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Haha! Thanks for the discouragement :O
I wrote a couple of simple versions that work to a limited extend.
The first one was simply the highest hi is resistance, and the lowest lo is support.
The second was the linear regression of the highs (plus ATR or something) is
resistance, and the lin. reg. of the lows (minus ATR) is the support.
The first is great for 1998 thro 2003 in the S&P, but did nothing after that.
What movie do you mean? My memory for names is poorer than poor.
Jimmy Snowden on 25/07/08 15:06, wrote:
Don't you remember Bill's movie about systems? He said they had never
seen a support and resistance system that works. Poor Bill. I've
used several and they worked for me. Must be a fluke.
Sorry though I don't have any code anymore. I gave up systems and
went back to discretionary.
Jimmy
I'm busy writing a function in TS4 to determine the point on a support line for
tomorrow's bar underneath a range, using the Lows and gradients and a loop over
the lows to determine the 2 lowest price points from which to extrapolate.
Of course it's proving to be a complicated process and it occurred to me that it
might have been provided in TS2000i by default.
Plus of course it would also be nice to know if there are hundreds of TS traders
using support and resistance algorithms in their mechanical trading.
Anyone?
Thanks
Adam
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