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I use the cash session, but I've very often seen the globex 24h pivots held as well. I don't think there is anything magical about pivots, it's just that enough people use them they become a self-fulfilling prophecy, and that can also explain why both RTH and Globex pivots work about equally well, or equally poorly, in my experience.
I just wanted a few different opinions, to see what is used, maybe I should have tried a poll..... Below some examples, the blue lines are Globex pivots, the orange line RTH pivots, just selected some days where they fell different.
I would probably use Globex-only if I could find a way to have a RTH chart (for gap) but Globex pivots The indicator would have to be written to use data2, and data1 is your RTH chart while data2 is a 24 hour session. Hmmm.
To achieve this you would need daily data from the Globex session and set the SessionPivots indicator to DailyBars. If you do not have daily Globex data, you can create it with NT7. Set session template to Globex (US index futures ETH) in instrument settings, reload historical intraday data and export the data via Historical Data Manager, then reimport it as daily data. Afterwards reset session template in instrument or chart settings to the cash session (US index futures RTH) to display gaps.
Another solution would be to edit daily data manually each morning, and enter the OHCL from the CMEGROUP website directly. This will also allow you to get the settlement price instead of the close.
As of my experience with CL and 6E I very much like floor pivot points. Daily, weekly and mothly all are important.
OHLC have to be obtained from 18:00 to 17:15 next day.
So, for example for today, as of CL 06-10 (on NT7):
PivotsMonthlyFloor PERIOD from: 01/03/2010 0:15:00 to 31/03/2010 17:15:00 H=84,27 L=78,06 C=83,61 so PP=81,98
PivotsWeeklyFloor PERIOD from: 11/04/2010 18:05:00 to 16/04/2010 17:00:00 H=87,26 L=83,75 C=84,48 so PP=85,16
PivotsDailyFloor PERIOD from: 15/04/2010 18:01:00 to 16/04/2010 17:00:00 H=86,67 L=83,91 C=84,48 so PP=85,02
What I wonder is what this session pivots would be called? Are these the Globex session or day session?
Anyway these are the best and unique for TheNext10Ticks!
Surely not to be traded as a standalone method without more real time price auction knowledge.
Globex is the electronic trading platform of CME, so Globex pivots are ETH (electronic trading hours) pivots for futures that can be traded via CME.
Your CL pivots are NYMEX ETH pivots. Crude oil and FOREX are traded around the clock, the center of FOREX trading is London, London also has a highly liquid crude contract (Brent Crude) on its IPE exchange. So for these instruments it is obvious that you take a 24 hours session with the New York close, as New York comes last.
My question referred to US equity index futures, because many traders still prefer to ignore the night session to show the gap.
The indicator would have to be written to use data2, and data1 is your RTH chart while data2 is a 24 hour session. Hmmm.
