Understanding Traditional Pivot Points (Formula Diagram)
Learning about market Pivot Points is powerful information as you can see in this 15 min Bitcoin session chart, the Pivot Points and their components (S1,R1,R2,R3, etc) are clearly respected by price action
I did a pretty extensive search for a diagram/drawing to better understand the formula for pivot points and I noticed there really are none...
This snapshot of a chart will help you to better understand how the Pivot Points are established as time goes on in the market...
In the diagram you can clearly see what a session term is, what its high/low and close are...
The formula for establishing the next session's Pivot Pivot is: high of previous session + low of previous session + close/3 = next session's Pivot Point
I will be making other diagram's of other components of a session such as the S1,S2,R1,R2,R3, etc.
If you're interested in learning more about Technical Analysis, subscribe to my youtube channel: "Kick Back Time"
The more subscribers I get there, the more I will be encouraged to produce educational videos
* You can find this indicator on Trading View by doing a search and it should come up right at the top. I like to use the standard/traditional
I did a pretty extensive search for a diagram/drawing to better understand the formula for pivot points and I noticed there really are none...
This snapshot of a chart will help you to better understand how the Pivot Points are established as time goes on in the market...
In the diagram you can clearly see what a session term is, what its high/low and close are...
The formula for establishing the next session's Pivot Pivot is: high of previous session + low of previous session + close/3 = next session's Pivot Point
I will be making other diagram's of other components of a session such as the S1,S2,R1,R2,R3, etc.
If you're interested in learning more about Technical Analysis, subscribe to my youtube channel: "Kick Back Time"
The more subscribers I get there, the more I will be encouraged to produce educational videos
* You can find this indicator on Trading View by doing a search and it should come up right at the top. I like to use the standard/traditional
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