The
pivot range is based on Mark Fisher's approach. Uses the standard
pivot point formula but takes it a little bit further.
The pivot range:
1. Pivot price (also equals formula for a pivot point) = (high + low + close) / 3
2. Second number = (high + Low) / 2
3. Pivot differential = daily pivot price - second number
4. Pivot range high = daily pivot price + pivot differential
5. Pivot range low = daily pivot price - pivot differential
Source:
