Pivot Points


Pivot Points - Daily

This study draws the Pivot Point and the Support and Resistance lines on an Intraday chart. It supports numerous Pivot Point formulas. This study should be applied to an Intraday chart. By default, the study uses the Intraday chart data to compute the lines from.

Alternatively, you can use a Daily chart to calculate the Pivot Point levels from by setting the Reference Daily Chart For Data Input to Yes. The Daily Chart Number Input described below explains how to reference a Daily chart for this and other purposes.

You can choose what lines you want to be visible on the chart by going to the Study Settings window for the study. Select the Subgraphs tab. Change the Draw Style to something other than Do Not Draw/Hidden for the lines you want to be displayed.

For help with Pivot Point Lines not being accurate or different compared to other instances of the study, other users or sources, refer to the Pivot Points are Not Accurate or are Different help topic.

Basing Pivots on 24 Hour Data

If you need to have the Pivot Point lines based on the full 24 hour prior trading session, where this includes the prior evening session and prior day session, rather than a 24 hour session based on the time range from 00:00 to 23:59, then it is necessary to set the Start Time and End Time Session Times controls in Chart >> Chart Settings to cover the full 24 hours and set the Start Time to the beginning of the evening session which is usually considered the start of the next day's session. Example: If the time zone setting in Sierra Chart is New York, then for the ES futures you would want to set the Start Time to 16:15:00 and the End Time to 16:14:59. For more information about setting the Session Times for an Intraday chart, refer to Session Times on the Chart Settings page.

It is also possible, for accuracy, to reference a Historical Daily bar chart where the bars contain the full 24 hour session. For more information, refer to the Daily Chart Number Input setting below.

If you have your chart configured to see the day session only and need your pivot lines based on the full 24-hour data, then you will need to set up a separate Daily bar chart in the same chartbook, that includes bars that cover the full 24 hours of trading, that this study will refer to. Refer to the Daily Chart Number Input setting below for instructions.

Basing Pivots on the Day Session

If you want your pivot lines based on Day session data only, then in Chart >> Chart Settings set the Intraday Start Time and End Time to show only the day session. For more information about setting the session times for an Intraday chart see Session Times.

If you also need to see the Evening Session in your Intraday chart, then you will need to set up a separate Daily chart in the same chartbook, that includes bars that cover the day session only, that this study will refer to. See the Daily Chart Number Input below for instructions.

Notes

Pivot point lines are never based on weekend data (Saturday and Sunday). This data is ignored. For example, on Monday which also includes a Sunday evening session, the Pivot Point lines will be based on the Friday session. The weekend data is ignored. However, Pivot Point lines will appear on weekend days. Although, they will be based on the prior non-weekend data.

Pivot Points - Daily Inputs

Formula Type

This Input sets the Formula Types to use. The default is 0. Formula type 0 is the most common formula type.

If you require a Pivot Point lines formula that is not listed here, then contact Sierra Chart support. They are easy for us to add.

Number Days To Calculate

This Input controls the number of days you need to have the study calculated across. If you only want to see the Pivot Points for 1 day, then set this Input to 1.

Round to Tick Size

When this Input is set to Yes, the pivot point values are rounded off to the nearest tick. For this to work correctly, the Tick Size needs to be set correctly under Chart >> Chart Settings.

Use Saturday Data

When this Input is set to Yes, then Saturday trading data will be referenced on the following Sunday or Monday. Otherwise, Saturday data is ignored.

Daily Chart Number

This Input only applies if Reference Daily Chart For Data is set to Yes. This Input needs to be set to the Historical Daily chart, in the same Chartbook, for the same symbol.

If you apply the Pivot Points study to an Intraday chart, then you will need to open a Historical Daily for the same symbol in the same Chartbook using File >> Find Symbol, and set the Daily Chart Number Input with the Pivot Points study to the Historical Daily Chart which has been opened.

A Daily chart is a chart where each bar covers one day. This bar could include just the day session data or both the day and evening sessions.

You would want to use a separate Historical Daily chart if you want to base the Pivot Point lines on session times that are different from what you are loading into the Intraday chart. For example, if you need to have the Pivot Point lines calculated from Day Session data only and the Intraday chart contains evening session data as well, then using a separate Historical Daily chart that includes only the Day Session is necessary. The Daily chart can be constructed from Daily data or Intraday data. Historical Daily data may or may not contain evening session data. This depends upon the symbol and the Data/Trade Service you are using

If you want to construct a Historical Daily chart from Intraday data, then follow the Creating Daily Bars with Custom Session Times instructions. After this, then reference this Intraday chart with the Daily Chart Number Input to calculate the Pivot Point Lines from.

Using Chart Linking to Maintain the Same Symbol Between the Pivot Points Chart and the Daily Chart Being Referenced: If the Pivot Points study is referencing a Historical Daily chart for accurate Pivot Points, and you change the symbol of the chart containing the Pivot Points study, then you also will want the Daily chart to have its symbol changed to match. This can be automatically done using the Chart Linking feature. You will need to setup the Chart Linking number and enable the Link Symbol option.

Reference Daily Chart For Data

This Input specifies whether or not the study will use a Daily Chart to calculate Pivot Point lines from. If this is set to No, the study will simply calculate the Pivot Point lines using the Intraday chart data.

If it is set to Yes, then the Pivot Point lines are based on a separate Historical Daily chart. Refer to the Daily Chart Number Input for instructions.

Forward Project Pivot Point Lines

When this Input is set to Yes, then the Pivot Point lines extend forward beyond the last bar in the chart for the number of bars specified with the Number of Forward Project Bars Input. To scroll past the last bar in the chart, refer to Right Side Fill Space.

Use User Entered OHLC Values

When this Input is set to Yes, then the Open, High, Low and Close values used to calculate the Pivot Points lines for the latest trading day are manually entered through the User Entered Open/High/Low/Close Value Inputs.

User Entered Open Value

This input is only used when Use User Entered OHLC Values is set to Yes. In this case enter the open value for the prior trading day which will be used for the latest trading day Pivot Point lines calculations.

User Entered High Value

This input is only used when Use User Entered OHLC Values is set to Yes. In this case enter the high value for the prior trading day which will be used for the latest trading day Pivot Point lines calculations.

User Entered Low Value

This input is only used when Use User Entered OHLC Values is set to Yes. In this case enter the low value for the prior trading day which will be used for the latest trading day Pivot Point lines calculations.

User Entered Close Value

This input is only used when Use User Entered OHLC Values is set to Yes. In this case enter the close value for the prior trading day which will be used for the latest trading day Pivot Point lines calculations.

Use Day Session Only

When this Input is set to Yes, and you have defined and enabled 2 separate Session Times in Chart >> Chart Settings >> Session Times, then the Pivot Point lines will be based upon the Day session only as specified by the Start Time and the End Time in Chart Settings.

Refer to Session Times for more information about setting the Session Times. When you have set this Input to Yes, it is not necessary to use a separate Historical Daily chart to draw Pivot Point lines on a 24-hour chart, but base them on the day session data only in the chart.

Pivot Points - Variable Period

The Pivot Points - Variable Period study calculates and displays the Pivot Point and the support and resistance lines on a chart for a variable period of time. It supports several Pivot Point formulas.

This Pivot Points study can be used to draw Pivot Point lines covering a time period anywhere from 1 minute to 1 year. It can be used both on Intraday and Historical charts. The calculations are derived from the data in the chart itself.

To do Weekly pivots, set the Time Period Type to Weeks and set the Time Period Length to 1.

When the time period for the Pivot Lines is set to Minutes or Days, the time periods are always aligned to the Start Time set in Chart >> Chart Settings >> Session Times.

When back-referencing data for the Pivot Points, this study is able to skip periods of time where there is insufficient data to calculate Pivot Point lines from (like Saturdays, partial trading days and holidays in the case of a 1-Day period). This is a very useful feature. To use this feature, you need to set the Auto Skip Period of No Trading study Input to Yes.

