Hi team, please help me to calculate pivot points for 15mins and 1 hour time frame, which is vary from day’s chart.
Hi team, please help me to calculate pivot points for 15mins and 1 hour time frame, which is vary from day's chart
You don’t have to manually calculate Pivot Point levels, On ChartIQ and Trading View charts there is Pivot Points indicator which will automatically count levels and show them on charts.
yah i know that. i want learn how it is calculated for 15mins, Hourly, daily and weekly time frames.
There are different types of Pivot Points and calculation method varies for each of them.
If you Google Search you will get detailed information on calculation.
i searched many sites, then i came here.
If you find any link please share. thanks in advance.
The pivot point and associated support and resistance levels are calculated by using the last trading session’s open, high, low, and close.
The calculation for a pivot point is shown below:
Pivot point (PP) = (High + Low + Close) / 3
Support and resistance levels are then calculated off the pivot point like so:
First level support and resistance:
First resistance (R1) = (2 x PP) – Low First support (S1) = (2 x PP) – High
Second level of support and resistance:
Second resistance (R2) = PP + (High – Low) Second support (S2) = PP – (High – Low)
Third level of support and resistance:
Third resistance (R3) = High + 2(PP – Low) Third support (S3) = Low – 2(High – PP)
Hope it helps:grinning: