PIVOT, SUPPORT AND RESISTANCES
The next picture shows the S&P Mini 1 minute/10 minutes/Daily
chart, we are in there using the indicator Pivot/Sup/Res for the highest
period in this case the daily data. The horizontal lines are the daily
pivot, support and resistance, note they are plotted for the complete
day. These are the traditional pivot, support and resistance
calculations ( red, cyan and green lines) plus other 2 (magenta and blue
The next chart shows the same S&P Mini, now with a 81 minutes/Daily/Weekly chart. The supports are now calculated to the next time frame of the chart (the daily), but the value for the lines are the same.
The calculation of these lines are
Pivot = (H + L + C)/3, not we have an option to change the pivot to use (O + H + L) where O is the open of the current period.
Support 1 = Pivot * 2 - High
Support 2 = Pivot - Resistance 1 + Support 1
Support 3 = Pivot - Resistance 2 + Support 1
Support 4 = Pivot - Resistance 2 + Support 2
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