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Jerry:
Although I haven't looked into coding it, it would seem that you could
simply use the HHV and LLV function with various lookback periods, and allow
for a % difference limitation. For instance, say you took the 60, 45, and
30 day highs and there were 3 discrete values, all of which were within 5%
of each other. That could easily provide support levels on the high side.
Does everyone agree with this type of approach?
Will Poirier
>From: "Gerald Novak" <gnovak@xxxxxxxxx>
>Reply-To: metastock@xxxxxxxxxxxxx
>To: "list Group Metastock \(E-mail\)" <metastock@xxxxxxxxxxxxx>
>Subject: Support & Resistance?
>Date: Fri, 23 Nov 2001 11:24:36 -0600
>
>Does anyone use Metastock Explorations to determine Support/Resistance?
>I know that I can visually determine a line over the past X months, but I'm
>wondering if there is an approximate formula that can be applied to an
>exploration to determine those stocks hitting up against support or those
>stocks hitting up against resistance.
>
>Jerry
>
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