Forex Pivot Points

Forex pivot point is a level in which the sentiment of traders and investors changes from bull to bear or vice versa. They work simply because many individual forex traders and investors use and trust them, as well as bank and institutional traders. It is known to every trader that the pivot point is an important measure of strength and weakness of any market. Floor traders love pivot points. They act as magnet for price movements If you observe how price move during any trading session, you'll notice that price often stalls or stops at pivot points before resuming its movement. To calculate daily forex pivot points you need High, Low, and Close Price of the previous day. Simply set these three prices in the Forex Pivot Point Calculator and it will give the values. Here are the used formulas for calculating daily pivot points: P = (High + Low + Close) / 3; R1 = 2 * P – Low; R2 = P + (R1 - S1); R3 = High + 2 * (P - Low); S1 = 2 * P - High; S2 = P - (R1 - S1); S3 = Low – 2 * (High - P) As you can see from the above formula, just by having the previous day's high, low and close you eventually finish up with 7 points, 3 resistance levels, 3 support levels and the actual pivot point. If the market opens above the pivot point then the bias for the day is long trades. If the market opens below the pivot point then the bias for the day is for short trades. The three most important pivot points are R1, S1 and the actual pivot point. The general idea behind trading pivot points is to look for a reversal or break of R1 or S1. By the time the market reaches R2, R3 or S2, S3 the market will already be overbought or oversold and these levels should be used for exits rather than entries. Forex Pivot Points calculator is compatible with Microsoft Windows 98/Me/2000/XP/Vista. Net Framework v2 is required to run the program. Free to download, use and distribute - no registration is needed.

Minimum requirements: Microsoft .NET Framework v2.0 or newer

Operating system: Win98,WinME,WinNT 4.x,Windows2000,WinXP,Windows2003,Windows Vista Starter,Windows Vista Home Basic,Windows Vista Home Premium,Windows Vista Business,Windows Vista Enterprise,Windows Vista Ultimate,Windows Vista Home Basic x64,Windows Vista Home Premium x64,Windows Vista Business x64,Windows Vista Enterprise x64,Windows Vista Ultimate x64

Program URL: http://freeware.forexsb.com/forex_pivot_points.html

Forex Pivot Points is freeware software and it may be freely distributed, provided that; (1) Such distribution includes only the original archive. You may not alter, delete or add any files in the distribution archive. (2) The distribution does not include a registration key. (3) No money is charged to the person receiving the software, beyond reasonable cost of packaging and other overhead.

Software License Agreement Forex Pivot Points Carefully read this license agreement before using the product. Using the product indicates that you have read this license agreement and agree to its terms. By using the product you accept the following License Agreement. If you do not agree to the conditions of this license, delete the product from your system.

Read more