Fyers WebTrading Platforms

Introducing Pivot Points on Fyers Web

pivot points


It’s a pleasure for me to announce the launch of Pivot Points on our trading platform, Fyers Web. I understand that this has been long overdue due to various factors involved in the execution of this feature. However, I hope you will like it and think it’s worth the wait. Based on the popular feedback of our thousands of users, we have worked alongside TradingView by giving them our inputs to able to deliver the best features to our clients. Some of the pivot point features available are unique in India and exclusively available on Fyers Web trading platform. You can view our video tutorials on this topic on our Youtube channel in both, EnglishHindi

How are pivot points useful?

For those who are not aware, pivot points are used to determine key price levels which can cause a reaction by buyers and sellers during the trading day. Originally, they were created by the floor traders of the exchanges to quickly identify key levels. These price levels act as support and resistance lines and can also indicate levels where short-term reversals can occur and do often occur on a regular basis. Pivot points are commonly used by all types of traders but particularly those who are more interested in day trading & short-duration swing trading. Pivot points can be used in multiple timeframes and there are no fixed standards with regards to its usage as a technical analysis tool. They are most useful when combined with other technical analysis indicators/tools to identify momentum such as chart patterns, stochastics/RSI/MACD etc. Since they are so widely used by day traders around the world, the price levels can have a self-fulfilling prophecy in the short-term.

Interpreting Pivot Points:

They can be useful in identifying the overall market trend and the predictable range. On days when the market volatility is high, the higher support & resistances should be considered as the potential range and on days when the market volatility is low, the lower support and resistance levels should be considered as the potential range during the day. Pivot point levels are also widely used to enter and exit trades. Usually, if the price breaks out of the uppermost resistance or the lowermost support, there might be a further movement in the same direction. However, if the prices are within their normal range, then these levels can indicate reversals.

List of Pivot Points features on Fyers Web:

In total, we have 6 types of Pivot Points on our trading platform which is the highest on any trading platform in India. While most retail traders use standard pivot points, we have several variants for you. These will help you analyze trading opportunities using different levels as reference points. The different types of pivot points are as follows with the appropriate explanation for each of them:

  1. Traditional

     These pivot points are calculated using the previous period’s closing prices and it is a simple average of the low, high and close. The support & resistance lines are derived from the pivot points. For instance, in this case:

    – Pivot Point (P) = (Low + High + Close) / 3
    – Resistance 1 (R1) = (Pivot * 2) – Low
    – Support 1 (S1) = (Pivot * 2) – High
    – Resistance 2 (R2) = Pivot + (High – Low)
    – Support 2 (S2) = Pivot – (High – Low)
    – Resistance 3 (R3) = Pivot * 2 + (High – 2 * Low)
    – Support 3 (S3) = Pivot * 2 – (2 * High – Low)
    – Resistance 4 (R4) = Pivot * 3 + (High – 3 * Low)
    – Support 4 (S4) =  Pivot * 3 – (3 * High – Low)
    – Resistance 5 (R5) = Pivot * 4 + (High – 4 * Low)
    – Support 5 (S5) =  Pivot * 4 – (4 * High – Low)

  2. Fibonacci

    The starting point of Fibonacci pivot points are the same as standard pivot points. However, they use the Fibonacci series numbers in the calculation of support and resistances unlike standard pivot points. It uses the previous day’s range (High – Low) with its corresponding Fibonacci level. Fibonacci series is used in multiple different indicators to project potential price levels using retracements, extensions, Arcs etc. This is yet another variant of the Fibonacci indicators available. The calculations are as follows:

    – Pivot Point (P) = (Low + High + Close) / 3
    – Resistance 1 (R1) = Pivot + 0.382 (High – Low)
    – Support 1 (S1) = Pivot – 0.382 (High – Low)
    – Resistance 2 (R2) = Pivot + 0.618 (High – Low)
    – Support 2 (S2) = Pivot – 0.618 (High – Low)
    – Resistance 3 (R3) = Pivot + (High – Low)
    – Support 3 (S3) = Pivot – (High – Low)

  3. Woodie

    It gives more weightage to the closing price of the previous period as compared to the standard and Fibonacci pivot points. Hence, the resistance and support levels of the woodie calculations are very different from the rest mentioned above. However, one must take note of the fact that woodie pivot points are not as widely used but it can be useful if you prefer this method of identifying price levels.

