Calculate daily pivot points and support/resistance levels for any trading instrument.
Pivot points are technical indicators used to determine potential support and resistance levels. Originally developed by floor traders, they help identify key price levels where the market sentiment might change from bullish to bearish or vice versa.
Most widely used method. Pivot = (H + L + C) / 3
Best for: Day trading, general market analysis
Uses Fibonacci ratios (38.2%, 61.8%, 100%) for support/resistance
Best for: Trending markets, swing trading
Provides 8 levels, tighter ranges for intraday trading
Best for: Scalping, range-bound markets
Gives more weight to closing price
Best for: Trending markets
Uses relationship between open and close for different scenarios
Best for: Gap analysis, opening range breakouts