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Classic Chart Indicators and Studies Find descriptions, formulas, parameters, and other help for the indicators and studies used by the Barchart.com Classic Charting application below. When charting any of the studies, the argument coloring is red, green then blue. For example, on a Moving Average chart [9, 18, 40], the 9 day would be the red line, 18 day would be the green line and the 40 day would be the blue line. The argument order is displayed on the chart next to the study name. Pivot PointsPivot points are calculated using the previous session's high, low, and close. The pivot point is simply the average of the previous session's high, low, and close. The formulas for the first and second resistance levels and first and second support levels are shown below. Pivot points are used primarily as support/resistance numbers. The market should find resistance at the pivot numbers on the upside and support at the pivot numbers on the downside. The pivot point itself is a stronger support/resistance number than the first and second support and resistance levels. Pivot points can also be used as a test price for the short-term trend. If the market rallies above the pivot point, for example, the market may be indicating some strength. By the same token, a move in the market below the pivot point may represent a weak market. Pivot numbers are very popular on the exchange floors and are used by a significant number of traders. Pivot points are used in our technical indicators. The formulas used in pivot points are as follows:
The formulas are the same for each bar, whether a trader is looking at a daily bar chart, a 10-minute bar chart, or a 30-minute bar chart, for example. Sample Chart:   TOP
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