For more information about automatically skipping periods, refer to the study Input Minimum Required Time Period as % below. If the Minimum Required Time Period as % is set too high it is possible that the Pivot Point lines will not appear or another effect is that the Pivot Point lines will not change from the prior period and stay the same.

You may need to reduce the Minimum Required Time Period as % study Input in the case of Volume, Number of Trades, Range, Reversal, Renko, Delta Volume, Price Changes bars since those have a variable number of bars per period. You may want to use 20% or lower to avoid skipping a period when the study is back-referencing data.

Missing Pivot Point Lines

If there are missing the Pivot Point lines for a particular period in the chart and there is no data for the period of time the Pivot Point lines are referencing which will be immediately before the time where they are missing, then the cause is simply due to the prior data not being available.

The solution to this is to set the Auto Skip Period of No Trading Input to Yes. And set Minimum Required Time Period as % Input appropriately. Usually 25. Refer to the documentation for both of these Inputs below.

Inputs

Time Period Type

Sets the type of time period for the Pivot Point lines. This Input works in conjunction with Time Period Length.

For Daily Pivot Point lines which are based upon a trading day, set this Input to Days (not minutes) and the Time Period Length Input to 1.

Time Period Length

Sets the quantity to be used with Time Period Type. For example, for 1 hour Pivot Point lines set this to 60 and Time Period Type to Minutes.

For Daily Pivot Point Lines which are based upon a trading day, set this Input to 1 and the Time Period Type Input to Days. In this case, do not use Minutes and specify the number of minutes in the trading day, this is incorrect.

Formula Type

The Formula to use for the Support, Resistance and Pivot Point lines. Refer to the Formulas Section.

Minimum Required Time Period as %

This study employs special logic when looking back at the previous period to calculate the Pivot Point lines from, to determine if there is sufficient data. If there is insufficient data, it looks back to the period before the first period it originally referenced.

This is very useful for holidays and Sunday trading. There is no longer a need to remove data from periods where there is insufficient data. You can control the functioning of this period skipping feature with this Input. For example, if you want there to be at least 50% or more of the bars needed for a period that the Pivot Point lines are calculated from, then set this Input to 50.

It is necessary to set the Auto Skip Period of No Trading study Input to Yes for Minimum Required Time Period as % to have an effect.

When this study determines the number of bars that are needed for a period, it does not consider the Session Times settings in Chart >> Chart Settings. For example, if you are just including the Day Session only in your chart, then there are going to be fewer bars available. Therefore, you need to consider this when setting this percentage. So if you have less than the full 24 hour Session of bars in the chart, then you will want to use a lower percentage to avoid skipping periods.

Round to Tick Size

Set to Yes to round off the outputted values to the symbols Tick Size, set under Chart >> Chart Settings.

Display Debugging Output (slows study calculations)

When this Input is set to Yes, detailed debugging information will be outputted to the Sierra Chart Message Log. The detailed debugging information includes the beginning and ending Date-Times of the periods in the chart being processed and the prior period being referenced in relation to those periods. This is very useful to understand how the study is actually working internally especially when you get a result that is not what you expect.

Number Of Days To Calculate

This Input specifies the number of days to calculate Pivot Point lines across in the chart. This is counting from the end of the chart.

Auto Skip Period of No Trading

Set this to Yes to automatically skip periods of insufficient data in the chart. For more information about this, refer to the Minimum Required Time Period as % Input.

Set this to No to prevent automatic skipping of periods of insufficient data. When this is set to No, then this means when referencing the prior period in the chart, the prior period will be used even if there is insufficient data. Sometimes for proper functioning of the study, this needs to be set to No.

Number of Forward Project Bars

This Input works with the Forward Project Pivot Point Lines Input and specifies how many bars/columns beyond the last bar in the chart to forward project the Pivot Points lines across.

