[CP_CALCULATED_FIELDS id=”1″ ]
The support and resistance values are calculated using following formulas.
Resistance Levels
- R5 = R4 + 1.168 * (R4 – R3)
- R6 = (High/Low) * Close
- R4 = Close + (High – Low) * 1.1/2
- R3 = Close + (High – Low) * 1.1/4
- R2 = Close + (High – Low) * 1.1/6
- R1 = Close + (High – Low) * 1.1/12
Support Levels
- S1 = Close – (High – Low) * 1.1/12
- S2 = Close – (High – Low) * 1.1/6
- S3 = Close – (High – Low) * 1.1/4
- S4 = Close – (High – Low) * 1.1/2
- S5 = S4 – 1.168 * (S3 – S4)
- S6 = Close – (R6 – Close)
