MV Dialy Pivot

MV Dialy Pivot

Simple and useful indicator. Turning points are used to predict the potential support and resistance levels. Main used timeframes – a daily, weekly and monthly turns. The formula of the daily pivot point is shown below:

turning 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));

MV Dialy Pivot

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