https://www.tradeviewforex.com/room/pivots-calculators/woodies


 Woodie's Pivot  Point = (H + L + 2 x C)/4

As with any pivot point, the most important calculations are for the resistance and support levels. The formulas for the same are as follows:

Supports


  1. S1 = ( 2 x Pivot ) - H
  2.  S2 = Pivot - ( H - L )
  3. S3 = L - 2 * (H - Pivot)

Resistances


  1. R1 = ( 2 x Pivot ) - L
  2. R2 = Pivot + ( H - L )
  3. R3 = H + 2 * (Pivot - L)

Meanings of abbreviations in the above formulas are as follows: 

  • H = Previous day's high.
  • L  = Previous day's low.
  • C = Previous day's closing price.
  • S1 = First level of support.
  • S2 = Second level of support.
  • S3 = Third level of support.   
  • R1 = First level of resistance.
  • R2 = Second level of resistance.   
  • R3 = Third level of resistance.