there are various different formula for calculating pivot point & next days predicted high low :-
TIM DeMark formula ( which takes bearish & bullish movement also in account )
last day HLC formula
last day HLC & present day OPEN formula .
which is most accurate & which one is currently used by zerodha to show Pivot points on PI ?
I believe there is no one thing such as holy grail which works all the times and can be called as most accurate in markets.You can try any of the above and fix to one which suits your trading style.
Pi uses standard formula with the below expression.
R3 = H + 2( Pivot - L
R2 = Pivot + ( H - L )
R1 = ( 2 x Pivot ) - L
Pivot = ( H + L + C ) / 3
S1 = ( 2 x Pivot ) - H
S2 = Pivot - ( H - L )
S3 = L - 2( H - Pivot )
Does kite run on a different formula?? I tried calculating the Nifty futures on 22nd Dec and the result I got was different from the one shown on kite…
can you give a short summary on how to trade using pivot points alone ?
Shiva, there is 5 different kind of pivot points. The classic pivot, the camarilla pivot, the woodie pivot, the fibonacci pivot and the de mark pivot. 4 out of 5 of them are covered in this pivot point calculator. The full trading strategies are also provided. Can have a look.
Hi, I am getting different result when calculating PIVOT myself. For example, Nifty data for 17 Jun 20 as per NSE is
and calculated Pivot as per your post is 9906.18 for 18 Jun 20. However, on Kite chart it placed as 9904.72. @siva-reddy Pls clarify.