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November 2014 Stocks and Commodities Traders Tips


Price Projections

AIQ Version:

Original article by Sylvain Vervoort
AIQ Code by Richard Denning

The code provided runs on daily bars only and computes the various support and resistance levels for the next day’s intraday trading. The levels cannot be plotted on the Real Time Alerts chart.

In Figure 1, I show a report run on the major indexes for 9/10/2014.

Captions:
Figure 1 – Support and resistance levels calculated based on end of day data as of 9/10/2014 for the major indexes. The levels are for use in intraday trading for the next day (9/11/2014).

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


 

Traders Studio Version :

Original article by Sylvain Vervoort
Traders Studio Code by Richard Denning

The following code files are contained in the download from the websites:

  • Function PIVOTS: returns the pivot point and all the support and resistance levels based on daily high, low & close of the input data. This is the value for the next day if the input is the current end of day close
  • Indicator plot PIVOTS_IND: plots the from the PIVOTS function on the next day’s intraday bars shifted back one day
  • System DISPLAY_PIVOTS: this is not a trading system but just my way of displaying the levels on a chart

The support and resistance levels can be displayed on any historical intraday chart. The code uses the same data file compressed to daily data by setting it up as the child data stream with the type set to daily. Note that this cannot be used to trade intraday as TradersStudio does not as yet have a real time module.

In Figure 1, I show a chart of the emini futures contract (ES) 60 minute bars with the support and resistance levels calculated from yesterday’s daily bar data.

Captions:
Figure 1 – chart of the emini futures contract (ES) 60 minute bars with the support and resistance levels calculated from yesterday’s daily bar data.

Traders Studio Code:
SVE_Pivots_TSZ.zip
(right click and choose Save As)

 

 

 

 

 

 

 

 

 

 

 

 

 

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