Daily - Pivot Points

PLEASE READ ALL NOTES BEFORE USING!

If the chart window shrinks the price bars too much when the pivot point indicator is added, remove the pivot point indicator from the chart and then DISABLE the Auto-Size Vertically option before reattaching the indicator. Once reattached, you can manually Zoom In Vertically to re-adjust the chart scaling as desired.

Attaching this indicator to a tick Chart Interval is NOT possible due to the limitation of history data available in VTtrader. Attaching this indicator to a Daily, Weekly, or Monthly chart is also NOT possible since the pivot calculations are not designed for those intervals.

It is suggested to increase the number of bars loaded into the charts before using this indicator. The History Length can be Set using:

VTtrader > Navigator Window > Options Bookmark > Properties > General > General Properties > Communication Bookmark

Recommended History Lengths:

600+ bars are required for 5-Minute chart intervals or higher intraday intervals
3,000+ bars are required for 1-Minute chart interval

The Pivot Points daily auto-update time (in EST) is user-adjustable. Using the default settings, the Daily Pivot Points are calculated at 5:00 PM EST each day (StartHour=17 and StartMinute=0) using the previous 24 hour period. If calculating the pivots on Friday (for use on Sunday and Monday), it is recommended to use 4:00 PM EST (StartHour=16) instead of 5:00 PM EST; Why? Your particular forex broker may close the market earlier than 5:00 PM EST on Friday; if this happens there is no value for 5:00 PM EST which causes the indicator to NOT display.

IMPORTANT NOTE: If the user-chosen StartHour value and/or StartMinute value does not exist on the chart interval being used, the pivots will NOT display! For example, on a 2H chart using StartHour=17 and/or StartMinute=22 would NOT be acceptable; however, StartHour=18 and StartMinute=0 would be acceptable.

© Help for New Traders