Pivot point levels

[Mythago50]

Hi Guys

can anyone tell me what formulas IG are using to calculate their R3 and S3 pivot levels. as the calculations for R2, R1, PP,S1,S2, are all standard formulas.

Cheers Roger

[MongiIG]

19 hours ago, Mythago50 said:

Hi Guys

can anyone tell me what formulas IG are using to calculate their R3 and S3 pivot levels. as the calculations for R2, R1, PP,S1,S2, are all standard formulas.

Cheers Roger

Hi @Mythago50

Thanks for reaching out.

HOW TO CALCULATE PIVOT POINTS

The calculation for the most basic flavor of pivot points, known as ‘floor-trader pivots,’ along with their support and resistance levels:

Pivot point formula

Pivot point (PP) = (High + Low + Close) / 3

First resistance (R1) = (2 x PP) – Low

First support (S1) = (2 x PP) – High

Second resistance (R2) = PP + (High – Low)

Second support (S2) = PP – (High – Low)

Third resistance (R3) = High + 2 (PP – Low)

Third support (S3) = Low – 2 (High – PP)

There are other ways to calculate the pivot point, which is available on most trading platforms and can be extended through different time frames. The support and resistance levels will be calculated as above. Below is an example of what is offered on the IG trading platform for daily pivots. The same calculation can be made for weekly or monthly pivots too:

Full article: Pivot Points

Hope this helps.

 

All the best - MongiIG

[Mythago50]

HI There

really appreciate the help could not find formulas for R3 and S3 but have now solved the problem

cheers