Rank: Member
Groups: Registered, Registered Users, Subscribers
Joined: 10/27/2007(UTC)
Posts: 11
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Is there an indicator to plot support and resistance based on the closing price?
Thanks
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Rank: Newbie
Groups: Registered, Registered Users
Joined: 1/12/2008(UTC)
Posts: 7
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Resistance and Support
>>>>>>>>>
LookBack := Input("Look Back Periods",1,1000,10);
Resistance :=ValueWhen(1,Cross(Mov(C, LookBack,
S),C),HHV(H, LookBack));
Support :=ValueWhen(1,Cross(C,Mov(C, LookBack,
S)),LLV(L, LookBack));
Resistance;
Support;
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Rank: Member
Groups: Registered, Registered Users, Subscribers
Joined: 10/27/2007(UTC)
Posts: 11
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Thank you for the indicator. How do I determin how many periods to go back? I have attached a link to a chart for APH.V and using your indicator, gone back two periods. Tell me if I am wrong, but the support and resistance displayed by this indicator is not correct.
Thanks
http://charts.skunkwerkz.ca/aph3.gif
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