Formula Types

Formula Type 0

  • Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Yesterday's Close) / 3
  • Resistance Level 1 (R1) = (PivotPoint * 2) - Yesterday's Low
  • Resistance Level 2 (R2) = PivotPoint + (Yesterday's High - Yesterday's Low)
  • Resistance Level 3 (R3) 3 = 2 * PivotPoint + (Yesterday's High - (2 * Yesterday's Low))
  • Resistance Level 4 (R3) 4 = 3 * PivotPoint + (Yesterday's High - (3 * Yesterday's Low))
  • Support Level 1 (S1) = (PivotPoint * 2) - Yesterday's High
  • Support Level 2 (S2) = PivotPoint - (Yesterday's High - Yesterday's Low)
  • Support Level 3 (S3) = (2 * PivotPoint) - ((2 * Yesterday's High) - Yesterday's Low)
  • Support Level 4 (S4) = (3 * PivotPoint) - ((3 * Yesterday's High) - Yesterday's Low)

Formula Type 1

  • Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Yesterday's Close) / 3
  • Resistance Level 1 (R1) = (PivotPoint * 2) - Yesterday's Low
  • Resistance Level 2 (R2) = PivotPoint + (Yesterday's High - Yesterday's Low)
  • Resistance Level 3 (R3) = Yesterday's High + (Yesterday's High - Yesterday's Low)
  • Resistance Level 4 (R4) = PivotPoint + 3 * (Yesterday's High - Yesterday's Low)
  • Support Level 1 (S1) = (PivotPoint * 2) - Yesterday's High
  • Support Level 2 (S2) = PivotPoint - (Yesterday's High - Yesterday's Low)
  • Support Level 3 (S3) = (2 * PivotPoint) - Yesterday's High - (Yesterday's High - Yesterday's Low)
  • Support Level 4 (S4) = PivotPoint - 3 * (Yesterday's High - Yesterday's Low)

Formula Type 2

  • Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Yesterday's Close + Today's Open) / 4
  • Resistance Level 1 (R1) = (PivotPoint * 2) - Yesterday's Low
  • Resistance Level 2 (R2) = PivotPoint + (Yesterday's High - Yesterday's Low)
  • Resistance Level 3 (R3) = 2 * PivotPoint + (Yesterday's High - (2 * Yesterday's Low))
  • Resistance Level 4 (R4) = 3 * PivotPoint + (Yesterday's High - (3 * Yesterday's Low))
  • Support Level 1 (S1) = (PivotPoint * 2) - Yesterday's High
  • Support Level 2 (S2) = PivotPoint - (Yesterday's High - Yesterday's Low)
  • Support Level 3 (S3) = (2 * PivotPoint) - ((2 * Yesterday's High) - Yesterday's Low)
  • Support Level 4 (S4) = (3 * PivotPoint) - ((3 * Yesterday's High) - Yesterday's Low)

Formula Type 3

  • Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Current Open + Current Open) / 4
  • Resistance Level 1 (R1) = (PivotPoint * 2) - Yesterday's Low
  • Resistance Level 2 (R2) = PivotPoint + (Yesterday's High - Yesterday's Low)
  • Resistance Level 3 (R3) = 2 *PivotPoint + (Yesterday's High - (2 * Yesterday's Low))
  • Support Level 1 (S1) = (PivotPoint * 2) - Yesterday's High
  • Support Level 2 (S2) = PivotPoint - (Yesterday's High - Yesterday's Low)
  • Support Level 3 (S3) = (2 * PivotPoint) - ((2 * Yesterday's High) - Yesterday's Low)
  • Support Level 4 (S4) = (3 * PivotPoint) - ((3 * Yesterday's High) - Yesterday's Low)

