Real author:
TOPpoint
Two pairs of support and resistance levels based on the candlesticks of the timeframe specified in the input parameters.
The formula for the calculation of the levels:
Res2 = ( Low + High + Close ) / 3 + ( High - Low ) * 0.618
Res1 = ( Low + High + Close ) / 3 + ( High - Low ) * 0.5
Sup1 = ( Low + High + Close ) / 3 - ( High - Low ) * 0.5
Sup2 = ( Low + High + Close ) / 3 - ( High - Low ) * 0.618
This indicator was first implemented in MQL4 and published in the Code Base at mql4.com on 30.01.2008.
The RES-SUP indicator
