How To Copy A Formula In Excel To Another Cell Forex Pivot Point Calculator- How To Make Your Own Or Download Free

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Forex Pivot Point Calculator- How To Make Your Own Or Download Free

Many successful traders use the pivot point calculator on a daily basis to determine key support and resistance levels where they can expect price to react.

You can download a free breakeven calculator from any web site by doing a simple search on your favorite search engine.

However, I like to use a pivot point calculator that I can customize based on the currency pairs I like to trade. I also like that the additional rev levels are noted for reference.

You can create your own pivot point calculator very easily using a Microsoft Excel spreadsheet. (Or, if you prefer, you can download a free copy of what I use, which is listed in the resource box below).

The formula

The formula for creating pivot points is based on four numbers that you need to get from your forex charting software. You just need these values ​​that you can look at yesterday’s candle on the daily chart:

  • High
  • Low
  • Open
  • close

The key figure in your pivot point calculator is the central pivot point. This value is obtained by adding the High, Low and Close numbers together and dividing the total by 3. That is all! Now you have a central pivot point.

This pivot point now gives you the basis for calculating other levels such as R1, R2, S1 and S2.

Because the distance between these levels can sometimes be quite significant, many traders also include intermediate levels on their charts and refer to them as M1, M2, M3, and M4. They are arranged as follows:

  • M1 – between S1 and S2
  • M2 – between S2 and the central pivot point
  • M3 – Between the center pivot point and R1
  • M4 – between R1 and R2

The formulas for the other levels are:

S1: (central pivot x 2) minus higher

S2: Center pivot point minus (R1 minus S1)

R1: (center pivot x 2) minus low

R2: (Center Pivot minus S1) plus R1

Once these levels are calculated, it’s easy to add the M levels to your pivot point calculator.

M1: S1 minus S2 divided by 2

M2: Center Pivot minus S1 divided by 2

M3: R1 minus the center pivot divided by 2

M4: R2 minus R1 divided by 2

The resource box below has a link to a spreadsheet set up for the six major currency pairs. I use this pivot point calculator as part of my preparation for each day’s trading session.

I simply call up my daily chart, hover over yesterday’s candle, which automatically gives me a popup showing the High, Low, Close and Open values.

Then I just enter them into the appropriate cells in the spreadsheet and all the pivot points are automatically calculated for me.

After that, I insert horizontal lines to mark key pivot levels on the 15-minute chart. This allows you to see the general area of ​​price activity for the day.

Sometimes the price crosses the daily average range and crosses R2 or S2. In the spreadsheet referenced below, additional pivot levels have been calculated to provide guidance for such trading days.

Pivot points are one of the main tools traders use to determine where price is likely to go and where it is likely to stop. Use the formulas above to create your own breakeven calculator, or use the free download below.

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