Does anyone have an equation to calculate S/R levels from downloaded data in an Excel spreadsheet? I've tried several variations using moving averages, slope, mode, etc., but I'm not getting the results. Seems it should be possible, but the logic is alluding me. Also getting confused about whether to use O, H, L, or C values, true average value, etc. If the solution occurs to me, I'll post it. Just thought I'm probably recreating the wheel. Good Luck and Big Profits, Shorty
You can calculate pivot points from end of day daily OHLC data - if that's what you want to call S/Rs. Plug in a search and you should come up with the formulas. Whether you'll find the old pivots of any use anymore is whole other issue.
What I'm looking for is a calculation for medium/long term S/R. There are very obvious, observable S/R levels you can arrive at by looking at charts, but the ones I'm looking to automate are those where the noise in the charts drowns out the true S/R level. I'm familiar with pivot points but they're really only applicable to recent OHLC and mostly useless. I've tried using the inflection points from a SMA, slope of the linear regression, determining the mode of the data series, but nothing is providing exact enough feedback. I'll keep plugging away until I get it.