Pivot Point
This is the average price over a given period, usually a day. This point can be measured daily. For an accurate calculation of the pivot point, use this formula: Pivot = (High (highest point of the day prices) + Low (lowest price point of the day) + Close (closing price)) / 3. There is also a dynamic daily pivot, ie its value changes more than once a day, but, say, every five hours. For different trading strategies the time span may vary.

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