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2018issue C1248-58

Building a daily pivot lattice with Fibonacci rails

One completed day's high, low, and close can be rebuilt into a session support and resistance grid. Mid-levels fill the gaps between classic pivot prices, and Fibonacci retracements of an identified swing can sit on the same chart as a second ruler.

  • The central pivot is the mean of the prior session high, low, and close, and it is the origin for the rest of the daily grid.
  • Mid-levels are halfway prices between neighboring classic levels, and the completed overlay also includes the prior session high and low.
  • A session-reset locks yesterday's high, low, and close, then builds the current day's grid once while today's extremes keep updating.
  • Fibonacci retracements, projections, and time lines from identified swings can share the chart with the daily pivot and mid-level grid.
Entries in this reading3 entries
Current trackPivot point45 readingsFibonacci retracement97 readingsSupport and resistance170 readings

From one completed session

The modified daily-pivot construction keeps the classic floor-trader family and adds mid-levels between adjacent support and resistance prices, plus the prior session high and low.

The central pivot equals the mean of the prior session high, low, and close. A pivot point is that session reference price, used to project a family of support and resistance prices for the current session.

On this grid, support and resistance means a horizontal price where the constructed pivot family, mid-levels, or prior-day extremes are expected to be tested.

Classic levels and mid-levels

First resistance is twice the pivot minus the prior low. First support is twice the pivot minus the prior high.

The second pair adds or subtracts the prior-session-range from the pivot. That prior-session-range is the difference between yesterday's high and low, reused as the step size for second-tier and third-tier projections.

Each mid-level is the halfway price between two neighboring classic levels, equivalently the average of that pair, and is treated as an extra support or resistance line.

Microsoft daily SvePivot lattice, 18 October 2018

Mid-rails sit halfway between the classic floor pivots, so each named price is a distinct reaction hypothesis for the session. The figures are the Quantacula legend printed on the five-minute MSFT chart for the 18 October 2018 cash session, with R3 read from the matching axis tag.
Mid-rails sit halfway between the classic floor pivots, so each named price is a distinct reaction hypothesis for the session. The figures are the Quantacula legend printed on the five-minute MSFT chart for the 18 October 2018 cash session, with R3 read from the matching axis tag.MSFT · 5-minute · 2018-10-18T00:00:00.000Z to 2018-10-18T00:00:00.000Z

Lattice is computed from the prior session high, low and close and held flat through the cash session; Microsoft last printed 108.26 at 15:35, beneath S2.

The completed overlay

One complete overlay draws 15 horizontal references. The 13 derived prices stay ranked from the third resistance at the top to the third support at the bottom, while the prior high and low can sit anywhere in that stack.

Session-reset and lower-timeframe charts

Recalculation is session-based. A session-reset is the bar-to-bar change of trading day that freezes yesterday's extremes and close and rebuilds the entire grid once for the new session.

Those locked values generate the current day's grid while today's extremes continue to update.

Daily high, low, and close can be taken from a compressed higher timeframe and then synchronized back onto an intraday chart so the same session grid appears on lower-timeframe bars.

Fibonacci references on the same chart

Fibonacci retracements, projections, and time lines drawn from identified price swings are presented as a companion construction that can share the chart with the daily pivot and mid-level support-resistance grid.

A Fibonacci retracement is a measured fraction of a completed price swing, drawn as a horizontal or time reference that can be compared with the daily pivot rails on the same chart.

The same formulas can be published as a next-session report that lists the main support and resistance prices separately from the in-between mid-levels.

Educational research material, not investment advice. Historical source context does not establish present-day performance.
34 of 38 in the Pivot point track
201944-45 pp.Next on Pivot pointPrior-session pivot channels for same-day entriesMark prior-session support and resistance as horizontal lines on a two-session candlestick chart, then extend them into the current session as a prior-session-channel for entry and exit decisions.
All readings on this track · 38 readings
  1. 1988Constructing action-reaction lines from two pivots
  2. 1988Constructing intradaily point-and-figure boxes and pivot ladders
  3. 1991Constructing layered support and resistance from swings, pivots, and retracements
  4. 1994Three locks on a day-session order, then a staged exit
  5. 1994Building a five-level daily pivot grid
  6. 1996Constructing daily pivot points from session prices
  7. 1996Higher time frame balance points as a trend and band filter
  8. 1998Cup-with-handle construction rules
  9. 2000Pivot levels as a daily trade hypothesis
  10. 2001Construct a same-session polarity card around the daily pivot
  11. 2001Trading inside the cup-with-handle before the breakout
  12. 2005A lower-low rebound as one entry, abstention, and stop routine
  13. 2006Constructing session pivot maps from the prior high, low, and close
  14. 2006Constructing a pivot grid for stops and buy-stops
  15. 2006Monoparametric automatic trendline construction
  16. 2008Write the exit before the entry
  17. 2010Dynamic-pivot range grids for trend bias
  18. 2010Reverse-entry exits for pairs, pivots and support
  19. 2011Sequencing pairs, futures pivots, and implied volatility
  20. 2013Constructing Camarilla levels from prior range
  21. 2013Camarilla levels as a multi-timeframe map of reversion and breakout
  22. 2013Constructing a camarilla-grid from a completed lookback range
  23. 2013Constructing daily pivot support and resistance rungs
  24. 2014Constructing daily pivot levels from prior-session OHLC
  25. 2014Next-session pivot support and resistance from daily bars
  26. 2014Constructing session pivot rails from the prior-day range
  27. 2014Evaluating moving-average, pivot, and support-resistance filters
  28. 2016Stage a Trailing stop toward a planned target
  29. 2016Smoothed RSI and full-cut pivots for option-income exits
  30. 2017Constructing a weekly seasonality pivot scaffold
  31. 2017Seasonality and pivot points as scenario maps, not forecasts
  32. 2018Wave pivots, strength filters, and option premium
  33. 2018Constructing Fibonacci and daily pivot support maps
  34. 2018Building a daily pivot lattice with Fibonacci rails
  35. 2019Prior-session pivot channels for same-day entries
  36. 2019Constructing intraday pivot channels from prior-session levels
  37. 2020Variable-strength pivot highs as falsifiable entry filters
  38. 2020A high-volume-pivot long after a multi-week decline
By fieldTrend and channels181 readingsBy year201898 readings
All 45 readings tagged Pivot point
Also on Pivot point5 readings
1991Constructing layered support and resistance from swings, pivots, and retracements2010Dynamic-pivot range grids for trend bias1999Compound pivots and market symmetry2008Write the exit before the entry2013Camarilla levels as a multi-timeframe map of reversion and breakout