Calculate daily pivot points and support/resistance levels using multiple proven methods
| Level | Price | Distance from PP |
|---|
Pivot points are technical indicators calculated using the previous period's high, low, and close prices. They help traders identify potential support and resistance levels where price may reverse or consolidate.
The most common method. PP = (H + L + C) / 3. Simple average of high, low, close.
Uses Fibonacci ratios (38.2%, 61.8%, 100%) to calculate support and resistance from the pivot.
Created by Nick Scott. Uses closer levels ideal for intraday range trading and breakouts.
Weights the close price more heavily. PP = (H + L + 2×C) / 4. Good for trend traders.
Uses the relationship between open and close to calculate levels. Created by Tom DeMark.
PP = (High + Low + Close) / 3
R1 = (2 × PP) - Low
R2 = PP + (High - Low)
R3 = High + 2 × (PP - Low)
S1 = (2 × PP) - High
S2 = PP - (High - Low)
S3 = Low - 2 × (High - PP)
Bounce Strategy: Enter long at support levels (S1, S2, S3) with stop below. Enter short at resistance levels (R1, R2, R3) with stop above.
Breakout Strategy: If price breaks above R1, target R2. If price breaks below S1, target S2. Use PP as a bias indicator - above PP is bullish, below is bearish.
Range Trading: Trade between S1 and R1 when price consolidates around the pivot point.
Log trades at key pivot levels and analyze which setups perform best for your strategy
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