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Groups: Registered, Registered Users, Subscribers Joined: 10/29/2004(UTC) Posts: 1,394 Location: Glastonbury, CT
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This indicator is included in the Fibonacci trader program, I have adapted it to plot the weekly Support and Resistance lines on a daily chart.
Plot them on the daily price chart, change the color of the top 2 lines to dark red and style to dots,the next two lines should be red and plot as dots
the middle line is blue, the next 2 lines should be light green and plotted as dots, and finally the bottom 2 lines are dark green and plotted as dots
A1:=BarsSince(DayOfWeek()=5)=1;
A2:=BarsSince(DayOfWeek()=5)=6;
CON:=If(BarsSince(A1)<BarsSince(A2),-1,If(BarsSince(A1)>BarsSince(A2),1,0));
WH:=If(Con=-1,ValueWhen(1,DayOfWeek()=5,Ref(HHV(H,5),-1)),If(Con=1,ValueWhen(1,DayOfWeek()=4,Ref(HHV(H,4),-1)),ValueWhen(1,DayOfWeek()=5,Ref(HHV(H,5),-1))));
WL:=If(Con=-1,ValueWhen(1,DayOfWeek()=5,Ref(LLV(L,5),-1)),If(Con=1,ValueWhen(1,DayOfWeek()=4,Ref(LLV(L,4),-1)),ValueWhen(1,DayOfWeek()=5,Ref(LLV(L,5),-1))));
WCL:=If(Con=-1,ValueWhen(1,DayOfWeek()=5,Ref(C,-1)),If(Con=1,ValueWhen(1,DayOfWeek()=4,Ref(C,-1)),ValueWhen(1,DayOfWeek()=5,Ref(C,-1))));
BP:=(WH+WL+WCL)/3;
D:=((WH-WL)/2)+BP;
B:=BP-((WH-WL)/2);
D1:=(WH-WL)+BP;
B1:=BP-(WH-WL);
SB1:=BP-((WH-WL)*.618);
SB2:=BP-((WH-WL)*1.382);
RB1:=((WH-WL)*.618)+BP;
RB2:=((WH-WL)*1.382)+BP;
RB2;D1;RB1;D;BP;B;SB1;B1;SB2;
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