4.42 Types of Pivot Points

 
In the previous chapter we had mentioned that there is only one formula for calculating a pivot point. Well, the statement was both correct and wrong. Correct, because for the original pivot point, which is also called standard or classical pivot point, the formula is only one. However, subsequently three more kinds of pivot points were developed. And yes, these other types have their own different calculations. These types are as follows:
 

Classical or standard pivot point

 
The classical pivot point is calculated based on the day's high, low and closing price and gives equal weight to all these prices. The resistance and support levels are then calculated based on the pivot point level with reference to the high and low of the day. Please check all the calculation steps on the pivot point calculator page.
 

Camarilla Pivot point

 
In fact the way the pivot point itself is calculated is exactly same as the classical version. The difference is in the ways the subsequent resistance and support levels are calculated. Do check the steps in at Camarilla pivot point calculator page.
 

Woodie's Pivot Point

 
Woodie's pivot calculation gives more weight to the closing price of the period. And yes, the way the supports and resistances are calculated is also different. You will find all about those at Woodies pivot point calculator page.
 

Fibonacci pivot Point

 

The pivot level is calculates in the same way as we do for the classical version or for the Camarilla. However, the support and resistances are calculated using the Fibonacci retracement levels as compared to the pivot level. Please check the formula at Fibonacci pivot point calculator page. 

 

Forex Trading Alerts subscription


Name:
Email:
Confirm Email:
6+5

We will send email alerts as soon as the Forex analysis is updated.
Request you to check the Junk (spam mail) folder immediately in case Google group mail is not received in Inbox.

Enter Forexabode Blog

Enter Forex Abode Community

Forex Rates