Now this is one of the examples at where it misleads the whole calculation on daily pivot levels.
Prev Day OHLC wrong value levels for next session.
If you place pick top/bottom wick of daily/4h candle it’s easy to spot the next session Prev Day OHLC values levels plotted at wrong spot. And when i am checking with their support team this is what their cute response.
“Daily OHLC includes pre and post market session. So if Low or high is made during that time, They will be considered as day’s high low while intra day OHLC is only about market session. Close of daily candle is also post market close and not LTP of 3:30PM.”
@JayK Kindly check the whole post I believe I mention everything which I had shared with your team from last 1 week on daily/frequent basis. And please put two charts on monthly timeframe. One at Dhan and one at TV. You will get the idea.
Pivot levels not available for Options but CPR+Pivot is available for option. Kind of “half-baked” stuff.
Now what is the issue here: -
a) Pivot you can set the type/timeframe and eliminate history.
b) In CPR it’s non-modification indicator [IMO it’s an outdated version; with lot of limitations]
So if someone prefer Pivot - Camarilla type, with custom time frame and without history then you can’t. You have to stick with outdated version of Daily/Weekly CPR Floor type Pivot Indicator which has no way to eliminate history levels, no way to change timeframe, no way to change/switch pivot type.
You can verify data for Continuous contract directly from the MCX site. For example, for the current near month expiry contract, let’s say for Lead Jan Future contract, the previous month candle data can be cross-verified with December data on MCX.
Thanks for sharing this; but I am still wondering is there way to eliminate this “Continuous” or someway to switch “Contract” base Pivot monthly candle calculation?
The reason the pivot monthly level base calculation depends on Previous Month contract OHLC, but here as Dhan pulling same Jan contract OHLC value from 01 Dec- 31 Dec, instead of Dec Contract OHLC for pivot monthly calculation, so IMO its plotting a wrong levels/value on chart as compared with any other chart pivot monthly levels. [Tradingview]
We chose the Continuous contract method, because it gives a much longer time-frame, which helps in various types of analysis. But I understand each trader is different. Noting your feedback for future evaluation.
@JayK Did you get a chance to catch this one? Previous OHLC value [Prev Day OHLC Indicator or CPR Indicator Prev OHLC plot levels; both have same issue] not plotted in past at correct levels. [I had reported this in live market when I spotted this issue].
CPR/OHLC levels shape shifting from Static to Dynamic.
On random basis Daily CPR/Weekly CPR/Prev_Day_OHLC shape shifting from Static current levels to dynamic levels in mid of live session. This is today live Weekly CPR shape shifting from Static to Dynamic.
The answer I have is the same shared by our team earlier - “Daily OHLC includes pre and post market session. So if Low or high is made during that time, They will be considered as day’s high low while intra day OHLC is only about market session. Close of daily candle is also post market close and not LTP of 3:30PM.”
I am specifically mentioning only Zinc Jan contract here right now.
So, base of that, can you please confirm following thing: -
a) According to you/Dhan/MCX what is the OHLC value for Jan Zinc Contract on 28th Dec?
b) According to you/Dhan what was the Prev Day OHCL Indicator plotted value for Jan Zinc Contract on 29th Dec? Please just mention the OHCL value of Prev Day OHCL Indicator
c) According to you/Dhan what was the Day CPR Indicator plotted value for Jan Zinc Contract on 29th Dec?
d) How difficult / discomfort for Dhan; if I request to share the source code of Pivot, Day CPR, Weekly CPR and Prev Day OHLC indicator? (Issue no 1, 2, 3, 4 and 6 related to code I believe. Something is missing there hence it is plotting a wrong value).
P.S. : Tagging Naman as well here as I believe he is the same guy on google meet discussion at where I explain most of this issue. [In case you are not the same guy, you can please ignore the tag.]
I have shared details for Zinc contract specifically.
As mentioned earlier, we have continuous contract chart. Currently, the next expiry contract is Feb Future.
Jan Future chart data when you were seeing in December was the next expiry contract. So this historical data can now be seen in Feb Future in the current month. OHLC and Pivot will be calculated accordingly. Have shared the screenshots of actual values already in the above post.
Happy to have our team connect again on a video meet to go through this, to avoid multiple back and forth.