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<DIV><FONT color=#000000>Here is a pivot point calculation and I was wondering
if anyone is using pivot points and what has there usefulness been?</FONT></DIV>
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<P>The pivot point and its support and resistance pairs are defined as
follows:<B><PRE> Pivot point (P) = (H + L + C) / 3
First resistance level (R1) = (2 * P) - L
First support level (S1) = (2 * P) - H
Second resistance level (R2) = P + (R1 - S1)
Second support level (S2) = P - (R1 - S1) <BR></B></PRE>where <B>H, L, C</B>
are the previous day's high, low and close, respectively.</FONT></DIV>
<DIV><FONT color=#000000></FONT> </DIV>
<DIV><FONT color=#000000>PJF</FONT></DIV></BODY></HTML>
</x-html>From ???@??? Sat May 01 10:06:16 1999
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Date: Sat, 01 May 1999 09:36:33 -0500
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From: Bob Hunt <RHunt.066@xxxxxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Re: pivot points
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> patrick fernicola wrote:
>
> Here is a pivot point calculation and I was wondering if anyone is
> using pivot points and what has there usefulness been?
----------------------------------------------------------------
Patrick,
I use them extensively in my own work for trading the bond market, as
do many floor traders.
They are a great aid in determining potential support and resistance
levels throughout the day. They're best used in combination with
specific price behavior patterns which indicate high potential for a
short term turn in direction.
If you'd like an Omega Research ELA for plotting them, just let me
know. The ELA also plots a third level of S&R, which most pivot system
discussions neglect to mention.
Bob Hunt
E-Mail: RHunt.066@xxxxxxxxxxxxxxxx
Web Site: http://home.att.net/~rhunt.066
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