How to use pivot points in zerodha kite?
And there different types of pivot points in zerodha pi like basic pivot point, camarilla pivot point woodies pivot point, fibo pivot point ? Which type of pivot point is it in zerodha kite ?
What are all these pivot points ? How should I use them?
I am having quite difficult time in drawing support and resistance levels which I read from zerodha varsity.
Thought of using pivot points as substitute for support and resistance? Is it wise idea?
Thanks for reading
it’s standard pivot point that we use in zerodha Kite. regarding the different types as camarilla, woodies,fibo pivot , there is enough info on internet. Fibonacci pivot point results are not as good as standard pivot points in backtesting.
For drawing support and resistance,Use 15 min chart if you are trading on 3 min chart or use 1Hr chart if you are trading on 15 min chart. i.e use 4-6 times larger time frame for drawing S/R.
Pivot points are calculated using formulae like HLC/3. so it is different from drawing S/R manually.
Both are good.
can you how zerodha calculates povit points? Its different from others? I tried H+L+C/3 , O+H+L+C/4, and some more different methods but it never matches zerodha s povit points…
kindly reply me if you know