    – Pivot Point (P) = (Low + High + 2 * Open) / 4
    – Resistance 1 (R1) = (Pivot * 2) – Low
    – Support 1 (S1) = (Pivot * 2) – High
    – Resistance 2 (R2) = Pivot + (High – Low)
    – Support 2 (S2) = Pivot – (High – Low)
    – Resistance 3 (R3) = High + 2 (Pivot – Low)
    – Support 3 (S3) = High – 2 (High – Pivot)
    – Resistance 4 (R4) = Pivot R3 + (High – Low)
    – Support 4 (S4) =  Pivot S3 – (High – Low)

     

  4. Classic

     This method gives equal weight to all the prices of the previous period without a bias. The support and resistance levels are then calculated using the standard reference points of the highs and lows of the previous period. The calculation methodology for classic pivot points are as follows:

    – Pivot Point (P) = (Low + High + Close) / 3
    – Resistance 1 (R1) = (Pivot * 2) – Low
    – Support 1 (S1) = (Pivot * 2) – High
    – Resistance 2 (R2) = Pivot + (High – Low)
    – Support 2 (S2) = Pivot – (High – Low)
    – Resistance 3 (R3) = Pivot + 2 (Pivot – Low)
    – Support 3 (S3) = Pivot – 2 (High – Low)
    – Resistance 4 (R4) = Pivot + 3 (High – Low)
    – Support 4 (S4) =  Pivot – 3 (High – Low)

  5. DeMark

    This method of calculating pivot points use a different base and a set of formulas to calculate support and resistance levels. Unlike being fixed in other types, the Demark pivot points are conditional based on the open and close of the previous periods. The unique thing about this method is that these pivot points have only 1 resistance and support level unlike other calculation methods.
    – If Close < Open, then X = High + (2 * Low) + Close
    – If Close > Open, then X = (2 * High) + Low + Close
    – If Close = Open, then X = High + Low + (2 * Close)
    – Pivot Point (P) = X/4
    – Support 1 (S1) = X/2 – High
    – Resistance 1 (R1) = X/2 – Low

  6. Camarilla

    The calculation methodology of the pivot point is the same as the classic pivot points However, the resistance and support levels are calculated differently.These pivot points are widely used for intraday trading. It relies on the principles of mean reversion and a bit of trend following too. Camarilla pivot points were discovered by a successful fixed income trader named Nick Scott in 1989. The most important levels in this method are the S3, R3, S4 and R4. In this method, S3 and R3 are considered points of reversal and S4 and R4 levels indicate that a mean reversion has failed and a break beyond those levels indicate breakouts. The calculation is as follows:

    – Pivot Point (P) = (Low + High + Close) / 3
    – Resistance 1 (R1) = Close + (High – Low) * 1.1 / 12
    – Support 1 (S1) =  Close – (High – Low) * 1.1 / 12
    – Resistance 2 (R2) = Close + (High – Low) * 1.1 / 6
    – Support 2 (S2) = Close – (High – Low) * 1.1 / 6
    – Resistance 3 (R3) = Close + (High – Low) * 1.1 / 4
    – Support 3 (S3) = Close – (High – Low) * 1.1 / 4
    – Resistance 4 (R4) = Close + (High – Low) * 1.1 / 2
    – Support 4 (S4) =  Close – (High – Low) * 1.1 / 2

I have given you the formulas just so that you can analyze and decide which ones are the most beneficial for your kind of use. You can change the pivot points display from the settings window. Now that pivot points have been finally implemented, we will be introducing more features in the near future. We look forward to your continued patronage. If you like what we have done so far and want to spread the word about us, you can refer your friend to us here. It’ll go a long way in encouraging us to build a more robust trading platform for all traders in India.

Tejas Khoday

Tejas Khoday

Tejas is the Co-Founder & CEO at FYERS, the youngest team to get NSE’s broker license. He has a specialization in finance and has over 10 years of work experience spanning across proprietary trading, risk management, and broking. Tejas & his team started FYERS, a technology-focused brokerage as a mission to transform the trading/investment landscape in India.

59 Comments

  • Raj says:

    Facing issue with Pivots. The charts get compressed and loose their readability. Had posted a ticket regarding this. Please check.

    • Tejas Khoday Tejas Khoday says:

      Hi Raj, are you using a lot of drawing tools on the chart? Give me the ticket number so we can check it.

