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This is very simple:
Input: Len(3);
value1 = Average(High,Len) - Average(TrueRange, 3);
value2 = Average(Low, Len) + Average(TrueRange, 3);
Plot1(value1, "Sup");
Plot2(value2, "Res");
H
--- Husky <husky@xxxxxxxxxxxxxxxx> wrote:
> 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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