iCharts Discussions

[viraj5]

Hello Friends !

Please tell me how to calculate monthly pivot points for Nifty and other stocks ???

Best Regards

Viraj

[casper]

hi viraj

if u want it to be automatic then hit the "piv pts button" in any form of jchart, plz see the attached picture to find out whr it is

u can compute daily/weekly/monthly pivs from here

other wise, for manual calculation, use the following formula

*PP = (H + L + C) / 3

* R1 = (2*PP) - L

* R2 = PP + (H - L)

* R3 = H + 2*(PP-L)

* S1 = (2*PP) - H

* S2 = PP - (H - L)

* S3 = L - 2*(H - PP)

[viraj5]

Dear Friend,

Thank you for your prompt reply,

But for monthly pivot I have to consider

Monthly PIVOT = [avg monthly (H) + avg monthly (L) + avg monthly (C) ]/ 3 ????

Regards

Viraj

[casper]

if u wish to calculate manually any way, just switch ur tfs to "monthly" , in jchart it is possible to see chart from 30second to 1month tf,

now switch to monthly and u will get a candle per month, note down the latest candles high , low , close and apply the formula, so no averaging is needed, just consider the latest candle in monthly tf and as the month will be in progress, so it will create new monthly high/low/close(provisional close i mean) u will have to update your pivots accordingly too

but personally i use the automatic s/w generated monthly /weekly pivots which are generated by clicking "piv pts " button on jchart, they work really good

[viraj5]

Thank you Friend ! I got it.

Best Regards

Viraj