Yes, pivot point does move.
Pivot point is the middle line. It’s calculated based on previous time period. That’s why we have different types of Pivot Points based on specific time.
Formula is always the same:
Pivot = (High + Low + Close)/3
If we are calculating pivot line for daily Pivot Points then we take high, low and close from previous day.
If we want to calculate pivot line for weekly Pivot Points then we take high, low and close from previous week.
That’s why we have:
- daily Pivot Points – most popular, calculated based on previous day
- weekly Pivot Points – based on previous week
- monthly Pivot Points – based on previous month
- yearly Pivot Points – based on previous year
- 4-hour Pivot Points – based on previous 4-hour candle
- and so on
So you can see that pivot line move when there is new candle – there is a new daily candle, we can calculate new daoly Pivot Points based on previous candle.
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