TRADESTATION & SUPERCHARTS The focus of this month’s Traders’ Tips is the combination of a simple moving average with support and resistance, as presented by Dennis Tilley in his article “Moving averages with resistance and support.” I have integrated this very interesting concept into both an indicator and a system for TradeStation or SuperCharts. Notice that the EasyLanguage codes for the indicator and the system are very similar. We’ll begin with the indicator, named “Mov avg—supp/res.” The indicator has three inputs. “Price” and “length” are parameters for the basis of the moving average. “F” is the critical percentage, and should be entered as the percent value (8 = 8%). The plots for the indicator are as follows: the simple moving average line; points representing the support levels; and points representing the resistance levels. In order for the plots to appear correctly, the style for the indicator must be properly set (formatting information will follow the EasyLanguage code for the indicator). |
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