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April 2014 Stocks and Commodities Traders Tips


Evidenced-Based Support & Resistance

AIQ Version:

Original article by Melvin E. Dickover
AIQ Code by Richard Denning

The AIQ EDScode for Melvin E. Dickover’s article, “Evidence Based Support & Resistance”, can be found below:

The code provided will allow the user to plot the two indicators as show in Figure 1.

Captions:
Figure 1 –Relative Volume and Freedom of Movement indicators, on a chart of Adobe Systems (ADBE). The horizontal lines are set at two standard deviations. .

EDS Code:
Evidence SR.EDS
(right click and choose Save As)


 

Traders Studio Version :

Original article by Melvin E. Dickover
Traders Studio Code by Richard Denning

The Trader's Studio code for Melvin E. Dickover’s article, “Evidence Based Support & Resistance”, can be downloaded below:

The following code files are contained in the download below:

  • Function MED_NORMALIZE - returns a normalized value that can be used to make comparisons
  • Function MED_RELATIVE_VOLUME - returns the values for the Relative Volume Indicator
  • Function MED_FREEEDOM_MOVE - returns the values from the Freedom of Movement Indicator
  • Indicator MED_RELATIVE_VOLUME_IND - indicator plot for the Relative Volume Indicator
  • Indicator MED_FREEDOM_MOVE_IND - indicator plot for the Freedom of Movement Indicator
In Figure 1, I show the two indicators, Freedom of Movement and Relative Volume, on a chart of Alaska Air (ALK). The horizontal lines are set at two standard deviations.

Captions:
Figure 1 – Freedom of Movement (yellow) and Relative Volume (green) indicators shown on a chart of Alaska Air (ALK).

Traders Studio Code:
MED_Evidence S&R_TSZ.zip
(right click and choose Save As)

 

 

 

 

 

 

 

 

 

 

 

 

 

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