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Hello Everyone,
I've been working on a study that Kelly Korynta developed using daily bars
to identify weekly support/resistance levels. Unfortunately, I have been
unable to modify it to work.
My goal is too measure the difference between (v1 and the prev weeks
low) then add to v1 for resistance. Then measure the diff between (prev
weeks high and V1) and project down from v1 for support
I would appreciate any help.
Thanks in advance
Dan
Inputs: Weeksago(1),envper(2);
Value1=(HighW(WEEKSAGO)+LowW(WEEKSAGO)+CloseW(WEEKSAGO))/3;
Value2=Value1*(envper/100);
Value3=Value2+Value1;
Value4=Value1-Value2;
Value5=(((HighW(1)+LowW(1)+CloseW(1)))+((HighW(2)+LowW(2)+CloseW(2)))+((High
W(
3)+LowW(3)+CloseW(3)))+((HighW(4)+LowW(4)+CloseW(4)))+((HighW(5)+LowW(5)+Clo
seW(5))))/15;
If currentbar>35 then begin;
If DayOfWeek(currentdate)<=6 then plot1(value1,"Balance");
Plot2(Value5,"DBP");
Plot3 [AbsValue(-4)](Average(Value5,5),"Avg");
end;
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