Re: Using daily bars on Weekly S/R

[Bob Fulks <bfulks@xxxxxxxxxxxx>]

You do not say what is not working so it is hard to suggest much.

   If DayOfWeek(currentdate)<=6 then plot1(value1,"Balance");

uses the "CurrentDate" which is the date of your computer clock
(unless you are receiving real-time data) You probably want to use
"Date" instead which is the date on each bar.

The expression for Value5 is very complicated. I have seen problems
evaluating complex expressions so I would break it into multiple
expressions.

   Plot3 [AbsValue(-4)](Average(Value5,5),"Avg");

I would not use a function in the offset for the Plot statement. Try:

   Plot3 [4](Average(Value5,5),"Avg");

Hope some of this helps.

Bob Fulks

At 9:59 PM -0400 7/25/01, Danton Long wrote:

>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)))+((HighW(3)+LowW(3)+CloseW(3)))+((HighW(4)+LowW(4)+CloseW(4)))+((HighW(5)+LowW(5)+CloseW(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;