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Pivot calculators are useful tools that traders use to help identify potential areas of support and resistance. By using pivot points, traders can better understand the overall market trend, as well as potential entry and exit points for trades. In this article, we will explore the different types of pivot calculators available, including the Standard Pivot Calculator, Fibonacci Pivot Calculator, Woodie Pivot Calculator, Camarilla Pivot Calculator, and DeMark Pivot Calculator.

Standard Pivot Calculator

The Standard Pivot Calculator is the most commonly used type of pivot calculator. It is based on the previous day's high, low, and closing prices, and uses a simple mathematical formula to calculate support and resistance levels. The formula is as follows:

Pivot Point (PP) = (High + Low + Close) / 3
Support 1 (S1) = (2 x PP) - High
Support 2 (S2) = PP - (High - Low)
Resistance 1 (R1) = (2 x PP) - Low
Resistance 2 (R2) = PP + (High - Low)

The Pivot Point represents the overall market trend, with Support and Resistance levels representing potential areas where the trend may change direction. Support 1 and Resistance 1 are considered to be the most important levels, while Support 2 and Resistance 2 are considered to be less significant.

Fibonacci Pivot Calculator

The Fibonacci Pivot Calculator is a variation of the Standard Pivot Calculator, but instead of using a simple mathematical formula, it uses the Fibonacci sequence to calculate support and resistance levels. The Fibonacci sequence is a series of numbers in which each number is the sum of the two preceding numbers. The sequence starts with 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, and so on.

To calculate Fibonacci Pivot levels, the high, low, and close prices from the previous day are used, and the Fibonacci sequence is applied to calculate potential support and resistance levels. The formula is as follows:

Pivot Point (PP) = (High + Low + Close) / 3
Support 1 (S1) = PP - 0.382 x (High - Low)
Support 2 (S2) = PP - 0.618 x (High - Low)
Resistance 1 (R1) = PP + 0.382 x (High - Low)
Resistance 2 (R2) = PP + 0.618 x (High - Low)

The Pivot Point is the same as the Standard Pivot Calculator, but the Support and Resistance levels are calculated using the Fibonacci sequence. Support 1 and Resistance 1 are calculated using 0.382, while Support 2 and Resistance 2 are calculated using 0.618.

Woodie Pivot Calculator

The Woodie Pivot Calculator is another variation of the Standard Pivot Calculator, but instead of using the previous day's high, low, and closing prices, it uses the current day's opening price along with the previous day's high, low, and closing prices. The Woodie Pivot Calculator uses a similar formula to the Standard Pivot Calculator, but with some differences. 

The Pivot Point is calculated using the previous day's high, low, and closing prices.

Common trading strategy using pivot points:
* If the price opens above the previous session's pivot point (PP), sentiment is bullish
* If the price opens below the previous session's pivot point (PP), sentiment is bearish
* On bullish sentiment, use resistance levels (R1, R2, R3) to close a long position
* On bearish sentiment, use support levels (S1, S2, S3) to cover a short position
* Use a longer pivot time frame than the time frame you are trading in (ex: use monthly or weekly pivots when trading daily charts)
* For intraday trading, use volatility indexes as additional confirmation of sentiment (^VIX, ^VXN)

CONTACT
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DISCLAIMER:
While there is no reason to believe the calculator is unreliable, no liability is accepted for any errors or inaccuracies. All calculations in this application are based on user inputs and do not reflect any guarantee of earnings, financial savings, tax advantages, or otherwise. The app is not intended to provide investments, legal, tax, or accounting advice.

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