Pivot Point - Which Close to use?

Hello,

I want to know which CLose do you use in the calculation of Pivot points for next trading day. Do you use the "Average closing Price" for the day which is basically the close you can determine from Metastock or any other charting package OR do you use "Last Traded price" as the closing price.

Vivek

Ideally, one should use the last traded price given by stock exchange. As it is not always practical to get this for my analysis, I prefer to use the closing price given by the datafeed that I am using. At least that gives little bit of consistency.
Anyway, it will be only few ticks away from anyother source. That means, my pivot levels will not be laser precise but they will be correct to a large extent where I can take trading decision. You might have noticed, in real time, prices do penetrate / whipsaw a bit.. so trader needs to give a margin of few ticks to price levels.

Hope this helps.
happy trading.

yes use average price of high, low, close.

high low close
4015 3990 4001/3