Pivot points

Choose a formula family

The traditional version uses P = (H + L + C)/3, R1 = 2P − L and S1 = 2P − H. Fibonacci, Woodie, Camarilla and other methods have different rules and may also use an opening price. Check actual platform formulas rather than compare levels using the generic pivot name alone.

Period and source

A daily pivot uses a specified previous day; a weekly pivot uses another window. Session boundary, timezone, quote type and separate intraday/daily feeds can change the result. Treating complete H/L/C from an unfinished day as known that morning introduces a timing error in testing. Record the relevant data boundary explicitly.

Using calculated levels

A pivot can provide context, candidate support or a rule threshold. It is not observed order inventory or an obligatory reversal point. Price crossing R1 may continue or return. Evaluation needs a precise signal, execution and costs, rather than simply counting touches of a line or assuming a level works because others observe it.

Source of the definition

TradingView: pivot formulas. Documentation of the construction or concept is not a guarantee of strategy results.