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mike
Someone send this in the metastocklist try ploting it in the same window of
the security, instructions below
[],s J.Carlos
Countback down trend
ValueWhen(1,C < Ref(C,-2) AND
C < Ref(C,-1) AND
Ref(H,-2) > Ref(H,-1) AND Ref(H,-1) > H,Ref(H,-2))
Countback up trend
ValueWhen(1,C > Ref(C,-2) AND
C > Ref(C,-1) AND
Ref(L,-2) < Ref(L,-1) AND Ref(L,-1) < L,Ref(L,-2))
{In a falling trend, one counts back two higher highs and then projecting a
horizontal line to the right. A close above this resistance suggests that
the trend has changed. In a rising trend, it is calculated by counting
back two lower lows.A close below this support line suggests that the trend
has changed. The countback line can be used to fine tune entry and exit
points.Plot them directly on the price bars}
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> From: michael.arnoldi@xxxxxxxx
> To: metastock-list@xxxxxxxxx
> Subject: support & resistance
> Date: Sábado, 18 de Outubro de 1997 13:51
>
> in user's manual of ms 6.0 on page 211 there is a formula for support &
> resistance. has anyone tried it ?
> i ploted it as a drop on indicator on top of a chart with out a scale &
> all i get is a horizontal line with a few spikes here & there, when
> dropped with integrating with scale, i get a flat line at zero - any
> ideas ?
>
> mike
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