Formula Type 4

  • Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Yesterday's Close) / 3
  • Resistance Level 1 (R1) = (PivotPoint * 2) - Yesterday's Low
  • Resistance Level 2 (R2) = PivotPoint + (Yesterday's High - Yesterday's Low)
  • Resistance Level 3 (R3) = PivotPoint + 2 * (Yesterday's High - Yesterday's Low)
  • Resistance Level 4 (R4) = PivotPoint + 3 * (Yesterday's High - Yesterday's Low)
  • Support Level 1 (S1) = (PivotPoint * 2) - Yesterday's High
  • Support Level 2 (S2) = PivotPoint - (Yesterday's High - Yesterday's Low)
  • Support Level 3 (S3) = PivotPoint - 2 * (Yesterday's High - Yesterday's Low)
  • Support Level 4 (S4) = PivotPoint - 3 * (Yesterday's High - Yesterday's Low)

Formula Type 5 (Camarilla Pivot Points)

  • Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Yesterday's Close) / 3
  • Range = Yesterday's High - Yesterday's Low
  • Resistance Level 0.5 (R_5) = Yesterday's Close + Range * 1.1/18
  • Resistance Level 1 (R1) = Yesterday's Close + Range * 1.1/12
  • Resistance Level 1.5 (R1_5) = Yesterday's Close + Range * 1.1/9
  • Resistance Level 2 (R2) = Yesterday's Close + Range * 1.1/6
  • Resistance Level 2.5 (R2_5) = Yesterday's Close + Range * 1.1/5
  • Resistance Level 3 (R3) = Yesterday's Close + Range * 1.1/4
  • Resistance Level 4 (R4) = Yesterday's Close + Range * 1.1/2
  • Resistance Level 5 (R5) = (Yesterday's High - Yesterday's Low) * Yesterday's Close
  • Support Level 0.5 (S_5) = Yesterday's Close - Range * 1.1/18
  • Support Level 1 (S1) = Yesterday's Close - Range * 1.1/12
  • Support Level 1.5 (S1_5) = Yesterday's Close - Range * 1.1/9
  • Support Level 2 (S2) = Yesterday's Close - Range * 1.1/6
  • Support Level 2.5 (S2_5) = Yesterday's Close - Range * 1.1/5
  • Support Level 3 (S3) = Yesterday's Close - Range * 1.1/4
  • Support Level 4 (S4) = Yesterday's Close - Range * 1.1/2
  • Support Level 5 (S5) = Yesterday's Close - (Range - Yesterday's Close)

Formula Type 6 (Tom DeMark "Pivot Points")

  • If Yesterday's Close < Yesterdays Open: X = Yesterday's High + Yesterday's Low + Yesterday's Low + Yesterday's Close
  • If Yesterday's Close > Yesterdays Open: X = Yesterday's High + Yesterday's High + Yesterday's Low + Yesterday's Close
  • If Yesterday's Close = Yesterdays Open: X = Yesterday's High + Yesterday's Low + Yesterday's Close + Yesterday's Close
  • Pivot Point (PP) = X / 4
  • Resistance Level 1 (R1) = X / 2
  • Support Level 1 (S1) = X / 2

Formula Type 7 (Frank Dilernia Pivots)

  • Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Yesterday's Close) / 3
  • Resistance Level 1 (R1) = PivotPoint + (Yesterday's High - Yesterday's Low) / 2
  • Resistance Level 2 (R2) = PivotPoint + (Yesterday's High - Yesterday's Low) * 0.618
  • Resistance Level 3 (R3) = PivotPoint + (Yesterday's High - Yesterday's Low)
  • Support Level 1 (S1) = PivotPoint - (Yesterday's High - Yesterday's Low) / 2
  • Support Level 2 (S2) = PivotPoint - (Yesterday's High - Yesterday's Low) * 0.618
  • Support Level 3 (S3) = PivotPoint - (Yesterday's High - Yesterday's Low)

Formula Type 8 (Shadow Trader Pivots)

  • Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Yesterday's Close) / 3
  • Resistance Level 1 (R1) = 2 * PivotPoint - Yesterday's Low
  • Resistance Level 2 (R2) = PivotPoint + (R1 - S1)
  • Resistance Level 3 (R3) = Yesterday's High + 2 * (PivotPoint - Yesterday's Low)
  • Support Level 1 (S1) = 2 * PivotPoint - Yesterday's High
  • Support Level 2 (S2) = PivotPoint - (R1 - S1)
  • Support Level 3 (S3) = Yesterday's Low - 2(Yesterday's High - PivotPoint)

