[Metastockusers] More Clayburg

[Kevin <kevin_barry@xxxxxxxxxxxxxx>]

A little while ago, I posted an indicator that highlighted candlestick 
formations as they were forming on realtime charts. Here is a variation 
that will highlight Clayburg's support and resistance points as they are 
developing:

Create a new indicator called Clayburg S/R Histogram (or whatever). Paste 
in the following formula:

{Category 1 High}
Cat1H:=
If(Ref(H,-1) < H AND
    Ref(H,+1) < H,
    1, 0);

{Category 1 Low}
Cat1L:=
If(Ref(L,-1) > L AND
    Ref(L,+1) > L,
    -1, 0);

{Category 2 High}
Cat2H:=
If(Ref(H,-2) < H AND
    Ref(H,-1) < H AND
    Ref(H,+1) < H AND
    Ref(H,+2) < H,
    2, 0);

{Category 2 Low}
Cat2L:=
If(Ref(L,-2) > L AND
    Ref(L,-1) > L AND
    Ref(L,+1) > L AND
    Ref(L,+2) > L,
    -2, 0);

{Category 3 High}
Cat3H:=
If(Ref(H,-3) < H AND
    Ref(H,-2) < H AND
    Ref(H,-1) < H AND
    Ref(H,+1) < H AND
    Ref(H,+2) < H AND
    Ref(H,+3) < H,
    3, 0);

{Category 3 Low}
Cat3L:=
If(Ref(L,-3) > L AND
    Ref(L,-2) > L AND
    Ref(L,-1) > L AND
    Ref(L,+1) > L AND
    Ref(L,+2) > L AND
    Ref(L,+3) > L,
    -3, 0);

Cat1H;
Cat1L;
Cat2H;
Cat2L;
Cat3H;
Cat3L;

When you have finished, plot the indicator on any chart. Click on one 
example of each of the six plots and change the style to histogram and, if 
you prefer, the high plots to green and the low plots to red. Add one 
horizontal line with a value of zero for aesthetic reasons. Save as a 
template. The height of each line will indicate which category has been 
identified corresponding to the Y-axis scale.

Cat 3 S/R points are more significant than Cat 2, which, in turn, are more 
significant than Cat 1. The indicator will automatically upgrade the 
category as and when the need arises.

Enjoy,
Kevin



------------------------ Yahoo! Groups Sponsor ---------------------~-->
Buy Ink Cartridges or Refill Kits for your HP, Epson, Canon or Lexmark
Printer at MyInks.com. Free s/h on orders $50 or more to the US & Canada.
http://www.c1tracking.com/l.asp?cid=5511
http://us.click.yahoo.com/mOAaAA/3exGAA/qnsNAA/zMEolB/TM
---------------------------------------------------------------------~->

To unsubscribe from this group, send an email to:
Metastockusers-unsubscribe@xxxxxxxxxxx

 

Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/