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Pivot Points 枢心点: Page 6 of 7

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Know the 3 Other Types of Pivot Points

While we suggest that you stick to the standard method of calculating pivot points, you should know that there are other ways to calculate for pivot points. In this lesson, we will talk about these other methods, as well as give you the formulas on how to calculate for these levels.

Woodie Pivot Point

R2 = PP + High – Low

R1 = (2 X PP) – Low

PP = (H + L + 2C) / 4

S1 = (2 X PP) – High

S2 = PP – High + Low

C – Closing Price, H – High, L – Low

In the formulas above, you’ll notice that the pivot point calculation is very different from the standard method.

Also, in order the calculate for the corresponding support and resistance levels, you would use the difference between the previous day’s high and low, otherwise known as the range.

Here’s a chart example of the Woodie pivot point calculation applied on EURUSD. The Woodie pivot point, support levels, and resistance levels are the solid lines while the dotted lines represent the levels calculated through the standard method.

Woodie Pivot Point

Because they have different formulas, levels obtained through the Woodie calculations are very different from those gotten through the standard method.

Some traders prefer to use the Woodie formulas because they give more weight to the closing price of the previous period. Others prefer the standard formulas because many traders make use of those, which could make them self-fulfilling.

In any case, since resistance turns into support (and vice versa), if you choose to use the Woodie formulas, you should keep an eye on these levels as they could become areas of interest. Whatever floats your boat!

Camarilla Pivot Point

R4 = C + ((H-L) x 1.5000)

R3 = C + ((H-L) x 1.2500)

R2 = C + ((H-L) x 1.1666)

R1 = C + ((H-L) x 1.0833)

PP = (H + L + C) / 3

S1 = C – ((H-L) x 1.0833)

S2 = C – ((H-L) x 1.1666)

S3 = C – ((H-L) x 1.2500)

S4 = C – ((H-L) x 1.5000)

C – Closing Price, H – High, L – Low

The Camarilla formulas are similar to the Woodie formula. They also use the previous day’s close and range to calculate the support and resistance levels.

The only difference is that you should calculate for 8 major levels (4 resistance and 4 support), and each of these levels should be multiplied by a multiplier.

The main concept of Camarilla pivot points is that it is based on the idea that price has a natural tendency to revert back to the mean (sound familiar?), or in this case, the previous day’s close.

The idea is that you should buy or sell when price reaches either the third support or resistance level. However, if price were to burst through S4 or R4, it would mean that the intraday trend is strong, and it’s about time you jump on that bandwagon!

Check out how the Camarilla calculation gives different levels (solid lines) compared to the standard method’s levels (dotted lines)!

Camarilla Pivot Point

As you can see from the chart above, more emphasis is given to the closing price as opposed to the pivot point. Because of this, it’s possible that resistance levels could be below the pivot point or support levels could be above it.

See how all the support and resistance levels are above the Camarilla pivot point?

Fibonacci Pivot Point

R3 = PP + ((High – Low) x 1.000)

R2 = PP + ((High – Low) x .618)

R1 = PP + ((High – Low) x .382)

PP = (H + L + C) / 3

S1 = PP – ((High – Low) x .382)

S2 = PP – ((High – Low) x .618)

S3 = PP – ((High – Low) x 1.000)

C – Closing Price, H – High, L – Low

Fibonacci pivot point levels are determined by first calculating the pivot point like you would the standard method.

Next, multiply the previous day’s range with its corresponding Fibonacci level. Most traders use the 38.2%, 61.8% and 100% retracements in their calculations.

Finally, add or subtract the figures you get to the pivot point and voila, you’ve got your Fibonacci pivot point levels!

Look at the chart below to see how the levels calculated through the Fibonacci method (solid lines) differ from those calculated through the standard method (dotted lines).

Fibonacci Pivot Point

The logic behind this is that many traders like using the Fibonacci ratios. People use it for retracement levels, moving averages, etc.

Why not use it for pivot points as well?

Remember that both Fibonacci and pivot points levels are used to find support and resistance. With so many traders looking at these levels, they can actually become self-fulfilling.

Which pivot point method is best?

The truth is, just like all the variations of all the other indicators that you’ve learned so far, there is no single best method. It really all depends on how you combine your knowledge of pivot points with all the other tools in your forex trading toolbox.

Just know that most charting software that do automatic calculations normally use the standard method in calculating for the pivot point levels.

But now that you know how to calculate for these levels on your own, you can give them all a swing and see which one works best for you. Pivot away!

