Nifty Intraday Pivot Points
- Thread starter SavantGarde
- Start date
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Hi Suresh,
This Is Very Specific To Index Futures Viz. Nifty Future & BankNifty Future.
You Normally Calculate Your Pivots Based On EOD....& If You Want To Calculate During Market, Then It Would Have To Be Based On 60 Min. OHLC.
Anything Lower In Terms Of Time Frame For Trading & Calculating Pivot Is Not Worth It For Index Futures.
You See Through Your Experiment As To What Works & What Doesn't.
Happy & Safer Trading
SavantGarde
This Is Very Specific To Index Futures Viz. Nifty Future & BankNifty Future.
You Normally Calculate Your Pivots Based On EOD....& If You Want To Calculate During Market, Then It Would Have To Be Based On 60 Min. OHLC.
Anything Lower In Terms Of Time Frame For Trading & Calculating Pivot Is Not Worth It For Index Futures.
You See Through Your Experiment As To What Works & What Doesn't.
Happy & Safer Trading
SavantGarde
Dear Savant Ji
I have coded the system to automatically generate the pivot points and plot them for hourly, daily, weekly. There is a minor issue about the data correctness to the second decimal which I am working with amibroker support team, otherwise the charts looks good.
1. The same algorithm is used for generating hourly pivot points, is it right thing to do or there is a different algorithm?
2. Are the pivot points equally effective in the intermediate term market. i.e. does the market respect the pivot points generated using the weekly OHLC data, to take a position for a few days.
3. What is the best tool to use for confirmation of the crossing of the pivot point? i.e. RSI, Stochastics, macd, .... to avoid whipsaws
4. What are the other systems that can be used in conjunction or for confirmation or standalone trading systems alongwith pivot point trading system? i.e. turtle, vpa, ema crossovers
5. I noticed that you have worked upon/analysed the pride system using multitimeframe. I have designed it and refined it a bit. What are your views on it? One of my issues is not all stocks will respond to 5/13 ema crossover, not only that but they may not respond to the 5/13 ema for short and long both. How to manage that variance in the system or is there any ideal fast/slow ema parameters generally or stockwise.
6. For now, my biggest issue is Exit algorithm. I am still struggling to design an exit strategy, which produces results satisfactory to my standards. I mean, I exit the position too early and sometimes it is so late that all the notional profit gets wiped off and I have to make a run to save the investment. Please advise/direct/suggest me on your experience and how to go about exploring other possibilities.
7. Any other system fundamentals you think will suit my objectives, such as swing trading, position trading, candlestick, ....
Entry points, I am nearly there based on my back tests. Long entry is excellent and short entry is good. But I believe there is always a scope for improvement.
There are lot more questions which are in my head. How do I confirm with you that the comprehensive system I am developing is on the right track?
Savant ji, my first objective is within the first three months of testing this system, to generate an income enough to sustain my lifestyle as such I want to make sure that I win every month on average. I can work harder for it and with your guidance I am confident that I will achieve my goal quicker than what it will take to do on my own.
Thank you for reading my long message
Thanks and Regards
suresh.mathur g m a i l
I have coded the system to automatically generate the pivot points and plot them for hourly, daily, weekly. There is a minor issue about the data correctness to the second decimal which I am working with amibroker support team, otherwise the charts looks good.
1. The same algorithm is used for generating hourly pivot points, is it right thing to do or there is a different algorithm?
2. Are the pivot points equally effective in the intermediate term market. i.e. does the market respect the pivot points generated using the weekly OHLC data, to take a position for a few days.
3. What is the best tool to use for confirmation of the crossing of the pivot point? i.e. RSI, Stochastics, macd, .... to avoid whipsaws
4. What are the other systems that can be used in conjunction or for confirmation or standalone trading systems alongwith pivot point trading system? i.e. turtle, vpa, ema crossovers
5. I noticed that you have worked upon/analysed the pride system using multitimeframe. I have designed it and refined it a bit. What are your views on it? One of my issues is not all stocks will respond to 5/13 ema crossover, not only that but they may not respond to the 5/13 ema for short and long both. How to manage that variance in the system or is there any ideal fast/slow ema parameters generally or stockwise.
6. For now, my biggest issue is Exit algorithm. I am still struggling to design an exit strategy, which produces results satisfactory to my standards. I mean, I exit the position too early and sometimes it is so late that all the notional profit gets wiped off and I have to make a run to save the investment. Please advise/direct/suggest me on your experience and how to go about exploring other possibilities.
7. Any other system fundamentals you think will suit my objectives, such as swing trading, position trading, candlestick, ....
Entry points, I am nearly there based on my back tests. Long entry is excellent and short entry is good. But I believe there is always a scope for improvement.
