A quick and scientific tool to determine a pivot point

Tools and widgets relating to the forex market are easy to get familiar with. They function on the basis of calculation and are powered by

fool-proof and extremely smart and modern technology. These tools are of great benefit for any trader who is serious about trading and

wants to master the concept of forex market.

So here comes the concept of pivot point calculator which an essential element to be aware of if you are trading. Pivot point calculator is supposed to aid traders work out the pivot points relating to the

existing or imminent session of trading.

Pivot point calculator is a priceless tool, and it is extremely effortless to comprehend and utilize.

So what are pivot points? Pivot points were initially formulated by floor traders belonging to the realm of stocks and entity of

commodity exchanges. These are computed depending on the high and low as well as the closing prices of earlier sessions of

trading.

Traders utilize these points to envisage and forecast the resistance and support levels in the ongoing or the sessions of

future.

• A pivot point calculator has typically, fields for high, low, close and open and a calculate button.

• Pivot point for any current session is worked out by adding previous high, previous low and previous closing price and the sum is divided by three.

• Then the pivot point calculator enables the user to utilize the computed pivot point and estimate the corresponding resistance and support levels ranging from 1-4.

The provision of generation of pivot points in four different systems are incorporated in the pivot point calculator.

These are listed in four different columns of pivot point calculator. These are namely, • Classic • Woodie's • Camarilla• DeMark's

• In the pivot point calculator, the classic is the basic one.

• The pivot point is associated with the point of origin of main trend.

• Woodie's pivot points are akin to classic pivot points, but assign higher importance to the closing price of the earlier session. • Camarilla pivot points are quite complex in nature and aid in estimating the precise stop-loss and profit taking basis.

• Whereas, calculation by DeMark's involves the expected highs plus lows of the session.

Calculation of pivot points by any of the techniques are quite simple and uncomplicated, if followed by the right formula or the procedure. Using the

calculator can accomplish the results in seconds.

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