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Pivot Point R4 and S4 Rate this Topic:
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Snegir
Posted : Thursday, March 10, 2011 12:22:25 PM
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Joined: 10/7/2004
Posts: 80
Please help me with the formulas that can be used to calculate Pivot Points R4 and S4 in TC2007
Bruce_L
Posted : Thursday, March 10, 2011 1:04:31 PM


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Joined: 10/7/2004
Posts: 65,138
R4:
(7 * H1 - 5 * L1 + C1) / 3

R3:
(5 * H1 - 4 * L1 + 2 * C1) / 3

R2:
(4 * H1 - 2 * L1 + C1) / 3

R1:
(2 * H1 - L1 + 2 * C1) / 3

PP:
(H1 + L1 + C1) / 3

S1:
(2 * L1 - H1 + 2 * C1) / 3

S2:
(4 * L1 - 2 * H1 + C1) / 3

S3:
(5 * L1 - 4 * H1 + 2 * C1) / 3

S4:
(7 * L1 - 5 * H1 + C1) / 3

How to create a Personal Criteria Forumula (PCF)
PCF Formula Descriptions
Handy PCF example formulas to help you learn the syntax of PCFs!

-Bruce
Personal Criteria Formulas
TC2000 Support Articles
Snegir
Posted : Thursday, March 10, 2011 1:31:04 PM
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Joined: 10/7/2004
Posts: 80
Thank you. But apparently z different set of formulas is used in TC2000 in calculation of Pivot Points. Could you offer a clue what formulas are used in TC2000.
Bruce_L
Posted : Thursday, March 10, 2011 2:45:14 PM


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Joined: 10/7/2004
Posts: 65,138
Please try the formulas again. If they still do not work, please provide specific examples.

-Bruce
Personal Criteria Formulas
TC2000 Support Articles
Snegir
Posted : Thursday, March 10, 2011 3:24:02 PM
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Joined: 10/7/2004
Posts: 80
Examples. TNA: PP S1: TC2000 - 80.67 Your formula: 78.87PP S2: TC2000 – 79.54 Your formula: 74.85 PP S3: TC2000 – 78.23 Your formula: 72.31 Very different results.
Bruce_L
Posted : Thursday, March 10, 2011 3:42:33 PM


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Joined: 10/7/2004
Posts: 65,138
What Time Frame are you using? The calculations for the Pivot Points are Daily.

I have the Personal Criteria Formulas as WatchList Columns set to 3 Decimal Places in the TC2000.com version 11 beta using a Daily Time Frame and the Column Values match the Chart Values exactly as long as the Chart is Daily.

TNA - R3: 85.573, R2:84.437, R1:83.133, PP:81.997, S1:80.693, S2:79.557, S3:78.253

-Bruce
Personal Criteria Formulas
TC2000 Support Articles
Snegir
Posted : Thursday, March 10, 2011 4:10:04 PM
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Joined: 10/7/2004
Posts: 80
I used Hourly Chart. Pivot Points for Hourly Chart differ only slightly from PP on Daily Chart. While if to calculate PP using formulas you suggested, the difference between them and PP in TC2000 appears significant as indicated in my previous post.
Bruce_L
Posted : Thursday, March 10, 2011 4:18:55 PM


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Joined: 10/7/2004
Posts: 65,138
The Pivot Points are Daily and the formulas need to be Daily as well.

If the Time Frame on the Chart is shorter than Daily, the Pivot Points are still calculated using Daily Values for H1, L1 and C1. The only difference is that the Daily H1, L1 and C1 are just constructed from the Bars that are actually being Plotted for the shorter Time Frame. Most of the time constructing a Daily H1 from 1 Minute Bars produces the same Value as the Daily H1 taken from a Daily Bar, but sometimes it differs slightly.

The only time the Pivot Points don't use Daily Values for H1, L1 and C1 is when the Time Frame is longer than Daily. In such cases, using the Charted Time Frame for the PCF should produce the same results as the Chart Pivot Points.

-Bruce
Personal Criteria Formulas
TC2000 Support Articles
thallstd
Posted : Wednesday, January 16, 2013 1:08:51 AM
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Joined: 1/6/2013
Posts: 31

Hi Bruce.

Some questions on this.

What I want to do is compare the current price on a 15 minute chart with the current pivot point.

You indicate that pivot point is only accurate if computed daily and that seems to be true.  If I create 1 min, 15 min and daily pivot indicators using the (H1 + L1 + C1) / 3 formula, only the daily matches the value on the chart.

However, if I export the data from a one minute chart, the pivot value changes every minute.  If it were computed daily it shouldn't change minute by minute.  

