Trend and moving averages
Pivot Points
Pivot points are support and resistance levels for today, calculated from yesterday's high, low and close: P = (H + L + C) ÷ 3, with R1-R3 above and S1-S3 below.
How to read it
- Price above P = bullish bias for the day; below P = bearish bias.
- R1 / S1 are the first levels where the price often reacts.
- Mostly used on intraday charts.
Settings
Classic formula from the previous session.
Example rule to test
Intraday idea: watch how the price behaves near R1 and S1 in the first hour.
Common mistake
Expecting exact reversals at every level; use them as zones.
Try it free on iTradeChart
For learning only. Backtests use past data and do not guarantee future results. Not investment advice.