Simple Moving Average with Resistance and Support

Simple Moving Average with Resistance and Support
In this volume, Dennis L. Tilley uses support and resistance to confirm the price and SMA crossover signals in his article "Simple Moving Average with Resistance and Support.
In MetaStock for Windows, you can easily recreate the SMARS indicators discussed in the article is Tilley. First, choose Indicator Builder from the Tools menu in MetaStock 6,5. Next, select New and enter the following formula:
Resistance and Support
LookBack: = Input ("Look Back periods", 1,1000,10);
Resistance: ValueWhen = (1, Cross (Mov (C, LookBack, S), c), HHV (H, LookBack));
Support: ValueWhen = (1, Cross (C, MOV (C, LookBack, S)), LLV (L, LookBack));
Resistance;
Support;
Resistance and Support * F
PrCnt: = Input ("Percentage", 0,100,10);
LookBack: = Input ("Look Back periods", 1,1000,10);
Resistance: ValueWhen = (1, Cross (Mov (C, LookBack, S), c), HHV (H, LookBack));
Support: ValueWhen = (1, Cross (C, MOV (C, LookBack, S)), LLV (L, LookBack));
Resistance * ((100-prcnt) / 100);
Support * ((prcnt/100) 1);
Note * It is easier to see the difference between the actual "resistance and support lines and" Resistance and Support * F "if the lines change color and / or style of one of them. *
To display the indicators in MetaStock 6,5 Drag the "Moving Average" indicator from the Indicator QuickList the price window. Select Simple as the method, enter time periods, and then click OK.
Now drag "resistance and support" from the indicator QuickList the price window. You will be prompted to enter a "Look Back" periods. You should select the same periods will be used to "Moving Average".
Finally, pull "Resistance and Support * F" indicator in the price window. You will be prompted to enter the "Percent" and "Look Back" periods. If you want the indicator to be 10% difference from resistance and support line to enter the 10th You should select the same periods will be used to "Moving Average".