Closer 3 Historical Weely high and Low to entry price

• 02/06/2017 at 1:32 PM #24096
  CKW

  Hi Nicholas & all,

  Is there a way to identify R1, R2, R3 from previous Weekly High (s) (e.g. A list of previous Weekly High, over the last 6 months)

  S1, S2, S3 from previous Weekly Low (s) (e.g. A list of previous Weekly Low, over the last 6 months)

  It forms resistance Zone and Support Zone in 3 levels. The R is not the Top 3 highest but  closer 3 price levels which higher & closer to entry price. Same for S.

  R3, R2, R1, Entry Price, S1, S2, S3

  The Idea is to use this data to estimate the SL & TP level

  Can you advice if we already have something like this in forum ?

  Br, CKW

   

  

  CKW

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  02/06/2017 at 3:50 PM #24120
  Nicolas

  I don’t remember have seen something like this in the forums before.

  It would not be so tricky to make something like this as an indicator. Each Friday at close we store the actual week high / low in two of 6 variables (previous 3 weeks high/low) and display them all as lines on charts.

  

  Nicolas

  Keymaster

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