- Levine's method is simple. Anchor a moving average from a significant top and bottom, factoring in the volume. Create a hierarchy of such supports/resistances. Use other indicators to arrive at a conclusion as to whether the scrip is anticipated to receive resistance or support at the moving average.The steps suggested by Levine were to use the mean of the day (i.e. (H+L)/2)) but somehow, I find "better" results with (H+L+C)/3.Whenever I refer to price, I now mean the close weighted average.It becomes a little complicated from here on.For every tick passed, we have to cumulate the (price x volume), and add the particular day's price x volume. From this we have to deduct the start date's price x volume. This figure has then to be divided by the
*difference*of the*cumulative*volume from today's cumulative volume and the starting date's cumulative volume.Trying to make things a little simpler.Let's assume that the anchor tick is "a". Each subsequent tick is "b".Mathematically, it can be represented by this equation.S/R (a,b) =(cumulative of (Pr x Vol)(a) - cumulative of (Pr x Vol)(b)) /(cumulative(Vol)(a) - cumulative(Vol)(b))wherePr = (H+L+C)/3Vol = Volumea = Launch Tickb = Subsequent Tickin metastock I have written this formula.{Get Date of High or Low Average Price}day1:= Input("Enter Date - mmddyy",010100,123199,010101);

m1:= Int(day1/10000);

d1:= Int(day1/100) - (m1*100) ;

y1:= If(Mod(day1,100)>30, 1900+Mod(day1,100), 2000+Mod(day1,100));{Take the Low Price on anchor date}VL1:= ValueWhen( 1, Month() = m1 AND DayOfMonth() = d1 AND Year() = y1, L);{Take the elapsed ticks}LB1:= BarsSince(L=VL1);{The Operative Formula}Cum( If(Cum(1) < lb1, 0, Typical()*V)) / Cum(If(Cum(1), =, 1, 1, If(Cum(1) < lb1, 0, V)));In Windows on Wall Street, the custom indicator will be:cum((h+l+c)/3*v*if(cum(1)>days,1,0))/cum(v*if(cum(1)>days,1,0))Hope this helps in your quest to understand Levine's Winmidas. Also hope I have not confused you further.Dusant - Thanks Dusant ,

I'll give it a try.

vin

--- In technicalanalysismethods@y..., "Dusant" <cooldush@h...> wrote:

> Levine's method is simple. Anchor a moving average from a

significant top and bottom, factoring in the volume. Create a

hierarchy of such supports/resistances. Use other indicators to

arrive at a conclusion as to whether the scrip is anticipated to

receive resistance or support at the moving average.

> The steps suggested by Levine were to use the mean of the day (i.e.

(H+L)/2)) but somehow, I find "better" results with (H+L+C)/3.

> Whenever I refer to price, I now mean the close weighted average.

> It becomes a little complicated from here on.

> For every tick passed, we have to cumulate the (price x volume),

and add the particular day's price x volume. From this we have to

deduct the start date's price x volume. This figure has then to be

divided by the difference of the cumulative volume from today's

cumulative volume and the starting date's cumulative volume.

> Trying to make things a little simpler.

> Let's assume that the anchor tick is "a". Each subsequent tick

is "b".

> Mathematically, it can be represented by this equation.

>

> S/R (a,b) =

> (cumulative of (Pr x Vol)(a) - cumulative of (Pr x Vol)(b)) /

> (cumulative(Vol)(a) - cumulative(Vol)(b))

>

> where

> Pr = (H+L+C)/3

> Vol = Volume

> a = Launch Tick

> b = Subsequent Tick

>

> in metastock I have written this formula.

>

>

> --------------------------------------------------------------------

------------

>

> {Get Date of High or Low Average Price}

> day1:= Input("Enter Date - mmddyy",010100,123199,010101);

> m1:= Int(day1/10000);

> d1:= Int(day1/100) - (m1*100) ;

> y1:= If(Mod(day1,100)>30, 1900+Mod(day1,100), 2000+Mod(day1,100));

>

> {Take the Low Price on anchor date}

> VL1:= ValueWhen( 1, Month() = m1 AND DayOfMonth() = d1 AND Year() =

y1, L);

>

> {Take the elapsed ticks}

> LB1:= BarsSince(L=VL1);

>

> {The Operative Formula}

> Cum( If(Cum(1) < lb1, 0, Typical()*V)) / Cum(If(Cum(1), =, 1, 1,

If(Cum(1) < lb1, 0, V)));

>

> --------------------------------------------------------------------

------------

>

> In Windows on Wall Street, the custom indicator will be:

> cum((h+l+c)/3*v*if(cum(1)>days,1,0))/cum(v*if(cum(1)>days,1,0))

>

> Hope this helps in your quest to understand Levine's Winmidas. Also

hope I have not confused you further.

>

> Dusant