Pivot Trader

    Pivot Trader icon

    Pivot Trader

    by: 10 6.4

    6.4 Users



    Pivot Trader is a convenient tool for Android devices that displays pivot point levels for a list of securities in a customizable portfolio. Levels can be refreshed daily with end-of-day data from the quotes server, and viewed in several time frames.

    Pivot Trader defines price levels as follows:

    P = (H + L + C) / 3
    R1 = P + (P - L) = 2×P - L
    S1 = P - (H - P) = 2×P - H
    R2 = P + (H - L)
    S2 = P - (H - L)
    R3 = P + 2×(H - L)
    S3 = P - 2×(H - L)

    Common trading strategy using pivot points

    * If price opens above previous session's pivot point (PP), sentiment is bullish
    * If price opens below previous session's pivot point (PP), sentiment is bearish
    * On bullish sentiment, use resistance levels (R1, R2, R3) to close a long position
    * On bearish sentiment, use support levels (S1, S2, S3) to cover a short position
    * Use a longer pivot time frame than the time frame you are trading in (ex: use monthly or weekly pivots when trading daily charts)
    * For intra-day trading, use volatility indexes as additional confirmation of sentiment (^VIX, ^VXN)

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