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Pivot Point Calculator by FXTSP

Pros:

This simple tool requires a specific currency pair’s high, low and close price in order to calculate three sets of support and resistence lines as well as the pivot point. It is easy to use and instructions as well as formulas are located at the bottom of the tool.

Cons:

There is room for human error as traders have to enter the high low and close themselves. This adds a level of subjectivity to this tool that may not be intended. Tool would be more useful if it was attached to a live forex chart.

Overview:

The Forex Pivot Point Calculator is available free tool that anyone can use on the FXTSP website. It is easy to use with only 3 data points to be entered by traders. It also has the formula shown below the tool to teach traders more about how pivot points are calculated. Tool can be found and used at the following link.

Check out this tool