Pivot Calculator And Risk/Reward Analysis
How to trade using pivots
Floor trader pivots come from the pit traders. A lot of people use them so they are almost self fulfilling. The main pivot point is usually used as the primary trend indicator. If price is above the primary go long and if below go short. The others act as normal support and resistance levels. Generally price will not penetrate S/R 3 if it does it will probably be a big move. You can use these for daily, weekly and monthly.
Camarilla pivots show probable levels of support and resistance in a current trend. It's kind of hard to find information on these and I don't use them much. R3/S3 are the major levels where you can expect a reversal. R4/S4 are the breakout levels. If price trades above those levels it's a good bet price is going to continue in that direction. They seem to work pretty well though on the daily charts.
DeMark pivots aren't really pivots. They were invented by a guy named Tom DeMark and attempt to identify the high and low points for the period. They need the current open price to determine which formula to use in the calculation. Mostly good for Daily.
Woodie's pivots are pretty much like the floor trader pivots but the formula gives more weight to the closing of the previous day. These are good to use on days where there is a large gap up or down. When I use them I tend to use both woodie and the floor trader pivots until I can determine which ones are going to give me the better signals.
Daily Pivot Points