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> What is R1 is that percent R?
> What is S1 is that stochastic if so which one,K,D?
Nono... they are the old "trader's pivots". R & S stand for resistance
and support levels. I think our pal, Neal W., wrote a book about them. I
don't use them and this is from memory but the logic is something
like....
[high, low, and close are yesterday's daily values]
pivot = (high + low + close)/3
or (high + low + 2*close)/4
or (high + low + close + today's open)/4
or..... pick your favorite
R1 = pivot + (pivot - low)
R2 = pivot + (high - low)
S1 = pivot - (high - pivot)
S2 = pivot - (high - low)
There's an ELA somewhere on the omega site. I forget what it's called.
--
Dennis
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