Re: resistance and support

[tradeshark@xxxx]

Hi,

first, the formula is not from me but from Anthony Faragasso and 
downloadable from the AB AFL site.

The chart shows the various S/R and Pivot points as small dots above, 
below and in the middle of each barchart - the values are for the 
next trading day.

This formula is mainly to be used as Guru Expert, where you can see 
the number in writing.

If you want to have candles and Levels as lines rather than dots, try 
this modified version :

MaxGraph =8;

p = (H+L+C)/3;
r1 = (2*p)-L;
s1 = (2*p)-H;
r2 = p +(r1 - s1);
s2 = p -(r1 - s1);

Graph0=p;
Graph1=r1;
Graph2 = s1;
Graph3= r2;
Graph4 = s2;

Graph0Style = Graph1Style = Graph2Style = Graph3Style = Graph4Style = 
1;
Graph0Color = 2;
Graph1Color = Graph2Color = 8;
Graph3Color = Graph4Color = 6;

Graph5 = Close;
Graph5Color = 3;
Graph5Style = 64;

Title = Name() + ", PP: " + WriteVal(Graph0) + ", R1: "+ WriteVal
(Graph1) + ", S1: "+ WriteVal(Graph2) + ", R2: " + WriteVal(Graph3) 
+ ",S2: " + WriteVal(Graph4);

I personaly don't use the graphs at all. I use only the values as 
indicator and let the values display in an indicator window without 
any graphs ( together with my money-management systems values for 
each stock )

You'll probably have to customize accountsize value and the risk 
tolerance per position( 2% in my case ).
I used standard 10K account size ( see graph4 )
Positionsize is determined based on underlyings volatility, risk 
tolerance and accountsize.

If you want to try it, here it is :

MaxGraph = 10;
Graph1 = EMA(Close,5)-(EMA(ATR(1),10)*1.50);
Graph1Style = 16;
Graph2 = EMA(Close,5)+(EMA(ATR(1),10)*2.5);
Graph2Style = 16;
Graph3 = EMA(Close,5)+(EMA(ATR(1),10)/4);
Graph3Style = 16;
Graph4= ((10000)*2/100)/(EMA(Close,5)+ (EMA(ATR(1),10)/4)-(EMA
(Close,5)-(EMA(ATR(1),10)*1.25)));
Graph4Style = 16;
p = (H+L+C)/3;
r1 = (2*p)-L;
s1 = (2*p)-H;
r2 = p +(r1 - s1);
s2 = p -(r1 - s1);

Graph5=p;
Graph6=r1;
Graph7 = s1;
Graph8= r2;
Graph9 = s2;

Graph5Style = Graph6Style = Graph7Style = Graph8Style = Graph9Style = 
16;

Title = Name() + "- EntL:" + WriteVal(Graph3) + ", Stop:"+ WriteVal
(Graph1) + ", PT: "+ WriteVal(Graph2) + ", MaxPos:" + WriteVal
(Graph4)+ ", PP:" + WriteVal(Graph5) + ", R1:"+ WriteVal(Graph6) 
+ ", S1:"+ WriteVal(Graph7) + ", R2:" + WriteVal(Graph8) + ",S2:" 
+ WriteVal(Graph9);

regards
Stefan

--- In amibroker@xxxx, "Dr. S. Nathan Berger" <snberger@xxxx> wrote:
> Hello, Stefan,
> 
> Would you please post a picture of how the graph appears? I am not 
sure
> what comes from my computer argees with what you have in your mind.
> 
> Thanks,
> 
> Nate
> 
> 
> 
> At 11:29 AM 11/2/01 -0000, you wrote:
> >Hello Tom,
> >
> >for which time frame ?
> >
> >Here's the formula ( expert ) for the next trading day :
> >
> >/* Pivot points and Support and Resistance Points*/
> >/* for next day trading*/
> >/* coded by Anthony Faragasso */