TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... Message Board

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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less.....

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To: NW_Trader who wrote (9211)	6/3/1999 9:22:00 PM
From: TATRADER	Read Replies (3) of 59879

Patrick, can you put together an indicator for us on WOW that makes use of Pivot points... Here is the basic formula from Collin.. To calculate the pivot point, support and resistance levels for the next trading day you need today's high, low and close. The pivot point is simply the average of the high plus low plus close, or (H + L + C)/3. Support level 1 is calculated by multiplying the Pivot by 2 and then subtracting the day's high. Resistance level 1 is calculated by multiplying the Pivot by 2 and then subtracting the day's low. Finally, the secondary support (S2) and resistance (R2) levels are calculated by using the numbers (P, S1 and R1) created in step one. These are the calculations: Pivot (P) = (H + L + C)/3 Resistance level 1 (R1) = (2P) - L Support level 1 (S1) = (2P) - H Resistance level 2 (R2) = (P - S1) + R1 Support level 2 (S2) = P - (R1 - S1) As always, your help is appreciated....Mark

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