What is Pivot Point Calculator
Pivot Point is a numerical mean of the previous trading day’s high, low, and closing price of a specific asset. Traders identify future price movements and base their trading plan partly on these pivot points. Pivot points trading is done by most intraday pivot traders.
If an asset trades above the pivot point on the next day, it signals a bullish trend. Conversely, it indicates a bearish trend if the asset is trading below the pivot point. This helps traders determine stop-loss points and profit-making points on the chart.
Types of Pivot Point
There are 5 types of Pivot Points, namely
- Standard Pivot Points
- Woodie’s Pivot Points
- Advanced Camarilla Pivot Points
- Fibonacci Pivot Points
- Demark Pivot Points
How to use Pivot Point Calculator
Pivot point calculation can be done using the formula below
P = (H + L + C) / 3, where p is Pivot Point, H is High, L is Low and C is Closing prices of the market in the prior trading period.
A Pivot Calculator is very simple to use. It usually has two inputs. They are:
- Stock Name
By Using the Pivot points calculator, you can easily get the values of Resistance 3, Resistance 2, Resistance 1, Pivot Point, Support 1, Support 2, Support 3 of different pivot points.