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Direct MessagesDate/Time: Fri, 19 Apr 2024 13:14:27 +0000
Pivot Points - Formula 5
View Count: 1473
| [2019-02-11 11:42:09] |
| sync - Posts: 9 |
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Hi, Firstly, I want to thank Sierra Chart for the great implementation of Formula 5 pivots (Camarilla). As well as the R5 and S5 levels defined in this study, I wanted to mention that some people use an intermediate/first target before these levels, and I set these out below - I've tried to write the formula in the same way as Sierra Chart documentation. I have defined them as R4.5 and S4.5 R4.5 = ((Range * 1.1) * (3/4)) + Yesterday's Close S4.5 = Yesterday's Close - ((Range * 1.1) * (3/4)) Would SC consider implementing these R4.5 ad S4.5 pivots? There is currently a large gap between R4 and the target R5, and similarly with S4 and target S5. I believe that the above additions would make solid intermediate/first targets, based on my previous experience in using these pivots. Thanks in advance for your consideration. Date Time Of Last Edit: 2019-02-11 13:55:15
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| [2019-02-12 03:08:44] |
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Yes we will look into adding these.
Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2019-02-12 22:33:15] |
| John - SC Support - Posts: 30953 |
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We have added in the option for R4.5 and S4.5 to the Pivot Points studies for the Camarilla pivots (calculation #5). Look for this in the next Pre-Release (v1875). When available, you can update using the following instructions: Software Download: Fast Update Note that in order to continue the standard progression of the Camarilla Pivots, we used the following calculations: R4.5 = Yesterday's Close + Range * 1.1 / 1.5 S4.5 = Yesterday's Close - Range * 1.1 / 1.5 For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2019-02-15 10:08:46] |
| sync - Posts: 9 |
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Hi, I've tested the new R4.5 and S4.5 levels in the new release and they do not match up with the formulas I suggested in my first post - they are almost 3 points off in the ES futures contract. If I match my formulas to the nomenclature for Sierra Charts, the formulas should be divided by 1.33, not divided by 1.5 as stated in your post. So the correct formula is: R4.5 = Yesterday's Close + Range * 1.1 / 1.33 S4.5 = Yesterday's Close - Range * 1.1 / 1.33 I do hope you will change the R4.5 and S4.5 to reflect this as I have seen these levels being useful pivots for many years of using Camarilla - it is not about having equidistant spacing or progression between each level, in my humble opinion. Thanks in advance. |
| [2019-02-15 14:46:00] |
| John - SC Support - Posts: 30953 |
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We have changed the calculation to divide by 1.33 rather than 1.5. This will be in the next pre-release v1876.
For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2019-02-15 14:59:15] |
| sync - Posts: 9 |
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Great! Thanks for your help and for implementing this so quickly.
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