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Joe Duffy's S & R - 3x5ATR |
| I do, however, have one more question. I recently came across a technique
published in Futures Magazine used by Joe Duffy for identifying S&R
levels. He calls the indicator the 3x5ATR. I'm sure this can be created/reproduced
in Ensign, but I'm having a tough go of it. He defines the construction
below: 1. Add up the true ranges for the last five days and divide by five. This is the 5ATR. 2. Calculate a three-day simple moving average of the highs and a three-day simple moving average of the lows. 3. To calculate the 3x5ATR for potential resistance, add the 5ATR to the three-day moving average of the lows. To calculate the 3x5ATR for support, subtract the 5ATR from the three-day average of the highs. Can you help me with this? Thanks in advance. Thanks for the information. Here is the implementation. Sincerely, Howard Arrington
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