Central Pivot Labels reversed and calculation problem

[jfritchey]

The labels TC and BC seem to be reversed on the chart. I think the TC should be on the top and BC on the bottom.   I calculated the BC, P and TC using The H, L and C below

CHTR 1/7/20 values

High  498.15

Low 490.93

Close 497.45

Calculated BC  494.54

                        P 495.51

                        TC 496.48

The Indicator displayed on chart

BC 496.3933  Versus calculated 497.48

TC 494.54     Correct

P 495.4667.   Versus calculate  495.51

My calculations used 2 decimal point values from Historical chart. The Pivot (P) I calculated looks to be the problem.

What am I doing wrong?

Pivot point post.txt

[Mike Medved]

I have TC = (Prev High + Prev Low)/2

and BC = 2*Pivot - (Prev High + Prev Low)/2

Is that reversed?

[jfritchey]

Yes it is reversed according to the article formulas below.  I am a little concerned that no one noticed this before because TC means top and BC means bottom. I guess they ignored the labels.

TC = (Pivot – BC) + Pivot

Pivot = (High + Low + Close)/3

BC = (High + Low)/2

Did you find anything on the P calculation?  That was more important than the labels.

[Mike Medved]

Pivot is calculated as (prev day high + prev day low + prev day close) / 3

The difference could be the close of the day. MT takes it from the data, so if you have extended day it will take it from that. Compare your HLC values to MT's.

[jfritchey]

1/8 close Chtr MT Historical Chart Values  

High    509.99

Low     498.55

Close   500.70

 1/8  Stock chart values

High    509.99

Low     498.55

Close   500.70

My calculated values

Chtr 1/9 Intraday chart

Pivot 503.17

I understand the label difference now.

My Pivot calculation still differs from yours.  I checked yesterday’s values and compared them to Stock charts which were the same for a couple of symbols.  I still cannot figure how you get the result you display on the chart. Some MT symbol chart pivot values are correct but others differ from my spread sheet calculated values.  Since the TC calculation uses Pivot it can differ also. What values did you use for CHTR from 1/8 close?

 

[Mike Medved]

I am not sure whether you're using the historical chart candle values to calculate intraday pivot points? If so, that is not what MT uses. MT uses intraday data to calculate intraday pivot points. So look at intraday high low close - on the intraday chart candles - for the day.

 

Oh and yes TC and BC were reversed. I changed that in code.

[jfritchey]

That does answer the question.  I have been using the Historical chart data.

Thanks