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Got this off a website, any way to make this in TS?
Here is one methodology that is being described for the first time.
Unfortunately, there is no neat name for this indicator, so I'll just call
it the 3x5ATR. To construct it:
1. Add up the true ranges for the last five days and divide by five. This is
the 5ATR.
2. Calculate a three-day simple moving average of the highs and a three-day
simple moving average of the lows.
3. To calculate the 3x5ATR for potential resistance, add the 5ATR to the
three-day moving average of the lows. To calculate the 3x5ATR for support,
subtract the 5ATR from the three-day average of the highs.
>From http://www.futuresmag.com/library/daytrade97/day7.html
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