULATEORDERS = FALSE defparam preloadbars = 20000   Once lastMonthBarIndex = 0   If Month <> Month[1] then monthlyHigh = Highest[BarIndex - lastMonthBarIndex](DHigh(1)) monthlyLow = Lowest[BarIndex - lastMonthBarIndex](DLow(1)) lastMonthBarIndex = BarIndex monthlyPivot = (Dclose(1) + monthlyHigh + monthlyLow) / 3 ENDIF   MM1 = AVERAGE[7](CLOSE)   GRAPH monthlypivot GRAPH lastmonthBarIndex     C1 = MM1 CROSSES OVER MONTHLYPIVOT   IF NOT LONGONMARKET AND C1 THEN BUY 1 CONTRACTS AT MARKET   SET STOP %LOSS 2 SET TARGET %PROFIT 5 ENDIF

  Your calculation of the monthly pivot were not good because you took the actual timeframe OHLC, which should be the Daily one that you can retrieve with DOPEN/DHIGH/DLOW/DCLOSE. I also add some bars to be preloaded in case it is needed.

   

  

  Nicolas

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  07/13/2016 at 10:17 AM #10444
  filiprb

  Thank you Nicolas, i appreciate this! 🙂

  

  filiprb

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  09/18/2016 at 5:46 PM #13239
  pivottrader

  Hi Guys

  I’m struggling with my monthly and weekly pivots. This is my code (PS – I’m not really following the logic. Just copying and trying to adjust here and there):

  Once lastMonthBarIndex = 0 If Month <> Month[1] then monthlyHigh = Highest[BarIndex - lastMonthBarIndex](DHigh(1)) monthlyLow = Lowest[BarIndex - lastMonthBarIndex](DLow(1)) lastMonthBarIndex = BarIndex monthlyPivot = (Dclose(1) + monthlyHigh + monthlyLow) / 3 ENDIF return monthlyPivot as "MPivot"

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  Once lastMonthBarIndex = 0   If Month <> Month[1] then monthlyHigh = Highest[BarIndex - lastMonthBarIndex](DHigh(1)) monthlyLow = Lowest[BarIndex - lastMonthBarIndex](DLow(1)) lastMonthBarIndex = BarIndex monthlyPivot = (Dclose(1) + monthlyHigh + monthlyLow) / 3 ENDIF   return monthlyPivot as "MPivot"

  However, my last month data is as follows:

  MHigh = 47144

  MLow = 44802

  MClose = 46201

  MOpen = 46201

  If I use the classic pivot calculation of (last month high + last month low + last month close) / 3 I get 46049. However the system shows a pivot of 46253? Why would it differ? How can I fix it please?

  Thanks and regards

  

  pivottrader

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  09/18/2016 at 7:00 PM #13242
  Nicolas

  Maybe you can try first to see what values are returned by the calculation of the code and find how and why they are the ones actually calculated by it.

  return monthlyPivot as "MPivot", monthlyHigh as "high", monthlylow as "low", Dclose(1) as "monthly close"

  1	return monthlyPivot as "MPivot", monthlyHigh as "high", monthlylow as "low", Dclose(1) as "monthly close"

   

  

  Nicolas

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