Using Weekly Pivots To Trigger Trades

[Jim-Boulder]

I want to build an intraday strategy that get's its entry signals based on weekly pivots. Let's assume I want to enter a long when the last traded price (on a 15 minute chart) first hits or exceeds the weekly pivot R1 value (the pivot being calculated on the prior weeks prices). In other words, starting Monday at 12:01 AM--whenever the last traded price hits or exceeds weekly pivot R1-I want to go long.)

Is this the proper syntax for this?:

if (Close[0] >= Pivots(PivotRange.Weekly, HLCCalculationMode.DailyBars, 20).R1[0])

Do I need to add the following (prior to it)

if(CurrentBar<XXXX)return;

if so, what is XXXX?

Do I need a weeks worth of 15-min bars so that the weekly pivots calculate correctly? is a week = 7x24 hours or 5 if I have weekend turned off?

[NinjaTrader_Josh]

Hi Jim-Boulder,

The code you have will work. You do not need a CurrentBar check, but you will need to ensure you have enough data. Since you are using a CalculationMode of Daily Bars I think you need 7 days of daily bars for the week calcs to kick in. (Don't quote me on that I haven't checked completely.) Generally if there is not enough data your Pivots will throw off values of 0 and you will know this is wrong immediately. You could just throw in an extra condition of Pivots > 0 then you won't have to worry about bogus values messing up your strategy. If the value isn't 0 you know it is a good value.