Pivot Points
Also referred to as "floor trader pivots", support (S1, S2, S3) and resistance (R1, R2, R3) lines are calculated using the high, low and closing values of the stock. The lines remain static throughout the trading day no matter what time frame you're looking at (daily, hourly, etc.)
The following formulas are used to calculate the pivot points:
R3 = High + 2 * (Pivot - Low)
R2 = Pivot + (High - Low)
R1= (2 * Pivot) - Low
Pivot = (High + Low + Close) /3
S1 = (2 * Pivot) - High
S2 = Pivot - (High - Low)
S3 = Low - 2 * (High - Pivot)
The pivot lines are calculated using the high, low and close for daily and lower time frames (1-minute, hourly, etc.)
| R4 |
(7 * H1 - 5 * L1 + C1) / 3 |
| R3 |
(5 * H1 - 4 * L1 + 2 * C1) / 3 |
| R2 |
(4 * H1 - 2 * L1 + C1) / 3 |
| R1 |
(2 * H1 - L1 + 2 * C1) / 3 |
| PP |
(H1 + L1 + C1) / 3 |
| S1 |
(2 * L1 - H1 + 2 * C1) / 3 |
| S2 |
(4 * L1 - 2 * H1 + C1) / 3 |
| S3 |
(5 * L1 - 4 * H1 + 2 * C1) / 3 |
| S4 |
(7 * L1 - 5 * H1 + C1) / 3 |
The formulas are for a daily time frame. There is not an automated way to calculate the daily values in an intraday time frame using a Personal Criteria Formula.
Read more about Pivot Points at Investopedia