PIVOT, SUPPORT AND RESISTANCES
Fibonacci Trader can draw the traditional daily pivot lines in any intraday chart.
The next picture shows the S&P Mini 1 minute/10 minutes/Daily chart, we are in there using the indicator Pivot/Sup/Res for the highest period in this case the daily data. The horizontal lines are the daily pivot, support and resistance, note they are plotted for the complete day. These are the traditional pivot, support and resistance calculations ( red, cyan and green lines) plus other 2 (magenta and blue lines).
The next chart shows the same S&P Mini, now with a 81 minutes/Daily/Weekly chart. The supports are now calculated to the next time frame of the chart (the daily), but the value for the lines are the same.
The calculation of these lines are
Pivot = (H + L + C)/3, not we have an option to change the pivot to use (O + H + L) where O is the open of the current period.
Support 1 = Pivot * 2 - High
Resistance 1 = Pivot *2 - Low
Support 2 = Pivot - Resistance 1 + Support 1
Resistance 2 = Pivot + Resistance 1 - Support 1
Support 3 = Pivot - Resistance 2 + Support 1
Resistance 3 = Pivot + Resistance 2 - Support 1
Support 4 = Pivot - Resistance 2 + Support 2
Resistance 4 = Pivot + Resistance 2 - Support 2