Formula Type 9

  • Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Yesterday's Close) / 3
  • Resistance Level 1 (R1) = PivotPoint + SQRT(SQRT(PivotPoint))
  • Resistance Level 2 (R2) = R1 + SQRT(SQRT(PivotPoint))
  • Resistance Level 3 (R3) = R2 + SQRT(SQRT(PivotPoint))
  • Support Level 1 (S1) = PivotPoint - SQRT(SQRT(PivotPoint))
  • Support Level 2 (S2) = S1 - SQRT(SQRT(PivotPoint))
  • Support Level 3 (S3) = S2 - SQRT(SQRT(PivotPoint))

Formula Type 10

  • Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Yesterday's Close) / 3
  • Resistance Level 1 (R1) = (2 * PivotPoint) - Yesterday's Low
  • Resistance Level 2 (R2) = PivotPoint + (Yesterday's High - Yesterday's Low)
  • Resistance Level 3 (R3) = R1 + (Yesterday's High - Yesterday's Low)
  • Resistance Level 4 (R4) = R3 + (R2 - R1)
  • Support Level 1 (S1) = (2 * PivotPoint) - Yesterday's High
  • Support Level 2 (S2) = PivotPoint - (Yesterday's High - Yesterday's Low)
  • Support Level 3 (S3) = S1 - (Yesterday's High - Yesterday's Low)
  • Support Level 4 (S4) = S3 - (S2 - S1)

Formula Type 11

  • Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Yesterday's Close) / 3
  • Daily Range = (Yesterday's High - Yesterday's Low)
  • Resistance Level 0.5 (R_5) = PivotPoint + 0.5*DailyRange
  • Resistance Level 1 (R1) = PivotPoint + 0.618*DailyRange
  • Resistance Level 1.5 (R1_5) = PivotPoint + 1*DailyRange
  • Resistance Level 2 (R2) = PivotPoint + 1.272*DailyRange
  • Resistance Level 2.5 (R2_5) = PivotPoint + 1.618*DailyRange
  • Resistance Level 3 (R3) = PivotPoint + 2*DailyRange
  • Resistance Level 4 (R4) = PivotPoint + 2.618*DailyRange
  • Support Level 0.5 (S_5) = PivotPoint - 0.5*DailyRange
  • Support Level 1 (S1) = PivotPoint - 0.618*DailyRange
  • Support Level 1.5 (S1_5) = PivotPoint - 1*DailyRange
  • Support Level 2 (S2) = PivotPoint - 1.272*DailyRange
  • Support Level 2.5 (S2_5) = PivotPoint - 1.618*DailyRange
  • Support Level 3 (S3) = PivotPoint - 2*DailyRange
  • Support Level 4 (S4) = PivotPoint - 2.618*DailyRange

Formula Type 12

This formula type is not for Pivot Points. Instead it draws the current days Open price as a line across the day. However, it is recommended to use the Daily OHLC study instead.

  • Pivot Point (PP) = NextOpen

Formula Type 13

  • Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Yesterday's Close) / 3
  • Daily Range = (Yesterday's High - Yesterday's Low)
  • Resistance Level 0.5 (R_5) = (R1 + PivotPoint)/2
  • Resistance Level 1 (R1) = PivotPoint + 0.382*DailyRange
  • Resistance Level 1.5 (R1_5) = (R1 + R2)/2
  • Resistance Level 2 (R2) = PivotPoint + 0.618*DailyRange
  • Resistance Level 2.5 (R2_5) = (R3 + R2)/2
  • Resistance Level 3 (R3) = PivotPoint + 1.0*DailyRange
  • Support Level 0.5 (S_5) = (S1 + PivotPoint)/2
  • Support Level 1 (S1) = PivotPoint - 0.382*DailyRange
  • Support Level 1.5 (S1_5) = (S1 + S2)/2
  • Support Level 2 (S2) = PivotPoint - 0.618*DailyRange
  • Support Level 2.5 (S2_5) = (S3 + S2)/2
  • Support Level 3 (S3) = PivotPoint - 1.0*DailyRange

