Feature Request: Pivots Points for regular trading hours

Jan

Well-known member
Joined
Apr 2, 2021
Posts
61
Likes
41
Currently the pivot points are computed for extended hours only in futures, no matter if extended hours is checked or not. I am not sure about stocks. I was told by the Motivewave team that daily candles are used to compute the pivots and that it's not easy therefore to change the code to do RTH hours only. But I think this is such an important feature, therefore it should be added. Everyone looks at RTH hour pivots. It's a shame that RTH hour pivots are not available in a software that is otherwise so comprehensive.
 

ScottyA

Well-known member
Joined
Aug 1, 2019
Posts
271
Likes
183
The MotiveWave Pivots align very closely with many other platforms, such as SC and NT8. It's a rare day when the numbers are so off that it's unworkable, but it does happen.

I use Pivots for my futures trading, and based on years of comparison to other charts in an online trading room, we more-often-than-not line up.
 

Jan

Well-known member
Joined
Apr 2, 2021
Posts
61
Likes
41
There are two sets of pivots: Extended hour pivots that use the range that ES moves within 24 hours plus the corresponding close. And there are regular trading hour pivots, or also called pit session pivots, or floor traders pivots, which use the range and the close of the hours from 9:30 am till 4:00 pm (Essentially SPX pivots). Those are by no means similar at all. It really doesn't depend on the software you use.

Currently Motivewave cannot compute the regular trading hour pivots for symbols like ES. Even though they are widely used.
 

ScottyA

Well-known member
Joined
Aug 1, 2019
Posts
271
Likes
183
Good to know. Thanks for the info!

Why don't you find someone to code them for you? There are a lot of great developers on this forum.
 
  • Like
Reactions: Jan

danielputra

Active member
Joined
Jul 22, 2021
Posts
28
Likes
51
Jan, there are quite a few pivot related studies available in MotiveWave like OHLC. It has 3 RTH data settings which might suite your needs. It works in my charts with the ES, adjusting itself if I have switched on/off extended hours. This relates to intraday charts.

Or are you referring to a daily chart timeframe?
 

Jan

Well-known member
Joined
Apr 2, 2021
Posts
61
Likes
41
Jan, there are quite a few pivot related studies available in MotiveWave like OHLC. It has 3 RTH data settings which might suite your needs. It works in my charts with the ES, adjusting itself if I have switched on/off extended hours. This relates to intraday charts.

Or are you referring to a daily chart timeframe?

Sorry, I mean the Pivot Points study. Essentially it needs a setting like the VWAP study or the OHLC study that you mentioned.

1629240487565.png
1629240535265.png
 

Jan

Well-known member
Joined
Apr 2, 2021
Posts
61
Likes
41
Good to know. Thanks for the info!

Why don't you find someone to code them for you? There are a lot of great developers on this forum.

Maybe. Potentially I could also do it myself. My solution right now is to use an additional data feed that has symbols that are regular trading hours only.
 

danielputra

Active member
Joined
Jul 22, 2021
Posts
28
Likes
51
Sorry, I mean the Pivot Points study. Essentially it needs a setting like the VWAP study or the OHLC study that you mentioned.

View attachment 937
View attachment 938
Thanks for clarifying. This study com.motivewave.platform.study.overlay.PivotPoints has a check for ctx.isRTH() in the code which works based on chart setting "Show Extended Data" (right-click via the mouse onto the chart, see context menu). Maybe this helps.
 

Jan

Well-known member
Joined
Apr 2, 2021
Posts
61
Likes
41
Thanks for clarifying. This study com.motivewave.platform.study.overlay.PivotPoints has a check for ctx.isRTH() in the code which works based on chart setting "Show Extended Data" (right-click via the mouse onto the chart, see context menu). Maybe this helps.
I am not sure what this all means. Hiding the extended data does not change the computation of the pivots. Do I have to change the code for the indicator somehow?
 

danielputra

Active member
Joined
Jul 22, 2021
Posts
28
Likes
51
I am not sure what this all means. Hiding the extended data does not change the computation of the pivots. Do I have to change the code for the indicator somehow?
If this change in the menu makes no difference, there must be a problem in the code. Various methods take an isRTH parameter which you can get via dataContext.isRTH(). So one more more of these might have hard coded this instead of using dataContext.isRTH().

I coded my own pivots (work different to what you are looking for) and I added consideration to my code for RTH. If I toggle the menu, it reflects this correctly in the chart. Therefore I know that in principle this works.
 
  • Like
Reactions: Jan

Jan

Well-known member
Joined
Apr 2, 2021
Posts
61
Likes
41
If this change in the menu makes no difference, there must be a problem in the code. Various methods take an isRTH parameter which you can get via dataContext.isRTH(). So one more more of these might have hard coded this instead of using dataContext.isRTH().

I coded my own pivots (work different to what you are looking for) and I added consideration to my code for RTH. If I toggle the menu, it reflects this correctly in the chart. Therefore I know that in principle this works.
I talked with support about this. They said that their pivots are based on daily candles. And because there is only one set of daily candles, the pivots don’t change when extended hours is unchecked. They said it’s not easy to change the code to use intraday bars, and therefore it is questionable if this will be implemented. As far as I remember they said it’s not a priority right now.

I could also program my own pivots. I did that for Tradestation, because I needed Fibonacci pivots and the software that i used before Motivewave was largely Tradestation. Additionally Motivewave only has the first few Fibonacci level pivots, that’s also something I talked with support about, but so far no changes. I have never programmed an indicator for Motivewave, but I know Java and have programmed stuff for Bookmap. Maybe I should try…

Question: Where did you find the code for the built in indicator?
 
Last edited:

danielputra

Active member
Joined
Jul 22, 2021
Posts
28
Likes
51
Thank you Jan for sharing the feedback.
You can download the JavaDoc and the source code for the many studies from https://www.motivewave.com/support/sdk.htm
There are so many examples from so many different angles which makes it relatively easy to get going as you know already Java.

The first 8 hours are obviously hard while you familiarise yourself with the methods and naming conventions. But this is the same familiar struggle as for every new project.
 
Top