  • RAMESH M S says:

    Request you to kindly include 75 min time frame in Fyers Web platform. This is very helpful to intra day traders like me.

  • Any possibility that you can bring in Volume Profile in trade fyers? It would be great if you could bring the same

  • Can you also bring in Volume Profile indicator. It would be useful for intraday traders

  • Purushotham Gowda says:

    Suggestions to implement for Fyers Web.
    1. Pine Editor for Scripting our own indicators or strategies just like in trading view
    2. Conditional orders for futures and options based on underlying contract, so that i can execute market orders on futures/options when a particular price level is reached on underlying contract.
    3. Price Alert: this we help all the traders to do their trade management well
    FyersOne:
    More charting tools like trend based fib retracements, price range with customizations

    • Tejas Khoday Tejas Khoday says:

      Hi Purushotham Gowda,

      1. Pine Editor is something that I cannot comment on right now. There are certain fundamental policies surrounding this.
      2. Does any broker in India provide such conditional orders? If yes, let me know.
      3. This will be a big project as it is not as simple to execute in the back-end. We’ll take it up once we’re done with our existing developments.

  • AMIT KUMAR PANDEY says:

    SIR is it possible for you to introdue a order type in which after the execution of order we can convert in into bracket order by placing both target and stoploss so the one cancels the other instead of traditional bracket orders where we have to put all three at the same time.

    • Pratik Parthe Pratik Parthe says:

      Hi Amit, it is not possible as of now. You need to use our bracket order type to enter the “Target” and the “Stop-Loss” price along with the main price.

  • amit says:

    Dear sir;
    i request you to remove Admin Square-off charges as this don’t effect large traders but can adversely effect small traders.
    And even i don’t think that you have to manually close each and every open position ; so why you and others brokers are charging for this.
    if you really need times to square off open position then you reduce the square off time to 3.10 or 3.15.

    Above statement is just my view on admin square off charges and if there is some technical reason that i m unaware off then kindly forgive me.

    • Pratik Parthe Pratik Parthe says:

      Hi Amit, we understand that there are no physical efforts in squaring off the open positions, in fact, it is done by the system automatically. However, such things are subject to technical glitches if in excessive numbers. Therefore levying charges provokes traders to take care of their intraday open positions themselves and eradicates the risk of the technical glitch. Hope this clarifies.

  • ASHISH says:

    can you please introduce real time price alert on fyers web?

    • Pratik Parthe Pratik Parthe says:

      Hi Ashish, presently there is no price alerts functionality on Fyers Web. Going forward, the same shall be integrated before long. As an alternative to that, you can use Fyers One (Desktop platform) to get the price alerts.

  • hitesh says:

    one request is to add the option of buying above current price using stop loss limit order in cover orders,as most of the trade i take is above certain level….right now using stop loss limit to buy is not available in cover orders

  • Mukesh Gupta says:

    Will I get these features in fyers android app?

  • ASHISH says:

    can you please introduce realtime “alert” on fyers web??

  • Srinivasan says:

    Sir,
    Which pivot point type among these traditional,classic etc is mostly used by traders??
    I can see some difference in values among zerodha kite chart & fyers web pivot point values?
    Which one is widely used??

    • Tejas Khoday Tejas Khoday says:

      The values are calculated based on the data provided by the exchanges. Please double check if that is correct. Most traders in India use Classic IMO.

  • AMIT KUMAR PANDEY says:

    sir after applyinng pivots charts gets squeezed and we have to manually adjust it.
    Is it possible to solve this issue?

    • Tejas Khoday Tejas Khoday says:

      Gets squeezed?

      • Amit says:

        Sir i m not getting any proper word to explain the issue.
        Actually after applying pivots candles become smaller looks very different .
        Hope you understand the issue

  • Vijay says:

    Any plans to launch API trading? Any tentative date?

    • Tejas Khoday Tejas Khoday says:

      Hi Vijay, Launching APIs is not our immediate priority although they are ready. We’re working on other things at the moment. So, no tentative dates yet.

  • Vaibhav Tripathi says:

    Can you integrate these types on the Fyers One as well?

  • Trade_forever says:

    Thumbs up.. Any update on bracket orders?

  • Dharmesh says:

    this is a good surprise the way the support team was telling, I thought you will take another 3 months.. good news keep it up.. Pls change backoffice also

    • Tejas Khoday Tejas Khoday says:

      Well, we ask the support team not to commit to any deadlines. Glad that you were pleasantly surprised.