Formula Type 14

  • Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Yesterday's Close) / 3
  • Resistance Level 1 (R1) = 2 * PivotPoint - Yesterday's Low
  • Resistance Level 2 (R2) = PivotPoint - S1 + R1
  • Resistance Level 3 (R3) = PivotPoint - S1 + R2
  • Support Level 1 (S1) = 2 * PivotPoint - Yesterday's High
  • Support Level 2 (S2) = PivotPoint - (R1 - S1)
  • Support Level 3 (S3) = PivotPoint - (R2 - S1)

Formula Type 15 (Fibonacci Zone Pivots)

  • Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Yesterday's Close) / 3
  • Daily Range = (Yesterday's High - Yesterday's Low)
  • Resistance Level 1 (R1) = PivotPoint + DailyRange / 2
  • Resistance Level 1.5 (R1_5) = PivotPoint + DailyRange * 0.618
  • Resistance Level 2 (R2) = PivotPoint + DailyRange
  • Resistance Level 2.5 (R2_5) = PivotPoint + DailyRange * 1.382
  • Support Level 1 (S1) = PivotPoint - DailyRange / 2
  • Support Level 1.5 (S1_5) = PivotPoint - DailyRange * 0.618
  • Support Level 2 (S2) = PivotPoint - DailyRange
  • Support Level 2.5 (S2_5) = PivotPoint - DailyRange * 1.382

Formula Type 16 (The Central Pivot Range Formula)

  • Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Yesterday's Close) / 3
  • Resistance Level 1 (R1) = (PivotPoint - S1) + PivotPoint
  • Support Level 1 (S1) = (High + Low) / 2

Formula Type 17

  • Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Yesterday's Close) / 3
  • Resistance Level 0.5 (R_5) = (PivotPoint + R2) / 2
  • Resistance Level 1 (R1) = 2 * PivotPoint - Yesterday's Low
  • Resistance Level 1.5 (R1_5) = (R_5 + R2) / 2
  • Resistance Level 2 (R2) = PivotPoint + (Yesterday's High - Yesterday's Low)
  • Resistance Level 2.5 (R2_5) = (R2 + R3) / 2
  • Resistance Level 3 (R3) = Yesterday's High + 2*(PivotPoint - Yesterday's Low)
  • Support Level 0.5 (S_5) = (PivotPoint + S2) / 2
  • Support Level 1 (S1) = 2 * PivotPoint - Yesterday's High
  • Support Level 1.5 (S1_5) = (S_5 + S2) / 2
  • Support Level 2 (S2) = PivotPoint - (Yesterday's High - Yesterday's Low)
  • Support Level 2.5 (S2_5) = (S2 + S3) / 2
  • Support Level 3 (S3) = Low - 2 * (Yesterday's High - PivotPoint)

Formula Type 18

  • Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Yesterday's Close) / 3
  • Resistance Level 1 (R1) = PivotPoint + (Yesterday's High - Yesterday's Low) * 0.75
  • Support Level 1 (S1) = PivotPoint - (Yesterday's High - Yesterday's Low) * 0.75

Formula Type 19

  • Pivot Point (PP) = (Yesterday's High + Yesterday's Low + 2 * Today's Open) / 4
  • Resistance Level 1 (R1) = PivotPoint + 2 * (Yesterday's High - Yesterday's Low)
  • Support Level 1 (S1) = PivotPoint - 2 * (Yesterday's High - Yesterday's Low)

Formula Type 20 (ACD method)

  • Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Yesterday's Close) / 3
  • Resistance Level 1 (R1) = PivotPoint + abs((Yesterday's High + Yesterday's Low)/2 - PivotPoint)
  • Support Level 1 (S1) = PivotPoint - abs((Yesterday's High + Yesterday's Low)/2 - PivotPoint)

Pivot Points Scaling

The default Scale Range Type for each of the Pivot Points studies is Same As Region. With this Scale Range Type, Pivot Point lines will only be visible and drawn if they fall within the range of the displayed prices. So if they are outside of the range of display prices, you will not see them. The reason for this is so that the Pivot Point lines will not compress the main price graph.

