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The followig code is for support and resistance and I use on a daily
realtime chart. This takes into account previous days quote data.
This is not intraday support and resistance. However, I can not
create single horizontal lines that are for only for the previous
day. This formula posts a continuous line for each day that I do not
want to show up on my chart. I just want to creat a single
horizontal line for each area and eliminate previous days s & P.
Basically I want to create a better looking chart.
Thank You
MR
//Support AND Resistance Lines Formula
PP = Ref(((H + L + C)/3),-1);
Range = Ref((H-L),-1);
R1 = PP + (PP-Ref(L,-1));
R2 = PP + Range;
R3 = R1 + Range;
R4 = R2 + Range;
S1 = PP - (Ref(H,-1)-PP);
S2 = PP - Range;
S3 = S1 - Range;
S4 = S2 - Range;
Plot(C, "Close", 5, styleCandle);
Plot(PP,"Pivot",1,styleLine);
Plot(S1,"Pivot",2,styleLine);
Plot(R1,"Pivot",3,styleLine);
Plot(S2,"Pivot",2,styleLine);
Plot(R2,"Pivot",3,styleLine);
Plot(S3,"Pivot",2,styleLine);
Plot(R3,"Pivot",3,styleLine);
Plot(S4,"Pivot",2,styleLine);
Plot(R4,"Pivot",3,styleLine);
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