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WSO

Article/Author: "Automated Support and Resistance", Mel Widner, Ph.D., S&C Magazine, Traders Tips, 05/1998

Download: suppres.ela

File Includes:
Function - WSO
Function - WRO
Indicator - Support-Resistance
Strategy - Support-Resistance

Category: Function > WSO

Description:

Inputs:

EasyLanguage Code:
INPUTS: STRENGTH(NUMERIC), LENGTH(NUMERIC);

VARS: SCALC(0);
ARRAY: SUPPORT[100](0);

CONDITION1 = SWINGLOW(1, LOW, STRENGTH, STRENGTH+1) <> -1;

IF CONDITION1 THEN BEGIN
FOR VALUE1 = 100 DOWNTO 2 BEGIN
SUPPORT[VALUE1] = SUPPORT[VALUE1-1];
END;
SUPPORT[1] = LOW[STRENGTH];
END;

IF SUPPORT[LENGTH] <> 0 THEN BEGIN
SCALC = 0;
FOR VALUE1 = 1 TO LENGTH BEGIN
SCALC = SCALC + INTPORTION(SUPPORT[VALUE1] / CLOSE);
END;
WSO = 100 * (1 - (SCALC / LENGTH));
END ELSE
WSO = 0;

{COPYRIGHT 1998 TECHNICAL ANALYSIS, INC.}