Registered User Joined: 4/29/2012 Posts: 21
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The following formulas (left side) are what Worden is using to calculate the pivot points:
The correct formula for R3 and S3 are shown on the right side. (floor trader pivots)
R3 = High + 2 * (Pivot - Low) R3 = PP + 2* (High - Low)
R2 = Pivot + (High - Low) Ok
R1= (2 * Pivot) - Low Ok
Pivot = (High + Low + Close) /3 Ok
S1 = (2 * Pivot) - High Ok
S2 = Pivot - (High - Low) Ok
S3 = Low - 2 * (High - Pivot) S3 = PP - 2 * (High - Low)
I confirmed it with MyPivots.com and tradestation
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Registered User Joined: 4/29/2012 Posts: 21
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Just to csarify my prior post, PP should read "Pivot"
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Administration
Joined: 9/30/2004 Posts: 9,187
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I find numerous sources that support our version of the R3 and S3 calculations. Found a few that support your version as well.
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Platinum Customer
Joined: 9/23/2011 Posts: 11
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Why not offer both so we can plot both and see differences
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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While the built in Pivot Points indicator doesn't plot R4 and S4, your R3 is just our R4 and your S3 is just our S4. Every other line in pivot points are usually (H - L) away from each other. Your version has no pivots that are (H - L) away from R1 and S1.
It is possible to calculate R4 and S4 for each day on a Daily Chart.
Pivot Point R4 and S4
-Bruce Personal Criteria Formulas TC2000 Support Articles
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