PIVOT POINT LEVEL

Every day the market following has an open, high, low and a close for the day, markets like forex are 24 hours but generally use New York market's closing time as the open and close. This information basically contains all the data you need to use pivot points.

In order to calculate pivot level, we need 3 prices which are:
H = previous period’s high price
L = previous period’s low price
C = previous period’s closing price

Then calculate pivot level using this equation:
Pivot Point (PP) = (High + Low + Close) / 3

Support and resistance levels are then calculated off of this pivot point using the following formulas:

Resistance:
R1 = Resistance Level 1 = (2*PP)-L
R2 = Resistance Level 2 = (PP-S1) + R1
R3 = Resistance Level 3 = (PP-S2)+R2

Support:
S1 = Support Level 1 = (2*PP)-H
S2 = Support Level 2 = PP - (R1 - S1)
S3 = Support Level 3 = PP - (R2-S2)

*Select currency and pivot level generate automatic



*Input data