  • Dilip_Indore says:

    Tejas Ji, Aap Fyers mein jo features laa rahe hain, unme aap poput chart bhi add kar dijiye.. day trading ke liye bahut useful rahega, thanks.

    • Tejas Khoday Tejas Khoday says:

      Dilip, thanks for your good feedback. The pop-out charts feature has not been given due to concerns over bandwidth consumption. We’ll look into this in the future. However, you can open up to 8 charts on the same screen.

  • sooraj santhosh says:

    A very good initiative from fyers all different calculations are very useful and increases effectiveness of technical analysis.

  • Hardik_12 says:

    Great to see Camarilla pivot points and other so many types on Fyers trading platform.. good work! Waiting badly for Bracket orders to be launched by you.

  • Harsh says:

    Fyers platform has almost all the best features like data, best charts and trading too. But pls try to make sure that your platform will be stable even if your client base increases. You must be knowing that Zerodha platform failed a few days ago ad data was not showing.. Please dont repeat mistakes like them u can increase brokerage that’s not a problem but please make sure it is always stable like it is at this stage.

    • Tejas Khoday Tejas Khoday says:

      Harsh, we’re taking good measures to ensure that our scale-up is smooth! Our highest investment is on the IT infrastructure. Although in comparison to other brokerages, we spend a lot more on technology, we hope that our clients will appreciate it. Disruptions may happen, but I assure you that we will be proactive. Sometimes, even the exchanges can be down. For example, MCX servers were down 2 times today itself.

  • Niranjan says:

    I hope Fyers introduced MCX soon because pivot points are most useful in commodities according to me.

    • Tejas Khoday Tejas Khoday says:

      Niranjan, we are in the final stages of launching MCX. There’s some starting trouble due to delays from third parties involved. We shall get everything resolved asap. Can’t commit on deadlines, but we are shooting for this month.

  • Praveen Hegde says:

    This is indeed a very useful update. Thanks team Fyers. Way to go!

  • Karthik says:

    ONE OF THE MAIN ESSENTIAL TOOL WHICH WAS MISSING IN FYERS WEB PLATFORM, AND FINALLY THE WAIT IS OVER. NOW WE CAN TRADE WITH EASE. THANKS, FYERS TEAM .

  • Rahul roy says:

    Thank you for the update, Most waited for an update. It is really amazing worth waiting.

  • Samiksha says:

    Well Done… This is the easiest way, one can explain about Pivot points.

  • Indrajit Mishra says:

    Finally. Fyers team introduced all types of pivot points in one shot.. Tejas sir. I am happy to be ur client.

    • Tejas Khoday Tejas Khoday says:

      Hi Indrajit, thanks for your positive feedback. Feel free to spread the word about us. That’ll help us implement new features at a faster pace.

  • Ashutosh Pawar says:

    Good to know that the most awaited update has finally been given. I have been using Fyers web for a long while and this was probably the very needed feature lacking in the platform until now. Waiting for MCX and bracket order now 🙂

  • Govind says:

    Finally. Great to know Fyers team introduced all types of pivot points in one shot.. kudos to ur efforts Tejas sir. I am happy to be ur client.

  • YOGESH says:

    Pivotal point is good indicator it represents main key level of stock . usually its only available in fibinochhi , and standard calculated points , with
    All other brokers trading platform as I seen , compare to that the trading tool which fyers providing will be an added advantage on technical analysis part , and all this different calculations of pivot points will improves the reliability on this indicators . thanks for the most valuable tool bought into the platform. Which is very simple ,logical and understandable even by beginners .

    • Tejas Khoday Tejas Khoday says:

      HI Yogesh, yes we took extra time to launch this but I’m glad you like the additional features that we have implemented. Soon, we will be launching MCX. Stay tuned for that.

  • Deepak Hatkar says:

    I don’t use pivot points but I must say this is really well done. Users have so many options to choose from. My favourite setting within this indicator is ‘Pivot time frame’ where I can monitor ‘Daily’ pivot levels on all time frames without having to go to the daily time frame. Good job.

    • Tejas Khoday Tejas Khoday says:

      Yep, thanks Deepak! That’s one thing which will help traders keep the chart clutter free. You can also unselect certain resistance and support levels from the settings window if you don’t want them.

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