Pivot Point analysis - excel sheet help needed

#1
Hi everyone ,

Im trying to learn excel on my own , for my own good , but untill then, I dont want to base my trades on my "Could be wrong" excel knowledge, I require some help ;as its a pain to use the calculator every morning. If Im not asking for too much , please let me know how to make an excel sheet which gives me the support and resistance levels with the following formulae :

Pivot = (Topen + High + Low + close ) / 4
Support 1= (Pivot X 2) - High
Resistance 1= (Pivot X 2) - Low
Support 2 = Pivot - (Resistance1 - Suppport1)
Resistance 2 = Pivot + (Resistance1 - Support1)

Where I will be able to enter the values of Topen, High , Low and Close myself .

Any help appreciated . Thanx .
 

reachjj

Active Member
#2
Hi everyone ,

Im trying to learn excel on my own , for my own good , but untill then, I dont want to base my trades on my "Could be wrong" excel knowledge, I require some help ;as its a pain to use the calculator every morning. If Im not asking for too much , please let me know how to make an excel sheet which gives me the support and resistance levels with the following formulae :

Pivot = (Topen + High + Low + close ) / 4
Support 1= (Pivot X 2) - High
Resistance 1= (Pivot X 2) - Low
Support 2 = Pivot - (Resistance1 - Suppport1)
Resistance 2 = Pivot + (Resistance1 - Support1)

Where I will be able to enter the values of Topen, High , Low and Close myself .

Any help appreciated . Thanx .
Topen is today's open? and rest of the values are of yesterdays?
 

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