Why Important Pivot Calculator

[dekac]

Hi

Pivot calculator is important for forex trading because of trends in currency pricing, like all markets, are cyclical and many successful speculators rely heavily on the market’s tendency to “bounce” between calculated support and resistance points that manifest themselves on a weekly, daily and sometimes hourly basis...

[dekac]

Hi
Pivot Point, Support and Resistance Formulas

The first step in the pivot point trading process is a simple calculation of the pivot whichis an average of the previous day’s high, low, and closing prices...

Today’s Pivot Point = Previous Trading Day’s (H + L + C) / 3

In the above formula “H” represents the previous day’s high, “L” represents the previous day’s low, and “C” represents the previous day’s closing price.

[darrenwilliams]

Hi, I am new to this. Can you please tell me how does it work?

[dekac]

Hi darrenwilliams
Once the day’s pivot point has been calculated, traders turn to the calculation of the initial support (S1) and resistance (R1) levels which assumes that trading will continue pretty much in the same range as the previous trading day. The formulas for those are as follows: Support Level 1 = (2 * PP) – H
Resistance Level 1 = (2 * PP) - L

To learn all about Pivot Poin calculator go to Live Call Trading/Training Room and subscribe , this information you can find in forex resource (http://forex.delijaworld.com)

[Xaron]

Or you just go to BabyPips which is a great resource to learn about the forex market:

http://www.babypips.com/school/pivot_points.html

BTW: You don't have to "subscribe" there...

Regards - Xaron

[piplady]

You don't have to perform those calculations i think.. The charting software will automatically do it and plot it on the chart. Well at least we are aware on how it worked..

[grayghost]

Google AutoPivotIndicator. Written for MT4, it will draw daily, weekly, and monthly pivot levels automatically.

[daily20pip]

Bellow is my version of Advanced Pivot Calculator.


http://daily20pip.com/blog/wp-content/uploads/2008/06/17-jun-08.gif (http://daily20pip.com/signal)