To change any of the Delphic Pivot Points indicator settings, simply right click anywhere on the indicator after adding it to your chart, then select the ‘Format Delphic Pivots’ option from the menu. The colours of the pivot levels can be adjusted, and each pivot is clearly labelled to the left of the chart, making the Delphic Pivot Points visually clearly and easy to work with.Īdjusting the Indicator’s Inputs in TradeStation Switch on the indicator’s audio alerts, and you’ll be alerted every time price approaches a pivot level, so you can focus your analysis elsewhere in the meantime. Enter ‘1’ under ‘IntradayTrend_On’ on the indicator’s Inputs’ tab to activate. Far less choppy than other trend indicators, this can be a useful filter for intraday trading strategies. This is considered to be up (green) if the highest intraday high is further from the daily pivot than the lowest intraday low is below it (and visa-versa for down trends). This second paint bar study colours bars according to the intraday trend. This function can be switched on by entering ‘1’ under ‘DailyTrend_On’ in the indicator’s ‘Inputs’ tab. This is like using a very fast moving average on a daily chart to gain an intraday bias, but rather than using the closing price alone, this average combines the high, low, and close. One of two ‘trend’ functions, this study paints bars green when the day’s pivot is higher that that of the preceding day. When these are discovered – both the daily pivot and a 200-period moving average in close proximity, say – then a broader grey zone will be plotted around the pivot. The Delphic Pivots can be directed to search for confluences with other price chart indicators. With the Delphic Tradestation Pivot Points you can switch this option on, and you can specify how many points apart the standard pivots must be before a mid level will plot. Here are some of the features of this indicator:įollowing large range days that produce highly spaced pivots, it is common practice to plot the ‘mid’ level between each two standard pivots. So what’s so special about the Delphic TradeStation Pivot Points indicator? In terms of their calculation, the pivots are pretty much standard, but they’ve been designed to be convenient to set up, visually customisable and easy to interpret and, most importantly they come with a user manual packed full of smart strategies to enable you to take full advantage of the daily opportunities that these levels present. Pivot Levels are now very widely used by off-floor traders. Decades before computers and algorithmic trading dominated the financial markets to the extent that they do today, floor-traders would to take nothing more than a pencil and paper into the pits of the Chicago exchanges with them, and they would calculate a simple series of price levels before the opening bell.

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