Registered User Joined: 6/15/2015 Posts: 4
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Hi. I'm getting the same pivot point value on almost all intraday timeframes (from 2 min to 4 hours).
But the 1 minute chart shows different values.
(For example, UVXY pivot point right now is $54.12 on 1min chart, versus $55.04 on any other timeframe.)
Is this caused by some kind of limitation on the amount of candles back it is based on for calculations?
Can this problem be avoided? It's important since I do trade on 1 min chart for the first part of the day.
Thank you.
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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This can be an issue once there is a new day but before the market opens in a 1-minute time frame.
The reason is there are 390 one minute bars for most stocks in a normal trading day and that adds up to 780 bars.
Each day starts with the most recent 500 bars of data available in each time frame and then adds new bars to this throughout the trading day if applicable. This means a stock will normally have 890 bars of one minute data at the end of the trading day.
So once the market opens, the 500 bars of data should cover the 390 bars of the previous trading day, but prior to market open those same 500 bars of data are not enough to get you to the 780 required for the day before that.
There really isn't any sort of workaround which comes to mind besides switching to a 2-minute or longer time frame. Thank you for your suggestion.
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