TzPivots

[Bokkie]

It's for MT4, no I don't get any error messages. Just compiling......
But don't worry, I've found another Pivot indicator which downloaded and works perfectly. Thanks for your response anyway. Cheers.

 

[s3ba5t13n]

Hi,
Does any of you know what determine the sweet spot , what is particularity?

 

[widhie75]

I just download latest MT5 'TzPivots' and it seems previous bug still unfixed (Unstable value of Res/Sup/Pivot/YH-YL lines).

For Example:
Today correct Pivot is 1.5532... but if I move mouse slightly up/down, then the Pivot value description also changing into 1.5533 or 1.5529 , etc...

It might 'TzPivots' wrong calculating mouse pointer. (I'm not sure about this, coz I'm not programmer)

*. Can someone correct this bug, so 'TzPivots' for MT5 showing only fixed line value (not affected by mouse movement)?
*. How about add some settings, such as font & size,,,, color R/S/Pivot/Daily Open Price/etc,,,

 

[Enivid]

I cannot recreate this bug. What timeframe, currency pair and input parameters did you use?

Attaching some screenshots could also help.

 

[widhie75]

This is TzPivots bug which I found in my MT5.



The real value for Support Line 1 (S1) is 1.5478 ,,,, but when mouse move slightly below/upper S1, it showing 1.5476 or any other value (it should be showing same 1.5478)......

and this is what I mean about 'unstable value',,,, so maybe TzPivots read mouse pointer uncorrectly & It happen in all timeframe & all pair.

 

[Enivid]

Oh, now I see. It is not a bug really, but a rather weird MT5 behavior. When a trendline is drawn between two equal price levels it is not treated as a horizontal line (as it logically would be treated). And the indicator has to use trendline objects in stead of horizontal line objects because horizontal lines are always infinite in MT5. I am sending report about this issue to MQL5 Service Desk. Meanwhile, you can always refer to the lines' labels for the real levels.

 

[Maverick]

Please clarify these settings:

• LocalTimeZone (default = 0) — the timezone of your MT4 or MT5 server. For example, if your server is in New York you should set this parameter to -5.
• DestTimeZone (default = 0) — the timezone of the trading session you are using to trade in. For example if you trade in London set this parameter to 0.

I live and trade in the UK which is currently GMT +1 (BST) . . . My broker is plus 2 hours

It's obviously interpretation of the English language

I would have thought LocalTimeZone = ComputerTime

DestTimeZone = ChartTime

BUT NOT according to Enivid and the way I read it . . . H'mmm

Will I have to change the settings when BST ends and we go back to GMT ?

Could Metatrader not pick up Computer time and Chart time ?
.

​

 

[Enivid]

In your case, you would need to set LocalTimeZone = 2 and DestTimeZone = 1. When BST ends, you would need to change DestTimeZone to 0.

I did not code this indicator - only converted it to MT5. Moreover, it was created before TimeGMTOffset() and TimeGMT() functions have been added to MetaTrader. So, it could not detect the timezones automatically. Also, in many cases, traders would want the indicator to display trading sessions not based on their location. E.g., I live in GMT+3. Who cares about GMT+3 Forex trading session?

 

[Maverick]

I understand it is not your creation and you are not responsible for the calculations used BUT they are wrong or at least they don't agree with http://www.livecharts.co.uk/Members/display_stock_pivots.php

I thought there was only one recognized formula for the calculations http://www.investopedia.com/ask/answers/forex/forex-pivot-points.asp

Looks like I will have to keep looking elsewhere . . . C'est la vie

FYI

R3 10273.30 R2 10176.70 R1 10273.30 PL 9931.70 S1 9783.30 S2 9686.70 S3 9538.30 . . . Indicator

R3 10254.25 R2 10166.23 R1 10014.17 PL 9926.15 S1 9774.09 S2 9686.07 S3 9534.01 . . . LiveCharts

These figures should not be affected by any time zone variable

If LiveCharts are the recognized figures then they will be the figures the market is following
.

 

[Maverick]

A'hhh I am beginning to see where the discrepancy might arise . . . LiveCharts takes it's data from Yahoo

Would have thought data was data though

 

[Enivid]

Actually, there are several formulas for pivot points calculation. Four of them are listed here:
http://www.earnforex.com/pivot-points-calculator/

However, TzPivots uses the most basic formula - floor pivots. It uses whole 24 hours from the previous trading session to calculate the PP.

 

[Maverick]

H'mmm - it's needing to know which levels everybody else is looking at - levels with the most influence and Yahoo are a big player

I will probably see how much time and effort it takes everyday to input the LiveCharts data - The problem with yours is ascertaining the Open - High - Low & Close before you even start

Once I get the 7 lines on the chart it should be no more than 5 minutes to update

 

[Winner99]

Dear Admin,
Would like to seek your kind assistance to relocate the comment to the top right corner, thank you.

 

[Enivid]

@Winner99 OK, I will add this in the next version.

 

[Winner99]

Thank you for your quick response.
When you will update, or you will notify me when you update?

 

[Enivid]

When you will update, or you will notify me when you update?

Not too soon probably. I will post here when the new version is out.

 

[Winner99]

Not too soon probably. I will post here when the new version is out.

Possible you can modify it to enable to show previous days pivot points? Thanks