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Vanez  
#1 Posted : Monday, October 17, 2005 10:22:40 PM(UTC)
Vanez

Rank: Newbie

Groups: Registered, Registered Users, Subscribers
Joined: 10/17/2005(UTC)
Posts: 1
Location: Byron Bay > NSW > Australia

Hey all. Just letting you know that I just purchased MS last night... so I'm real new to this. I have this EXEL Spreadsheet that calculates Support And Resistance Lines. I used to have Incredible Charts, and I used to manually put in the values (as Horizontal Lines on the chart) the spreadsheet gave me, which was very painful. Then I found out the potential power of MS! I was wondering if it was possible to write an indicator/system that could do my spreadsheets calculation and my manual labour automatically! I've been looking around the site's forums for people with similar questions, but i believe that my question is on a commonly asked question, it just has a little twist that no one else has specifically asked. This is what I used to do: 1. Set my chart to monthly 2. Write down the PREVIOUS month's High Low and Close 3. Plug the previous month's H L and C into the spreadsheet. 4. The spreadsheet had this formula in itself: H= Previous Month's High L= Previous Month's Low C= Previous Month's Close Pivot =(H+L+C)/3 R1 =2*P-L R2 =(P-S1)+R1 R3 =2*P+(H-2*L) S1 =2*P-H S2 =P*(R2-S1) S3 =(2*P)-(2*H-L) With R1 being Resistance Line 1 and so on... and S1 being Support Line 1 and so on... 5. I'd then note the values it then calculated 6. Then I'd manually place a Horizontal Lines on the values I noted from the spreadsheets. 7. I'd then repeat steps 1-6 for every stock in my watch list!! (See what I mean :( ) Basically I'd do this every month to get an idea where all the Support and Resistance Lines are at, and when I apply the indicator/system, horizontal lines pop up on the chart, which satisfy the above formula. Question: Is it possible to design a code that does the above procedures automatically? If so, can you give me a look at what the code would look like? [color=red:4f4d1ef226](If you solve this you will be known as a champion knight in my books :D )[/color] If not, can you give me some tips that might enable me to achieve my goal? Thanks for reading my plea. Hope someone can give me feedback. Love always, Vanez
Jose  
#2 Posted : Tuesday, October 18, 2005 1:26:47 AM(UTC)
Jose

Rank: Advanced Member

Groups: Registered, Registered Users
Joined: 1/19/2005(UTC)
Posts: 1,065
Location: Koh Pha-Ngan, Earth

Was thanked: 2 time(s) in 2 post(s)
Vanez wrote:
S2 =P*(R2-S1)
Perhaps this pivot should be something like S2= (P-R1)+S1 instead.
Vanez wrote:
Love always, Vanez
Unfortunately Love doesn't pay the bills. :? But since we've been asked to be nice to Newbies... MetaStock -> Tools -> Indicator Builder -> New -> Copy and paste indicator formula. [code:1:663f91001b] { Monthly pivots v2.0 } { ©Copyright 2002~2005 Jose Silva For personal use only. http://www.metastocktools.com } { Message } message:=Input("plot on Weekly/Daily/Intraday charts",0,0,0); { Month's start } mthStart:=Month()<>Ref(Month(),-1); { Previous Month's High } Hi:=HighestSince(1,mthStart,H); mHi:=ValueWhen(1,mthStart,Ref(Hi,-1)); mHi:=ValueWhen(1,mHi>0,mHi); { Previous Month's Low } Lo:=LowestSince(1,mthStart,L); mLo:=ValueWhen(1,mthStart,Ref(Lo,-1)); mLo:=ValueWhen(1,mLo>0,mLo); { Previous Month's Close } mCl:=ValueWhen(1,mthStart,Ref(C,-1)); mCl:=ValueWhen(1,mCl>0,mCl); { Pivot } pivot:=(mHi+mLo+mCl)/3; { Support & Resistance } R1:=2*pivot-mLo; S1:=2*pivot-mHi; R2:=(pivot-S1)+R1; S2:=(pivot-R1)+S1; R3:=2*pivot+(mHi-2*mLo); S3:=2*pivot-(2*mHi-mLo); { Plot pivots on chart } R3;R2;R1; pivot; S1;S2;S3 [/code:1:663f91001b] jose '-) [color=green:663f91001b]MetaStockTools.com[/color] [color=white:663f91001b].[/color]
Ugly_Dog  
#3 Posted : Friday, November 18, 2005 3:41:07 AM(UTC)
Ugly_Dog

Rank: Newbie

Groups: Registered, Registered Users
Joined: 11/13/2005(UTC)
Posts: 4

Jose Another newbie sends his love (and appreciation!) :)
brownsfan019  
#4 Posted : Tuesday, November 22, 2005 11:02:16 PM(UTC)
brownsfan019

Rank: Member

Groups: Registered, Registered Users, Subscribers
Joined: 9/9/2005(UTC)
Posts: 18

Jose, Thanks for the posting the monthly pivots too! I came back to ask for that, and there it was.
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