Support & Resistance
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I am new with MT - I still little confuse with the language
can some one help me tranfer this indicator from Visual trading language to MT Language?
Res :=valuewhen(1, Cross(Mov(C, LBP,S),C), HHV(H, LBP));
Sup :=valuewhen(1, Cross(C,Mov(C, LBP,S)), LLV(L, LBP));
in human language...
Resistance = when "CLOSE" cross moving average happen, draw the highest value for LPB period.
Support = when Moving average cross "CLOSE" happen, draw the Lowest value for LBP period.
Mov is moving average,
LBP is Look back period
HHV is Highest High value for LBP
LLV is Lowest Low value for LBP
Valuewhen(Nth, EXPRESSION,Dataarray) is Returns the value of the DATA ARRAY when the EXPRESSION was true on the Nth most recent occurrence.
Sincerely
David. G