Simple and useful indicator. Pivot Points are used to project potential support and resistance levels. The main time periods used are daily, weekly, and monthly pivots. The formula for the daily pivot point is shown below:

Pivot Point

• P=(LastClose+LastHigh+LastLow)/3;

Support Levels

• S1=2*P-LastHigh;
• S2=P-(LastHigh-LastLow);
• S3=(2*P)-((2*LastHigh)-LastLow);

Resistance Levels

• R1=2*P-LastLow;
• R2=P+(LastHigh-LastLow);
• R3=(2*P)+(LastHigh-(2*LastLow));