There are lot more questions which are in my head. How do I confirm with you that the comprehensive system I am developing is on the right track?
Savant ji, my first objective is within the first three months of testing this system, to generate an income enough to sustain my lifestyle as such I want to make sure that I win every month on average. I can work harder for it and with your guidance I am confident that I will achieve my goal quicker than what it will take to do on my own.
Thank you for reading my long message
Thanks and Regards
suresh.mathur g m a i l
Last edited:
Hi Suresh,
Correct - Same Algo Should Be Used
Since I Have Yet To See Your Pivots....Effectiveness Can't Be Speculated
Stochastic & SMA Crossover Is My Personal Choice...But Can't Really Say Anything About RSI & MACD Or Others....Since I Have Not Looked Into...& Hence It Would Not Be Fair To Discard Them Either.
There Are 3 Trading Strategies With Entry & Exit In The Thread 'Trading The Bars' Of Equity Section.....Although They Were Outlined For FX, It Should Work Well With NF & BNF....But You Will Need To Put Them To Test.
I Have Just Had A Look At The Charts Posted There With Entry & Exit Of Pride's System, In My Opinion They Give Away Much More In Profit, Waiting For Both The Crossover & Stochastic To Confirm....Entries....Just To Maintain 'Profit Everyday' & My Comment If Any Was For 30 Min. Which Isn't Advisable, In My Opinion.
Until I Actually See The System, Difficult & Not Fair To Comment.
I Am A Positional Trader...Therefore Any View On My Part Will Always Be Biased Towards Positional....Therefore Somebody Else Will Need To Play The Devil's Advocate On This.
Even The Best System Can Look Bad During Certain Market Conditions...Therefore Tweaks For Different Market Conditions Will Need To Worked Upon....While There Is No Solution For Extremely Choppy Market Conditions.
I Am Not Good At Mind Reading...Therefore Difficult To Reply To This.
Happy & Safer Trading
SavantGarde
Correct - Same Algo Should Be Used
Since I Have Yet To See Your Pivots....Effectiveness Can't Be Speculated
Stochastic & SMA Crossover Is My Personal Choice...But Can't Really Say Anything About RSI & MACD Or Others....Since I Have Not Looked Into...& Hence It Would Not Be Fair To Discard Them Either.
There Are 3 Trading Strategies With Entry & Exit In The Thread 'Trading The Bars' Of Equity Section.....Although They Were Outlined For FX, It Should Work Well With NF & BNF....But You Will Need To Put Them To Test.
I Have Just Had A Look At The Charts Posted There With Entry & Exit Of Pride's System, In My Opinion They Give Away Much More In Profit, Waiting For Both The Crossover & Stochastic To Confirm....Entries....Just To Maintain 'Profit Everyday' & My Comment If Any Was For 30 Min. Which Isn't Advisable, In My Opinion.
Until I Actually See The System, Difficult & Not Fair To Comment.
I Am A Positional Trader...Therefore Any View On My Part Will Always Be Biased Towards Positional....Therefore Somebody Else Will Need To Play The Devil's Advocate On This.
Even The Best System Can Look Bad During Certain Market Conditions...Therefore Tweaks For Different Market Conditions Will Need To Worked Upon....While There Is No Solution For Extremely Choppy Market Conditions.
I Am Not Good At Mind Reading...Therefore Difficult To Reply To This.
Happy & Safer Trading
SavantGarde
Hi Suresh,
Thank you very much for your prompt response.
Correct - Same Algo Should Be Used
Since I Have Yet To See Your Pivots....Effectiveness Can't Be Speculated The values generated are exactly same as yours with a point difference (sometimes) due to rounding. However, I have not figured out when your calculations omit certain supports or resistance.
Stochastic & SMA Crossover Is My Personal Choice...But Can't Really Say Anything About RSI & MACD Or Others....Since I Have Not Looked Into...& Hence It Would Not Be Fair To Discard Them Either.
SMA = simple moving average? to be sure
There Are 3 Trading Strategies With Entry & Exit In The Thread 'Trading The Bars' Of Equity Section.....Although They Were Outlined For FX, It Should Work Well With NF & BNF....But You Will Need To Put Them To Test.
Will do that.
I Have Just Had A Look At The Charts Posted There With Entry & Exit Of Pride's System, In My Opinion They Give Away Much More In Profit, Waiting For Both The Crossover & Stochastic To Confirm....Entries....Just To Maintain 'Profit Everyday' & My Comment If Any Was For 30 Min. Which Isn't Advisable, In My Opinion.