其它3种枢纽点的计算方法

       虽然我们建议你采用标准的枢纽点计算方法,但是,你也应该知道其它计算枢纽点的方法。在本课中,我们将讨论枢纽点的其它计算方法,并告诉你如何计算这些价位。

伍迪枢纽点

R2 = PP + High - Low
R1 = (2 X PP) - Low
PP = (H + L + 2C) / 4
S1 = (2 X PP) - High
S2 = PP - High + Low
C-Closing Price(收盘价),H-High(最高价),L-Low(最低价)

       从上面的公式我们可以发现,伍迪枢纽点的计算和标准枢纽点的计算方法非常不同。

       同时,为了计算相应的支撑和阻力位,你也应该用到前一个交易时段最高价和最低价之差,即我们所知的交易区间。

       下图是伍迪枢纽点运用于欧元/美元中的例子。伍迪枢纽点、阻力位以及支撑位都是稳定的水平线,而图中的虚线则是用标准枢纽点方法计算出的水平位。

       由于它们的计算方法不同,通过伍迪方法计算的枢纽点水平和通过标准方法计算的枢纽点位非常的不同。

       一些交易者倾向于使用伍迪公式,因为它给予前一个交易时段收盘价的权重更大。另一些交易者则喜欢标准公式,因为有更多的交易者使用它,这也可能使得标准枢纽点位成为自我实现的寓言。

       不管怎样,鉴于阻力可能变为支撑(反之亦然),如果你选择使用伍迪公式,你应该关注这些阻力转支撑或支撑转阻力位,因为它们可能变为非常重要的区域。

卡玛利拉枢轴点

R4 = C + ((H-L) x 1.5000)
R3 = C + ((H-L) x 1.2500)
R2 = C + ((H-L) x 1.1666)
R1 = C + ((H-L) x 1.0833)
PP = (H + L + C) / 3
S1 = C - ((H-L) x 1.0833)
S2 = C - ((H-L) x 1.1666)
S3 = C - ((H-L) x 1.2500)
S4 = C - ((H-L) x 1.5000)
C-Closing Price(收盘价),H-High(最高价),L-Low(最低价)

       卡玛利拉枢纽点和伍迪枢纽点非常类似。它也使用前一交易时段的收盘价和最高价以及最低价来计算支撑位和阻力位。

       唯一的不同在于,你应该计算8条主要的水平位(4条阻力位和4条支撑位),而且每条水平位都是通过和具体的乘数相乘得出。

       卡玛利拉枢纽点的主要理念基于这一观点,即价格倾向于回归至前一交易时段的收盘水平。

       这意味着,当回家达到第三条阻力线或支撑线时,你应该卖出或买入。不过,如果价格突破S4或R4,则意味着日内趋势非常强劲,而你也应该放弃先前的想法。

       现在让我们看看,通过卡玛利拉计算方法和标准方法计算出的枢纽点位的不同吧,图中虚线为通过标准方法计算的枢纽点水平位。

       如上图所示,和标准枢纽点不同,收盘价权重在卡玛利拉枢纽点的计算中占有更大比例,有鉴于此,卡玛利拉枢纽点阻力位可能低于枢纽点水平,或支撑位可能高于枢纽点水平。

       看看,在本例中,阻力位和支撑位水平都在卡玛利拉枢纽点的上方。

斐波那契枢纽点

R3 = PP + ((High - Low) x 1.000)
R2 = PP + ((High - Low) x .618)
R1 = PP + ((High - Low) x .382)
PP = (H + L + C) / 3
S1 = PP - ((High - Low) x .382)
S2 = PP - ((High - Low) x .618)
S3 = PP - ((High - Low) x 1.000)
C-Closing Price(收盘价),H-High(最高价),L-Low(最低价)

       斐波那契枢纽点PP的计算和标准枢纽点PP的计算方法一样。不同的地方在于支撑位和阻力位的计算。

       下一步,我们将前一个交易区间的具体数值(最高价减去最低价)和相应的斐波那契水平相乘。绝大多数交易者利用38.2%、61.8%以及100%的回撤位作为乘数。

       最后,将PP和你之前计算的数值相加或相减,即得到具体的阻力位或支撑位。好了,我们已经得到了斐波那契枢纽点位。

       如下图所示,让我们看看,斐波那契枢纽点位和标准枢纽点位(图中虚线)有何不同。

       使用斐波那契枢纽点的逻辑在于,多数交易者喜欢使用斐波那契比率。人们在回撤位、移动均线等众多指标中都在使用斐波那契比率。

       所以,为什么不能将斐波那契利率运用到枢纽点计算中呢?

       我们要记住的是,斐波那契和枢纽点都是用来寻找支撑位和阻力位的。由于众多的交易者都在关注着这些价位,因此它们能够变为自我实现的寓言。

那种方法更好?

       事实是,和你截至目前所学习到的其他指标的所有变体一样,没有哪一种是做好的方法。这完全取决于如何将你学到的枢纽点知识和你的所掌握的其他交易工具的结合使用。

       我们要知道,绝大多数外汇交易图形软件都会自动计算标准枢纽点水平位。

       但是,鉴于我们已经知道了计算这些枢纽点位的防范,我们能够将他们一并画在我们的图形上,来比较哪种方法计算出的枢纽点最适合我们的交易。