Fibonacci Pivot Points start the same as Standard Pivot Points. From the central Pivot Point, Fibonacci multiples of the high-low differential are added to form resistance levels and subtracted to form support levels.
Pivot Points were originally used by floor traders to set key levels. Like modern-era day traders, floor traders dealt in a very fast moving environment with a short-term focus. At the beginning of the trading day, floor traders would look at the previous day's high, low and close to calculate a Pivot Point for the current trading day. With this Pivot Point as the base, further calculations were used to set supports, and resistance. These levels would then be used to assist their trading throughout the day.
- Add to any chart or time frame
- Prints on daily, weekly, or monthly close in real time
- Sound Alerts at any FIB cross, or individual and pivot crosses
- Daily, monthly, and weekly pivots
- Multiple Fibonacci support and resistance levels