Registered User
Joined: 12/26/2011
Posts: 4
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Hi I am new to TC2000 and I've noticed that the pivot point calculations are a bit off.
Maybe I am adding the indicator incorrectly? I'm not sure. As an example, I would bring up a 15min chart of NFLX. Then go to the left hand column where it says "Indicators" then select pivot points. When I did it today, it is showing the pivot point for NFLX = 69.587.
But, using the standard formula to calculate Pivot Point = (High + Low + Close) / 3
NFLX pivot point today = ( 69.09 + 67.61 + 69.20 ) / 3 = 68.63
Hence, I'm a bit confused why on TC2000 it is showing 69.587 vs 68.63. Any help to explain this would be greatly appreciated. Also please keep in mind that I am writing this message at 11:51 am EST. (because the high and low of the day might change from now until market close which would change the numbers above)
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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The standard formula for Pivot Points uses the High, Low and Close of the previous day, not the current day.
-Bruce
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