Scribd Logo
Upload

Welcome to Scribd!

  • 71 views

    Woodie Pivot Points Definition - MyPivots

    Uploaded by

    luca pilotti
    Woodie Pivot Points are a technical analysis indicator used to identify potential support and resistance levels. The formula calculates pivot points (PP), resistance levels 1-4 (R1-R4), and support levels 1-4 (S1-S4) based on the high, low, and open prices of previous trading periods, usually daily. A key difference from other pivot point methods is that Woodie's formula incorporates the current session's open price alongside the prior session's high and low.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Woodie Pivot Points Definition - MyPivots

    Uploaded by

    luca pilotti
    71 views1 page
    Woodie Pivot Points are a technical analysis indicator used to identify potential support and resistance levels. The formula calculates pivot points (PP), resistance levels 1-4 (R1-R4), and support levels 1-4 (S1-S4) based on the high, low, and open prices of previous trading periods, usually daily. A key difference from other pivot point methods is that Woodie's formula incorporates the current session's open price alongside the prior session's high and low.

    Original Title

    Woodie Pivot Points Definition _ MyPivots

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Woodie Pivot Points are a technical analysis indicator used to identify potential support and resistance levels. The formula calculates pivot points (PP), resistance levels 1-4 (R1-R4), and support levels 1-4 (S1-S4) based on the high, low, and open prices of previous trading periods, usually daily. A key difference from other pivot point methods is that Woodie's formula incorporates the current session's open price alongside the prior session's high and low.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    71 views1 page

    Woodie Pivot Points Definition - MyPivots

    Uploaded by

    luca pilotti
    Woodie Pivot Points are a technical analysis indicator used to identify potential support and resistance levels. The formula calculates pivot points (PP), resistance levels 1-4 (R1-R4), and support levels 1-4 (S1-S4) based on the high, low, and open prices of previous trading periods, usually daily. A key difference from other pivot point methods is that Woodie's formula incorporates the current session's open price alongside the prior session's high and low.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    Woodie Pivot Points

    Dictionary (/dictionary) / Woodie Pivot Points

    Search Dictionary

    Enter the word you want defined here

    Definition of 'Woodie Pivot Points'


    The formula used in the calculation of Woodie Pivot Points (https://www.mypivots.com/dictionary/definition/155/pivot-points) are:

    R4 = R3 + RANGE
    R3 = H + 2 * (PP (https://www.mypivots.com/dictionary/definition/159/pivot-point-pp) - L) (same as: R1 + RANGE)
    R2 = PP (https://www.mypivots.com/dictionary/definition/159/pivot-point-pp) + RANGE
    R1 = (2 * PP (https://www.mypivots.com/dictionary/definition/159/pivot-point-pp)) - LOW (https://www.mypivots.com/dailynotes/stock/low/lowes-
    companies-inc-nyse)
    PP (https://www.mypivots.com/dictionary/definition/159/pivot-point-pp) = (HIGH + LOW (https://www.mypivots.com/dailynotes/stock/low/lowes-
    companies-inc-nyse) + (TODAY'S OPEN (https://www.mypivots.com/dailynotes/stock/open/opentable-inc-nasdaq) * 2)) / 4
    S1 = (2 * PP (https://www.mypivots.com/dictionary/definition/159/pivot-point-pp)) - HIGH
    S2 = PP (https://www.mypivots.com/dictionary/definition/159/pivot-point-pp) - RANGE
    S3 = L - 2 * (H - PP (https://www.mypivots.com/dictionary/definition/159/pivot-point-pp)) (same as: S1 - RANGE)
    S4 = S3 - RANGE

    Where R1 through R4 are Resistance levels 1 to 4, PP (https://www.mypivots.com/dictionary/definition/159/pivot-point-pp) is the Pivot Point


    (https://www.mypivots.com/dictionary/definition/159/pivot-point-pp), S1 through S4 are support levels 1 to 4, RANGE is the High
    (https://www.mypivots.com/dictionary/definition/91/high) minus the Low (https://www.mypivots.com/dictionary/definition/107/low) for the given time
    frame (usually daily).

    One of the key differences in calculating Woodie's Pivot Point (https://www.mypivots.com/dictionary/definition/159/pivot-point-pp) to other pivot
    points (https://www.mypivots.com/dictionary/definition/155/pivot-points) is that the current session's open price is used in the PP
    (https://www.mypivots.com/dictionary/definition/159/pivot-point-pp) formula with the previous session's high and low. At the time-of-day that we
    calculate the pivot points (https://www.mypivots.com/dictionary/definition/155/pivot-points) on this site in our Daily Notes
    (https://www.mypivots.com/DailyNotes) we do not have the opening price so we use the Classic formula for the Pivot Point
    (https://www.mypivots.com/dictionary/definition/159/pivot-point-pp) and vary the R3 and R4 formula as per Woodie's formulas.

    See also Classic Pivot Points (https://www.mypivots.com/dictionary/definition/46/classic-pivot-points) and Camarilla Pivot Points
    (https://www.mypivots.com/dictionary/definition/42/camarilla-pivot-points).

    Do you have a trading or investing definition for our dictionary? Click the Create Definition (/dictionary/create) link to add your own definition.
    You will earn 150 bonus reputation points for each definition that is accepted.
    Is this definition wrong? Let us know by posting to the forum (/board) and we will correct it.

    Emini Day Trading (/) / Daily Notes (/dailynotes) / Forecast (/forecast) / Economic Events (/economic-events) / Search (/search) / Terms and
    Conditions (/page/details/terms) / Disclaimer (/page/details/disclaimer) / Books (/book) / Online Books (/online-trading-book) / Site Map (/page) /
    Contact (/help/contact) / Privacy Policy (/page/details/privacy) / Links (/page/details/links) / About (/page/details/about) / Day Trading Forum
    (/board) / Investment Calculators (/investment-calculators) / Pivot Point Calculator (/investment-calculators/pivot-point-calculator) / Market Profile
    Generator (/investment-calculators/market-profile-calculator) / Fibonacci Calculator (/investment-calculators/fibonacci-calculator) / Mailing List
    (/page/details/list) / Advertise Here (/page/details/advertise) / Articles (/article) / Financial Terms (/dictionary) / Brokers (/broker) / Software
    (/software) / Holidays (/market-holidays) / Stock Split Calendar (/stock-split-calendar) / Mortgage Calculator (/investment-calculators/mortgage-
    calculator) / Donate (https://www.paypal.com/cgi-bin/webscr?
    cmd=_xclick&[email protected]&no_shipping=2&no_note=1&currency_code=USD&tax=0&lc=US&item_name=MyPivots%20Donation)

    Copyright © 2004-2023, MyPivots. All rights reserved. (/page/details/copyright)

    You might also like