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Hi all
I was wondering if there is an indicator that will show Support and
Resistance areas based on the frequency of the close/high/low have hit
a certain price and provide a rating. An example from a
website:
http://www.stockconsultant.com/consultnow/basicplus.cgi?symbol=vlo#ttop
• | Support and resistance types vary from Single (S), Double (D), Triple (T) and more than Triple (T+).
(S,D,T,and T+ are the labels used on the 6 month chart) |
• | The type refers to the number times a
stock has visited that resistance or support area over the past 6
months (Single=1 time, Double=2 times, Triple=3 times, Triple+= more
than 3 times). The more times a stock has visited a particular price
area in the past the stronger the resistance or support. |
• | Also provided is a strength number which varies from 1-10. This number represents the amount of
accumulation or distribution used to create that support or resistance. |
• | Weaker resistance and support levels created with light distribution or accumulation have
strength values from 1-3. |
Thanks
Tony
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