NFP High/Low Levels PlusNFP High/Low Levels Plus
Description:
This indicator stores the 12 most recent NFP (Non-Farm-Payroll) days and their values.
Values are captured from 0830 (NFP Release) until close of market
The High and Low values for each NFP month are drawn on the chart with horizontal lines.
- Labels indicating the month's high or low line are placed after the line
- Optionally the high/low price can be displayed additionally
Support and Resistance boxes can be drawn at the closest NFP level above and below the
current price.
- Boxes will automatically update as prices cross the NFP value
Macro Indicator
- This option displays a small table in the top right corner that says "Up" or " Down"
- The Macro Indicator can be used to judge the potential direction for the current month
- Macro direction is calculated by the following:
- UP: If two consecutive days both open and close above the most recent NFP High level
- DOWN: If two consecutive days both open and close below the most recent NFP Low level
Micro Indicator
- This option displays a small table in the top right corner that says "Up" or " Down"
- The Micro Indicator can be used to judge the potential direction for low timeframes 1H or
lower
- Micro direction is calculated by the following:
- UP: If two consecutive 10m candles close above the 20EMA
- DOWN: If two consecutive 10m candles close below the 20EMA
NFP Session Bars
- This feature draws an arrow at the bottom of the chart for each candle that falls within the
NFP session day
- This is useful for identifying NFP Days
Support / Resistance Table
- This displays a table bottom center showing the nearest high and low NFP line level
What is an NFP Day and why is it useful to add to my chart?
- NFP Days are one of the most important data releases monthly
- NFP (Non-Farm-Payroll) is the official release of 80% of the US workforce employed in
manufacturing, construction, and goods
- It does not include those who work on farms, private households, non-profit and
government workers
- Historically these high/low levels for the day create strong support and resistance levels
- Having them displayed on the chart can help identify potential strong levels and pivot points
Full Indicator with all options enabled and identified
Easily update NFP Release Days in the indicator settings
Modify various options: Show/Hide lines, labels, directional indicator tables, values tables
Adjust line width, offsets, colors, font sizes, box widths
Enable individual Directional Indicators and modify colors
Example of full indicator enabled
You can find a list of the NFP Release Schedule on the official US Bureau of Labor Statistics website. This is useful for updating the indicator settings with the correct dates
Nfp
Odd_mod Econ CalendarA modification of Economic Calendar Events: FOMC, CPI, and more written by jdehorty . Please send all tips his way as he is maintaining the underlying data for the Calendar and the original concept.
List of changes:
Optimized code, will only run once on initialization now(No random line in middle of screen on bar change)
Legend - Added short names
Legend - Removed header
Legend - Made repositionable with selectable top margins
Legend - Removed data name from legend when it is disabled
Legend - Removed border
Original Description by jdehorty :
This script plots major events from the Economic Calendar that often correspond to major pivot points in various markets. It also includes built-in logic to retroactively adjust larger time intervals (i.e. greater than 1 hour) to be correctly aligned with the interval during which the event occurred.
Events are taken from the Economic Calendar and will be updated periodically at the following library:
EconomicCalendar
The above library can be used to conveniently access date-related data for major Meetings, Releases, and Announcements as integer arrays, which can be used in other indicators. Currently, it has support for the following events:
FOMC Meetings
The FOMC meets eight times a year to determine the course of monetary policy . The FOMC's decisions are based on a review of economic and financial developments and its assessment of the likely effects of these developments on the economic outlook.
FOMC Minutes
The FOMC minutes are released three weeks after each FOMC meeting. The minutes provide a detailed account of the FOMC's discussion of economic and financial developments and its assessment of the likely effects of these developments on the economic outlook.
Producer Price Index (PPI) Releases
The Producer Price Index (PPI) measures changes in the price level of goods and services sold by domestic producers. The PPI is a weighted average of prices of a basket of goods and services, such as transportation, food, and medical care. PPI is a leading indicator of CPI .
Consumer Price Index ( CPI ) Releases
The Consumer Price Index ( CPI ) measures changes in the price level of goods and services purchased by households. The CPI is a weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care. CPI is one of the most widely used measures of inflation .
Consumer Sentiment Index ( CSI ) Releases
The University of Michigan's Consumer Sentiment Index ( CSI ) is a measure of consumer attitudes about the economy. The CSI is based on a monthly survey of U.S. households and reflects the consumers' assessment of present and future economic conditions. The CSI is a leading indicator of consumer spending, which accounts for about two-thirds of U.S. economic activity.
Consumer Confidence Index ( CCI ) Releases
The Consumer Confidence Index is a survey that measures how optimistic or pessimistic consumers are regarding their expected financial situation.
Non-Farm Payroll (NFP) Releases
The Non-Farm Payroll (NFP) is a measure of the change in the number of employed persons, excluding farm workers and government employees. The NFP is a leading indicator of consumer spending, which accounts for about two-thirds of U.S. economic activity.
Swing Stock designed for Monthly/Yearly Trading This is a strategy tester designed around the most important data from FRED - Federal Reserve Economic Data
As input data, we have:
// Personal Consumption Expenditures
// Real Retail and Food Services Sales
// Leading Index for the United States
// All Employees: Total Nonfarm Payrolls
// Real Gross Domestic Product
// Gross Domestic Product
I adapted the long and short entry based on the GDP data, since they are most accurate in prediction compared to the rest.
However, feel free to test with other as well if you want.
For this test I compared previous GDP values, if they were higher than previous that represent a long signals, if they were smaller that represents a reversal=short signal.
From the tests performed we can see that GDP is highly accurate and overall as long as there is patience, profits are going to be make, sometimes even beat the index itself.
If you have any questions, let me know !
