# Excel Formula Number Of Cells With Value Under Certain Amount Forex Pivot Point Calculator- How To Make Your Own Or Download Free

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A pivot point calculator is used by many successful traders on a daily basis to pinpoint key support and resistance levels where they can expect price action.

You can download a free pivot point calculator from some web sites on the net by doing a simple search in your favorite search engine.

However, I like to use a pivot point calculator that I can customize according to the exact currency pair I like to trade. Also I would like to mark additional pivot levels for reference.

Microsoft Excel spreadsheets lend themselves very easily to creating your own pivot point calculator. (Or if you prefer you can download a free copy of the one I used listed in the resource box below).

formula

The formula for creating pivot points is based on the 4 points you need to get from your forex charting software. You need these values ​​which can be obtained by looking at yesterday’s candle on the daily chart:

• high
• less
• open up
• turn it off

The key figure in your pivot point calculator is the central pivot point. This value is obtained by adding the high, low and close points and dividing the total by 3. This is it! You now have your central pivot point.

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

The distance between these levels can sometimes be so significant that many traders also place mid-levels on their charts and refer to them as M1, M2, M3, and M4. They are located as follows:

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

The formulas for other levels are:

S1: (central pivot point x 2) minus high

S2: Central pivot point minus (R1 minus S1)

R1: (Central Pivot Point x 2) Minus Min

R2: (central pivot point minus S1) plus R1

Once these levels are calculated it is easy to put the M levels in your pivot point calculator.

M1: S1 minus S2 divided by 2

M2: Central pivot point minus S1 divided by 2

M3: R1 minus the central pivot point divided by 2

M4: R2 minus R1 divided by 2

The resource box below has a link to a spreadsheet set up for 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 my mouse over yesterday’s candle which automatically gives me a popup window showing the high, low, close and open values.

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

I then insert horizontal lines to mark key pivot levels on the 15-minute chart. This enables you to see a general area of ​​price activity for the day.

Sometimes the price goes outside the average range for the day and exceeds R2 or S2. In the spreadsheet below, additional pivot levels are calculated to give some guidance for such trading days.

Pivot points are one of the main tools that traders use to determine where price is likely to go and where it is likely to stall. Either use the formulas above to create your own pivot point calculator or use the free download below.

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