I was following this thread

and had few questions.

what is the formula for pivot point fibonacci used in KITE charts. ?

I was following this thread

and had few questions.

what is the formula for pivot point fibonacci used in KITE charts. ?

- PP = (HIGHprev + LOWprev + CLOSEprev) / 3
- R1 =PP + 0.382 * (HIGHprev - LOWprev)
- S1 = PP - 0.382 * (HIGHprev - LOWprev)
- R2 = PP + 0.618 * (HIGHprev - LOWprev)
- S2 = PP - 0.618 * (HIGHprev - LOWprev)
- R3 = PP + (HIGHprev - LOWprev)
- S3 = PP - (HIGHprev - LOWprev)

Awesome!! Thanks!!!

Hi,

Quick question.

Here is today’s BankNifty chart @ 9.29am.

the pivots (are fibonacci) and shown in chart as,

resistance1: 21675

resistance2: 21893

resistance3: 22027

PrevDay

High: 21962

Low: 21393

Close: 21667

if i use above formula and calculate resistance1, it would be.

- PP = (21962+ 21393 + 21667) / 3 = 21674
- R1 = 21674 + (0.382 * (21962 - 21393) => 21891

**So, R1 should be 21891, but 21675 is plotted on Kite chart.**

why this difference ?

Take previous days Intraday High Low Close values for calculation.

Hi @ShubhS9

Yes, the H,L,C values i used are Aug-6th values.

but still the pivots are off.

what am i missing ?

I take you are using 15 minutes timeframe, High in this timeframe was 21963.05, Low: 21392.75 and Close: 21670.

So:

PP = (21963.05 + 21392.75 + 21670) / 3 = 21675.27

R1 = 21675.27 + 0.382 * (21963.05 - 21392.75) = 21893.12.

Hope this helps.

Yes, this is my calculation too.

then why is R1 on kite chart is 21675 instead of 21893.12 ?

nevermind. found the issue.

i mistook pivot as r1