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Date/Time: Fri, 29 Mar 2024 10:02:12 +0000



Support and Resistance

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[2020-02-07 02:37:01]
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
[2020-02-07 18:31:38]
Sierra_Chart Engineering - Posts: 13625
Take a look through the various formulas that are available with the Pivot Points study to see if one of them matches what you are looking for. You will find the documentation for the formulas here:
Pivot Points: Formula Types
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

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