Looking for a powerful yet simple way to identify key support and resistance levels in your trading? The Pivot Point Calculator is an invaluable tool for traders.
This calculator helps you determine pivot points and price levels based on the previous trading day’s high, low, and close. These levels can give insights into potential market reversals or continuations. It supports four different calculation methods, allowing traders to customize based on their strategies.
Watch the video below and discover how to easily use the Pivot Point for XAUUSD trading, for example. It's not just for Gold—you can calculate pip values for over 145,000 instruments, including cryptos and indices!
Step-by-Step Guide to Using the Pivot Point Calculator:
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Select Calculation Method: Choose from Standard, Woodie, Camarilla, or DeMark methods depending on your trading strategy.
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Enter Data: Input the high, low, and close prices from the previous trading session into the provided fields.
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Open Price (DeMark only): If using the DeMark method, include the asset's opening price.
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Calculate: Click the "Calculate" button to view the pivot point and the corresponding support and resistance levels.
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Interpret Results: Use the output to guide your next trading session, focusing on the calculated pivot and levels for potential buy or sell opportunities.
Ready to learn more about trading? Check out our Beginner's Guide to Forex Trading and start your journey to becoming a successful trader!