Also, if I click on the chart's pivot indicator and choose Show Values in WatchList, the subsequent dialog allows selection of any time frame.  If I choose 15 minute it then matches the value on my 15 minute chart.

Very odd...

Has pivot point calculation changed in v12.3?

 

Bruce_L
Posted : Wednesday, January 16, 2013 9:11:33 AM


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Joined: 10/7/2004
Posts: 65,138

You would appear to have uncovered a bug in the export of the built in Pivot Point indicator. I do not know what the values represent as they do not match pivot point formula results for the same time frame. It is possibly displaying the results of some intermediate calculations, but I really could not say.

While you can change the time frame of the WatchList Columns of the Pivot Points, they do seem to still display Daily Pivot Point calculations (or at least Daily results as constructed from the shorter Time Frame).

The program may have changed in that I do not remember being able to use the built in Pivot Point indicator in Conditions, WatchList Columns or Exports, but it could just be me misremembering or never trying to do so in the first place (although it seems likely that I would have at least tried creating Conditions at the time of the original request).



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
thallstd
Posted : Wednesday, January 16, 2013 10:44:45 AM
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Joined: 1/6/2013
Posts: 31

So...

PP is only valid during a daily time frame.

I want to compare the current price on a 15 minute chart to it.  The current price seems to be the same no matter what the time frame so for the time being I can use a daily time frame and a separate columnfor that condition.

However...

(another feature request)

It would open up a lot of possibilities if there were 2 additional capabilities built into the column properties themselves: (1) visible or hidden (2) Column condition and indicator formulas that allows comparisons and math between two columns, [ie (col A > col B), (Col A * Col B) ...etc]

With these additions, I could have a hidden column tied to a condition or indicator using one time frame, a hidden column tied to a condition or indicator using a different time frame and a visible column showing the comparison of the two.

And a separate but vastly simpler request.  Add the ability in the column properties to also issue an alert when a condition is true.   

Thanks,

Ty

 

Bruce_L
Posted : Wednesday, January 16, 2013 1:00:28 PM


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Joined: 10/7/2004
Posts: 65,138

Thank you for your suggestions. I have submitted your WatchList Column visible/hidden and math/comparison suggestions as case number 9894.

Could you please clarify the details of how you want to your WatchList Column Alert suggestion to work? Alerts are currently created for a single symbol at a time. Are you suggested Alerts be generated based on the results of an entire WatchList of Condition Columns at the same time? If you are not suggesting an actual Alert, how would it differ from current WatchList Columns based on Conditions which can display things such as checkmarks when the Condition is true for the symbol?



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
thallstd
Posted : Wednesday, January 16, 2013 1:28:37 PM
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Joined: 1/6/2013
Posts: 31

Yes, clarification is in order.  My fault.

I didn't mean an alert dialog, I meant a sound alert - like a beep, ding, boing or whatever, tied to the same condition that now sets the dots or checkmarks.  In watchlists where lots of conditions are true I wouldn't want a sound.

But for that rare condition that signals either a buy or the need for a much closer look, it would be helpful.  I'm looking at intraday 15 minute charts, conditions and indicators.  When they refresh it would be great if a sound could be issued to pull my attention away from my other activities.

Thanks,

Ty

PS  Is there any way to review the cases to see what tatus they are in?

Bruce_L
Posted : Wednesday, January 16, 2013 2:01:01 PM


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Joined: 10/7/2004
Posts: 65,138

Thank you for your suggestion. It has been assigned case number 9897.

The database is not publicly available. You could contact technical support and they should be able look up the bug or suggestion using the case number, but this would probably not give either you or the technical support agent any insight into when a bug fix or suggestion is going to be implemented.



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
thallstd
Posted : Friday, January 18, 2013 12:26:45 PM
Registered User
Joined: 1/6/2013
Posts: 31

Another question re your comment on pivot point: "The Pivot Points are Daily and the formulas need to be Daily as well."

Based on your formula [PP=(H1 + L1 + C1) / 3], pivot is nothing but the avg of the prior period high, low and close.  So why is it only valid for a daily time frame.  If using a 1 minute or 1 hour chart, doesn't each bar have the H-L-C of that period?  If so, isn't the pivot computed from those values just as valid for that chart (at least as a reflection of the avg) as the daily pivot is for the daily?

Ty

 

Bruce_L
Posted : Friday, January 18, 2013 12:42:09 PM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

My point was simply that if you want the results of the pivot point calculations to match the built in pivot point indicator, then the time frame of the formulas need to be daily because the time frame of the built in pivot point indicator is daily.

Besides not matching the built in pivot point indicator or most technical analysts definition of what constitutes pivot points, there is nothing mathematically invalid about using the pivot point calculations on something besides daily bars.



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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