PivotPoint

Well known technique used by floor traders to calculate intraday support and resistance levels.

Calculation:

Pivot Point = (H + L + C)/3
First Support Line (PivotPointS1) = (2 * Pivot Point) - H
First Resistance Line (PivotPointR1) = (2 * Pivot Point) - L
Second Support Line (PivotPointS2) = Pivot Point - (PivotPointR1 -PivotPointS1)
Second Resistance Line (PivotPointR2 )= Pivot Point + (PivotPointR1 -PivotPointS1)

Returns the PivotPoint column.

Related functions:

ATR , ADX , BB , CCI , MFI , OBV , RSI , SS , ROC , RS , Range , Envelope , DEMA , MACD , TypicalPrice , MedianPrice , WeightedClose , Momentum , WilliamsR , Performance , Percent , TrueRange , Volatility , MoneyFlow , StaDev , AveDev , Variance , Skewness , Kurtosis , LongWhite , LongBlack , PiercingLine , BullishEngulfing , BearishEngulfing , HammerHanging , ThreeWhiteSoldiers , ThreeBlackCrows , DarkCloudCover , Doji , LinearReg , LinearRegAngle , LinearRegIntercept , LinearRegSlope , TSF , Correl