☕Pivot Point

#pivot #pivotpoint

This Pivot indicator only calculate the last Pivot based on the prior trading day high, low, close.

tradingview chart: https://www.tradingview.com/script/y5Amaszl-Pivot-Point-tradingalert-net/

• Formula: pHigh(previous day high), pLow(previous day low), pClose(previous day close) PP = (pHigh+pLow+pClose) / 3 R1 = PP+(PP-pLow) S1 = PP-(pHigh - PP) R2 = PP + (pHigh - pLow) S2 = PP - (pHigh - pLow) R3 = pHigh + 2 * (PP - pLow) S3 = pLow - 2 * (pHigh - PP)