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Mike,
If you can, can you explain a little bit the why of these equations. I am
interestedin the mathematical why? Or what is the mathematical intent, if any?
To me undersanding the math behind it helps me to get a better feel for when to
use an indicator and if it works for special cases.
I see in each case the numerator is similiar to the numerator of the typical
price. Except for the 2* weighting that occurs in each variation.
The denominator 2 - Low seems a bit arbitrary.
But for all I knoe it could be coming from some other formula.
Thanks,
Harley Meyer
On Sat, 14 Jun 1997 15:37:16 -0400,
MICHAEL J ARNOLDI wrote...
>NEXT DAY'S HIGH PRICE TARGET:
> WriteIf( o>c, "WriteVal(( h+2*l+c)/2-l)", " ")
> WriteIf( o<c, "WriteVal((2* h+l+c)/2-l)", " ")
>WriteIf( o=c, "WriteVal(( h+l+2*c)/2-l)", " ")
>NEXT DAY'S LOW PRICE TARGET:
> WriteIf( o>c, "WriteVal(( h+2*l+c)/2-H)", " ")
> WriteIf( o<c, "WriteVal(( 2*h+l+c)/2-H)", " ")
>WriteIf( o=c, "WriteVal(( h+l+2*c)/2-H)", " ")
>
>
>the above serves as a predictor of how the market or stock might move the
>rest of the day, after a few minutes of trading, when you can find out
>the opening price.
>
>when i'm getting to trade this info is very useful, especially when i am
>at work and can't access market info. i place my order according to the
>predicted price range relative to what the opening price is.
>
>the projected high serves as resistance, while the projected low serves
>as support.
>
>mike
>
>
Harley Meyer
meyer093@xxxxxxxxxx
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