The Scale Range Type can be changed by pressing the Scale button in the Study Settings window for these studies.

The Scale Range Type can be set to Automatic to make visible all of the Pivot Point lines.

You are able to compress or expand the main price graph scale by using the Interactive Scale Range feature to bring the Pivot Point Lines into view if you cannot see them with the current range of prices, or out of view.

Pivot Points and Holiday Trading

During holidays, usually there is partial trading on the holiday trading day itself which may occur during the evening session which is considered part of the next trading day.

This can cause a problem with the Pivot Points studies where on the following trading day, a partial holiday trading day is being referenced. Whether or not this causes a problem depends upon the Session Times settings.

The simple solution to this is to select Chart >> Chart Settings >> Advanced Settings.

In the Dates To Exclude box, enter the date of the holiday.

For example for the 2016 Easter holiday, the Friday before there was partial trading during the evening session. To remove this from the chart enter 2016-03-25.

Another solution is to use the Pivot Points - Variable Period study and use the Auto Skip Period of No Trading and the Minimum Required Time Period As % study Inputs to skip over trading days in the chart which have an insufficient amount of trading activity.

Forward Projecting Pivot Point Lines

Pivot Point lines can be displayed for 10 bars into the future after the last bar in the chart. This allows you to forward project the lines and see what they are for the next period if you are already near the end of the current period. To do this follow these instructions:

  1. Select Analysis >> Studies the menu.
  2. Select the specific Pivot Points study you want to add forward project support for, in the Studies to Graph list.
  3. Press the Settings button.
  4. Select the Settings and Inputs tab.
  5. Set the Forward Project Pivot Point Lines Input to Yes.
  6. Press OK. Press OK.
  7. Scroll the chart to the very end.
  8. Make sure there is no checkmark by Chart >> Lock Fill Space.
  9. Click on the right arrow on the scrollbar at the bottom of the chart to scroll past the end of the chart to create space for the forward projected lines.
  10. Lock fill space by selecting Chart >> Lock Fill Space.

Pivot Points Not Visible

This section documents the reasons why you may not be able to see the Pivot Point lines.

The most common reason Pivot Point lines are not visible is because the range of prices in the main price graph in the chart do not include any of the values of the Pivot Point lines themselves. To resolve this you will need to compress to scale. Refer to Pivot Points Scaling.

The Pivot Point lines may not be visible because there is a problem with the Date-Times in the underlying data. This is an unlikely problem. The general solution to this is to go to the chart and select Edit >> Delete All Data and Download.

The Pivot Point lines may not be visible because of some problem with the current Input Settings for the Pivot Points-Daily study. Make sure Number of Days to Calculate is set to at least to 1. Reference Daily Chart for Data normally should be set to No. Use Manually Entered OHLC Values needs to be set to No unless you are manually entering the values (not recommended). Use Day Session Only normally should be set to No.

Hiding and Displaying the Pivot Point, Support and Resistance Levels

The Pivot Point, Support and Resistance lines that are drawn in the Pivot Points study can be hidden or displayed. By default, the less common levels are hidden. Follow these instructions to hide or make visible a specific level.

  1. Select Analysis >> Studies the menu.
  2. Select the specific Pivot Points study you want to modify in the Studies to Graph list.
  3. Press the Settings button.
  4. Select the Subgraphs tab.
  5. In the list of Subgraphs, select the specific Subgraph for the level that you want to hide or make visible.
  6. To make the level visible, set the Draw Style to a setting other than Do Not Draw/Hidden or Ignore.
  7. To hide the level, set the Draw Style to Ignore.
  8. Press OK to close the Study Settings window.
  9. Press OK to close the Chart Studies window.

*Last modified Wednesday, 31st August, 2016.