The calculation of Woodie's pivot points is different than the standard pivot points. Please note that the closing price of the previous period is multiplied by 2 in the to calculate Woodie's pivot point. This ensures that the closing price has more importance or weight in determining the pivot. The formula for Woodie's pivot and its associated resistance and support levels are as follows:
Pivot = ( H + L + 2 x C ) / 4
- S1 = ( 2 x Pivot ) - H
- S2 = Pivot - ( H - L )
- S3 = L - 2 * (H - Pivot)
- R1 = ( 2 x Pivot ) - L
- R2 = Pivot + ( H - L )
- R3 = H + 2 * (Pivot - 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.
Woodie's Pivot Point Calculator
Simply input the vales of the high, low and closing price of the previous period to calculate the Woodie pivot point and the associated resistance and support levels for the present period in the following calculator. Please note that to calculate the daily woodie's pivot points the "Period" = Day.
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