Calculate support and resistance using 5 methods
Pivot points are calculated from the previous period's high, low, and close to identify potential support and resistance levels for the current period.
Classic: PP = (H+L+C)/3, then R1/S1 from PP, R2/S2 from range. Fibonacci: uses 38.2%, 61.8%, and 100% of the range. Woodie: weights the close more heavily. Camarilla: produces levels closer to the current price. DeMark: adjusts based on open vs close relationship.
Traders use these levels for intraday entries, stop placement, and profit targets. The central pivot point (PP) often acts as a magnet for price.
