Fibonacci Pivot Points
Fibonacci calculator calculates the pivot points according to Fibonacci extensions as retracement levels.
Fibonacci retracements are the support levels opposite to the direction of price action or the trend. On the other hand Fibonacci extension levels are calculated as the profit targets of the resistances along the direction of the price action or trend.
Fibonacci Formula and Calculation
The calculation of Fibonacci pivot points is different than the standard pivot points. The formula for Fibonacci pivot and its associated resistance and support levels takes into account the ratios from the Fibonacci sequence of numbers. The formulas are as follows:
Fibonacci Pivot = ( H + L + C ) / 3
- S1 = Pivot - 0.382 * (H - L)
- S2 = Pivot - 0.618 * (H - L)
- S3 = Pivot - 1.000 * (H - L)
- R1 = Pivot + 0.382 * (H - L)
- R2 = Pivot + 0.618 * (H - L)
- R3 = Pivot + 1.000 * (H - L)
Meanings of abbreviations in the above formulas are as follows:
- H = Previous day's high.
- L = Previous day's low.
- C = Previous day's closing price.
- S1 = First level of support.
- S2 = Second level of support.
- S3 = Third level of support.
- R1 = First level of resistance.
- R2 = Second level of resistance.
- R3 = Third level of resistance.
Fibonacci Pivot Calculator
Simply input the vales of the high, low and closing price of the previous day to calculate the Fibonacci pivot point and the associated resistance and support levels for the present day in the following calculator.
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