Support Board

Date/Time: Mon, 29 Apr 2024 08:25:54 +0000

Post From: Support and Resistance

[2020-02-07 02:37:01] Link To Thread - Link To Post [Go To First Post]
User630140 - Posts: 5
did you have this ? The calculation for the new day are calculated from the High (H), low (L) and close (C) of the previous day. Our recommended software calculates all of this automatically, however we use a trick to get a 24 hour Pivot and Support and Resistance Lines. Here is the formula used by floor traders. Pivot point = P = (H + L + C)/3 First area of resistance = R1 = 2P – L First area of support = S1 = 2P – H Second area of resistance = R2 = (P -S1) + R1 Second area of support = S2 = P – (R2 – S1) and so forth