Synchronicity of daily bars within intraday charts

[Harry]

If you use the NT pivots indicator, it automatically switches to CalcFromIntradayData without giving you notice, if there is no daily data. If you use this on range charts - after you selected the correct session under chart properties - the indicator will collect the high, low of the session and the close of the last range bar that closes within the session. High and low will be usually correct, but the close can be one range off. For the main pivot you get

Maximum error 33% of the range (in rare cases this can be more)
Expected average error 16.5% of the range.

If your range is 6 ticks, your expected error is one tick. If you have a 20 range chart expected error is 3 ticks, maximum error 6 ticks.

Originally Posted by kumar

Hello again Harry,
Today I tried 'user defined values' with yesterday's HLC values and was pleasently surprised to find that these match the Pivots provided by NT using 'dailybars' - a difference of 1 tick on a 3 min chart for ES_F (this can result from slight differences in measurements), so all in all the Pivot indicator provided by NT works - not worth the trouble of using userdefind values - IMHO.

Thanks for all your insight,
Kumar