Pivot Points in IB?

[granny ring 10]

Do IB charts allow for pivot points? I haven't found that study. I was planning on using IB for charts (data) and execution, but I am wondering if I should be looking at a second source such as Tradestation or Ninja trader for charts and IB for execution...I plan on day trading ETFs and eminis...

Thanks!

[stanlyd 10]

i strongly suggest looking at another vendor for your charting. Ib's charts are pretty bad. If you want to try a nice free solutions for stocks check out http://www.quotetracker.com/

[granny ring 10]

Thanks! It looks like it will connect to my data feed at IB! It seems too good to be true...

[OAC 10]

Ninjatrader is the best for this purpose. You can specify exactly when each trading day begins and ends.

[diablo272 10]

Ninjatrader is the best for this purpose. You can specify exactly when each trading day begins and ends.

 

That's true, and it's a good feature of NT if you set the beginning and end of each day as the same time (ie 4:15 PM is the open and close, or 12 AM is the open and close, etc). One thing I don't like about this feature though, is that if you set the open and close to different times, like 9:30-4:15, and you look at a chart with those times set as the open and close, the chart will ONLY show data from 9:30-4:15, and it will not show data from after hours or premarket.

[86834 10]

IB is a very bad source of data. All depends on what ou want out of your charting and budget etc. I suggest pro realtime - it's cheap and a very good source of data.

 

http://www.prorealtime.com

[granny ring 10]

I was planning on running Ninja Trader with the feed from IB. Why is this "a bad source of data" Should I be looking for a paid data feed, like esignal or tradestation?

[OAC 10]

I was planning on running Ninja Trader with the feed from IB. Why is this "a bad source of data"

 

You must did something wrong. You need to run TWS concurrently with NinjaTrader. Also you must configure TWS's API setting correctly.

[OAC 10]

I was planning on running Ninja Trader with the feed from IB. Why is this "a bad source of data"

 

Sorry I misread your post, you put in quotes and I thought that was the error message you got while running Ninjatrader. Most of the complaint about IB is their tick data, they have a thing called aggregated tick which decrease bandwidth and increase speed during peak trading session. since this thread is about Pivots in IB, It is kind of irrelevent.

[diablo272 10]

I was planning on running Ninja Trader with the feed from IB. Why is this "a bad source of data" Should I be looking for a paid data feed, like esignal or tradestation?

 

My understanding of IB data (I've never used it) is that it's a "snapshot" of data rather than real tick data. So the data you're getting isn't tick by tick, but something like millisecond by millisecond, so each update to a 1 tick chart may be several ticks rather than one single tick. It may not actually be milliseconds, but it's a very short amount of time instead of tick by tick. In a fast market, this could make a difference in how you view price action. With Ninja, I use Zenfire, and I'm happy with it. I've heard good things about Esignal, and not so good things about Tradestation, though I think it depends on your style.