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HLCC/4


daytrader - on your pivot point calc using hlcc/4 , what is the second 'c'? im sure its a close but is it calc the close of the previous day twice?

thx

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that reminds me, why R1(cyan) of calamari pivot is LOWER than PP(yellow) is this normal?
gio: Yes, the second C is close again. This is how some people calculate the pivot point. What they are saying is that the closing price is more important than the High or Low so we're going to weight it by including it in the calculation twice. This will skew the pivot point more towards the closing price but still take the high and low into account.

nkhoi: Yes, this is possible and correct and you can see why this happens when you look at the formula for the Camarilla Pivots. Here is the calculation for R1 and PP:
R1 = C + RANGE * 1.1/12
PP = (HIGH + LOW + CLOSE) / 3

Let's say that the high, low and close were 300, 100, and 110 respectfully. That makes the RANGE 200, the PP 170, and R1 128.33

One could argue for a Camarilla pivot point as the average of R1 and S1 but that would just be the closing price...