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Yes, those lines are, if those are daily bars, are based on the previous
day's H-L range. The formula for the center white line is
CL = (H+L+C)/3. The other lines are R1 =CL +0.5*(H-L) and R2=CL+1*(H-L),
and R3=CL+ 1.5*(H-L). Similarly for the S1,2,3 lines. Sometimes you will
see R1= CL+0.5*(H-L) and R2 = CL+0.618*(H-L), and R2 = CL+1.0*(H-L).
bobr
----- Original Message -----
From: "Michael Ferguson" <wl7bdn@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, August 14, 2001 11:21 AM
Subject: Re: [RT] Mkt - ESU1 August profile off topic
> Bob,
>
> Do these pivot lines agree with anything you use?
>
> They are the default supp-res lines in the software.
>
> Seem to be regarded by price.
>
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>
>
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>
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