# Pivot Point fibonacci formula

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