This tool is designed for traders looking to calculate pivot points and enhance their trading strategies. By providing the high, low, and close values of a stock, traders can determine potential support and resistance levels.
All calculations are based on the standard pivot point formula used in financial trading. For further information, please refer to authoritative financial textbooks and resources.
Pivot Point: \( \frac{\text{High} + \text{Low} + \text{Close}}{3} \)
Resistance 1: \( (2 \times \text{Pivot}) - \text{Low} \)
Support 1: \( (2 \times \text{Pivot}) - \text{High} \)
Resistance 2: \( \text{Pivot} + (\text{High} - \text{Low}) \)
Support 2: \( \text{Pivot} - (\text{High} - \text{Low}) \)
Pivot points are technical analysis indicators used to determine the overall trend of the market over different time frames.
Traders use pivot points to identify potential support and resistance levels in the market.
While pivot points are a useful tool, they should be used in conjunction with other indicators for better accuracy.
Yes, pivot points can be applied to any financial market, including stocks, forex, and commodities.
Pivot points are typically calculated using daily data, but they can be adapted for intraday trading.
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