I found that post from you on that thread, and hence investigating on how multiple combinations work together. i.e. 5, 10, 15, 30, 60. For now the best results are achieved with 5,10 or 5,15. Entry when 5 min stochk is positive with lower value and stochk10/stoch15 is about to get bullish (bearish and stochk15 moving upwards) and ema crossover gives early results sometimes. In certain instances it gave early signals although the system needs to be refined further.
Until I Actually See The System, Difficult & Not Fair To Comment.
BTW, Which TA software you are using?
I Am A Positional Trader...Therefore Any View On My Part Will Always Be Biased Towards Positional....Therefore Somebody Else Will Need To Play The Devil's Advocate On This.
Even The Best System Can Look Bad During Certain Market Conditions...Therefore Tweaks For Different Market Conditions Will Need To Worked Upon....While There Is No Solution For Extremely Choppy Market Conditions.
Savantji, some articles on internet refer to use "Average True Range" indicator to identify the choppy markets. I have not been able to use it in effective manner. Your opinion.
I Am Not Good At Mind Reading...Therefore Difficult To Reply To This.
I have selected some high liquidity/normal to high beta stocks and run a continuous exploration (every minute) to find certain conditions/events happening on certain stocks. Let us say I leave the exploration running to speak out when the stock crosses its main pivot point so it gives me opportunity to trade in few stocks and generates few trade opportunities. Your pros and cons on this strategy.
Savantji, where do I send the stuff:
Paste it on this forum or through an email. if email I do not have yours.
What do I send, charts/afls/algorithms?
Thanks again for your invaluable support.
Best Regards
Suresh
Thank you very much for your prompt response.
Correct - Same Algo Should Be Used
Since I Have Yet To See Your Pivots....Effectiveness Can't Be Speculated The values generated are exactly same as yours with a point difference (sometimes) due to rounding. However, I have not figured out when your calculations omit certain supports or resistance.
Stochastic & SMA Crossover Is My Personal Choice...But Can't Really Say Anything About RSI & MACD Or Others....Since I Have Not Looked Into...& Hence It Would Not Be Fair To Discard Them Either.
SMA = simple moving average? to be sure
There Are 3 Trading Strategies With Entry & Exit In The Thread 'Trading The Bars' Of Equity Section.....Although They Were Outlined For FX, It Should Work Well With NF & BNF....But You Will Need To Put Them To Test.
Will do that.
I Have Just Had A Look At The Charts Posted There With Entry & Exit Of Pride's System, In My Opinion They Give Away Much More In Profit, Waiting For Both The Crossover & Stochastic To Confirm....Entries....Just To Maintain 'Profit Everyday' & My Comment If Any Was For 30 Min. Which Isn't Advisable, In My Opinion.
I found that post from you on that thread, and hence investigating on how multiple combinations work together. i.e. 5, 10, 15, 30, 60. For now the best results are achieved with 5,10 or 5,15. Entry when 5 min stochk is positive with lower value and stochk10/stoch15 is about to get bullish (bearish and stochk15 moving upwards) and ema crossover gives early results sometimes. In certain instances it gave early signals although the system needs to be refined further.
Until I Actually See The System, Difficult & Not Fair To Comment.
BTW, Which TA software you are using?
I Am A Positional Trader...Therefore Any View On My Part Will Always Be Biased Towards Positional....Therefore Somebody Else Will Need To Play The Devil's Advocate On This.
Even The Best System Can Look Bad During Certain Market Conditions...Therefore Tweaks For Different Market Conditions Will Need To Worked Upon....While There Is No Solution For Extremely Choppy Market Conditions.
Savantji, some articles on internet refer to use "Average True Range" indicator to identify the choppy markets. I have not been able to use it in effective manner. Your opinion.
I Am Not Good At Mind Reading...Therefore Difficult To Reply To This.
I have selected some high liquidity/normal to high beta stocks and run a continuous exploration (every minute) to find certain conditions/events happening on certain stocks. Let us say I leave the exploration running to speak out when the stock crosses its main pivot point so it gives me opportunity to trade in few stocks and generates few trade opportunities. Your pros and cons on this strategy.
Savantji, where do I send the stuff:
Paste it on this forum or through an email. if email I do not have yours.
What do I send, charts/afls/algorithms?
Thanks again for your invaluable support.
Best Regards
Suresh
hello Savantji
I am attaching a screen shot of pivot points for September 11
R05, R10, R15, R20, .... are R1, R2, R3, R4, ...
similarly S05, S10, S15, S20, .... are S1, S2, S3, S4, ...
PP is the main Pivot point and "d" suffix is for daily.
View attachment 13166
I am attaching a screen shot of pivot points for September 11
R05, R10, R15, R20, .... are R1, R2, R3, R4, ...
similarly S05, S10, S15, S20, .... are S1, S2, S3, S4, ...
PP is the main Pivot point and "d" suffix is for daily.
View attachment 13166
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