Pivot Point Calculator Help
This is the help page for the
The pivot points calculated by this calculator are often also referred to as Floor Pivots because they are used by Floor Traders.
Because there are so many different formulae used in calculating the Pivot
Point and the Support and Resistance levels we've decided to give you the
choice. Click on the drop down box and select the formula that you want to use.
The default selections are the most popular formula used for these calculations
and the same formula that are used on the
Remember that in the formulae that you see above that the RANGE is High - Low. You may think that you use a different formula for your pivot but consider the following:
The classic/default formulae in the calculator are:
PP = (H + L + C) / 3
R1 = 2 * PP - L
S1 = 2 * PP - H
R2 = PP + RANGE
S2 = PP - RANGE
R3 = PP + RANGE * 2
S3 = PP - RANGE * 2
R4 = PP + RANGE * 3
S4 = PP - RANGE * 3
If your formula for R2 is (PP - S1) + R1 then substitute into this formula S1 and R1 from above and you get:
R2 = PP -(2PP - H) + (2PP - L)
which gives us:
R2 = PP - 2PP + H + 2PP - L
R2 = PP + H - L
and since we know that RANGE = H - L
you will now see that your R2 formula is exactly the same as the one that we use here. It is just expressed in a different way.
In order to quickly get the Woodie Pivots do the following:
Under the Quick Set Formula Set label select Woodie from the drop down box and then click the Change button. (If you have numbers entered then hitting the Change button will also recalculate for you.)
If you want to change to the formulae used in the Woodie pivots and want to do it manually then follow these steps:
- Start off with the classic settings.
- Enter the Open (today's), High (yesterday's), Low (yesterday's) prices in the labeled boxes.
- (Optionally change the Input Format if the numbers you've entered are in 32nds or 64ths.)
- In the Pivot Point (PP) drop down formula select (H+L+O+O)/4
- In the R3 drop down formula select H + 2 * (PP - L)
- In the S3 drop down formula select L - 2 * (H - PP)
- Hit the calculate button.
Just select Camarilla from the drop down and hit the Change button to quickly switch (and recalculate if you have numbers entered) all the formulae to the Camarilla Equation.
Do you have another (different) formula that you use for the Pivot Point or
one of the support/resistance areas?