How to calculate pivot point in zerodha kite? What is the difference between Fibonacci and Standard pivot points? What are the formula for calculating supports and ressitances ?
You can go to studies and search pivot points on kite.
Fibonacci Pivot Point
R3 = PP + ((High – Low) x 1.000)
R2 = PP + ((High – Low) x .618)
R1 = PP + ((High – Low) x .382)
PP = (H + L + C) / 3
S1 = PP – ((High – Low) x .382)
S2 = PP – ((High – Low) x .618)
S3 = PP – ((High – Low) x 1.000)
C – Closing Price, H – High, L – Low
Standard Pivot Points
Pivot Point § = (High + Low + Close)/3
Support 1 (S1) = (P x 2) - High
Support 2 (S2) = P - (High - Low)
Resistance 1 (R1) = (P x 2) - Low
Resistance 2 (R2) = P + (High - Low)
The difference lies in their calculation. You should use the one that works best for you. These points act as support and resistance.
There is no general formula for calculating support and resistance. There are various things that can be used as support and resistance like SMA, EMA, Fibonacci retracements and extensions, trendlines, channels etc. All these act as support and resistance. To know anything specific, please ask