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The article is pretty clear, its the indicators given that are not clear, as they are
more then far from what support & resitance+levels are all about. Horizontal +
vertical trendlines for S&R work far better on daily data, as they tightly surround
price, best expressed in channels.
Bang your head against a wall and you will most likely know what resistance is......
That is certainly not some line vagualy floating in a chart. And thats what they do,
no bindings with the underlays. Much like the Fibionacy levels: Made up by humans.
Same goes for the other S & R formulas available(Equis' Dynamic Trading software
packet, Mell Widners Auto S&R indicators), wich formulas basicaly ALL need to be
rewritten, with the, in this not realy applicable, exception of Andrew Abrahams trends
trailing indicator, wich on the other hand is well to be used for S&R.
Also changing your data from daily to weekly data and even in volatile markets(now)
to monthly data will provide for the better "indications".
Regards,
Ton Maas
Ms-IRB@xxxxxxxxx
-----Oorspronkelijk bericht-----
Van: Lian PL <lianpl@xxxxxxxxxxxxxx>
Aan: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
CC: OPIECJ@xxxxxxx <OPIECJ@xxxxxxx>
Datum: maandag 19 oktober 1998 12:14
Onderwerp: SMARS
>I refer to the September articel in TASC on above. Does anyone know how
>to really use the R and S part. The article isn't too clear. Can someone
>explain please?
>
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