Dear Friends ,
I personnely find these level very usefull for trading , luckily on another forum requested a fellow for the formula and got it ,thus found it to share here many thanks to all traders who share
regards
{CPATJsLevelsReduced}
PH:=ValueWhen(1,
(DayOfMonth() <> Ref(DayOfMonth() ,1)),
HighestSince(1,DayOfMonth() <> Ref(DayOfMonth() ,-1) ,H )) ;
PL:=ValueWhen(1,
(DayOfMonth() <> Ref(DayOfMonth() ,1)),
LowestSince(1,DayOfMonth() <> Ref(DayOfMonth() ,-1) ,L )) ;
PC:=ValueWhen(1,
(DayOfMonth() <> Ref(DayOfMonth() ,1)), C);
PR:= PH - PL;
RD:= PC + 0.927*PR;
RC:= PC + 0.691*PR;
RB:= PC + 0.545*PR;
RA:= PC + 0.309*PR;
NU:= PC + 0.073*PR;
ND:= PC - 0.073*PR;
SA:= PC - 0.309*PR;
SB:= PC - 0.545*PR;
SC:= PC - 0.691*PR;
SD:= PC - 0.927*PR;
RD;
RC;
RB;
RA;
NU;
ND;
SA;
SB;
SC;
SD;
In the above MetaStock formula, change the coefficients in the same order as given below for Normal, Extended and Reduced as follows :
NORMAL
1.500
1.118
0.882
0.522
0.118
-0.118
-0.500
-0.882
-1.118
-1.500
EXTENDED
2.427
1.809
1.427
0.809
0.191
-0.191
-0.809
-1.427
-1.809
-2.427
REDUCED
0.927
0.691
0.545
0.309
0.073
-0.073
-0.309
-0.545
-0.691
-0.927
these are sd sb sc sa na nu ra rb rc rd
