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To James in LA,
SuperCharts & TradeStation provide a Support/Resistance indicator. The
icon looks like a set of horizontal lines.
I've customized my icon bar to include the S/R icon and have edited the
default values as follows:
1.382
1.618
3.000
0.382
0.500
-0.382
-0.618
-1.000
-2.000
-3.000
I set the Alert off. I'll often use my trendline indicator, with Alert
defaulted to On, superimposed on key S/R prices that closly match previous
Pivot Points. This is my entry point, subject to other qualifiers. I'll
often exit at the projection, or with a trailing stop.
The above series calculates the Fibonacci retracements and Fibonacci
projections which frequently become the support and resistance of all price
movement. Don't ask me why it works. As Conan the Barbarian says, "Thats
another story".
Find the a low Pivot Point on your chart and drag to the High Pivot Point.
See the fits? Who were the fools that said that stocks follow a random
walk?
On another note, Advanced Get is a suberb product and is based on Elliot
Wave which contains many of the elements of the Fibonacci ratios.
Happy trading,
Jack Hutchison
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