# CM_OldSchool_Projected_high_Low

23443 vizualizações
23443
Heard this story from Larry Williams…the trader who holds the record for winning the U.S. Trading Championship by turning \$10K in to 2 Million.

A trader named Owen Taylor developed this formula as a Floor Trader before to calculate the Projected High and Low of the next day.

The formula worked so well…Owen charged other Traders 1K to get it.

I was pretty impressed with the results…so I coded it for the Weekly, Monthly, Quarterly, and Yearly Projected High Low.

While Owen considered these levels to be major support and resistance , Larry has developed many strategies based on the Breakout of the Projected High Low.

Therefore I coded it so the Levels would plot Yellow, and change to Green if the Projected High was taken out, and Red if the Projected Low was taken out.

***I’ve noticed on many instruments, Stocks, Index’s, Forex etc., depending on the instrument it works great as Support/Resistance or Breakouts.
***On a Daily Chart put the Quarterly and Yearly levels on SPY and EURUSD and go back about 10 years. Levels are pretty accurate.
```//Created by ChrisMoody 7-21-2014
//Daily, Weekly, Monthly, Quarterly, Yearly Projected Highs and Lows
//Obtained formula from Larry Williams, original formula from Owen Taylor
study(title="CM_OldSchool_Projected_High_Low", shorttitle="CM_OS_Proj_H_L", overlay=true)
sd = input(true, title="Show Daily Projected High Low?")
sw = input(false, title="Show Weekly Projected High Low?")
sm = input(false, title="Show Monthly Projected High Low?")
sq = input(false, title="Show Quarterly Projected High Low?")
sy = input(false, title="Show Yearly Projected High Low?")

pf = (hlc3) *2
pl = pf - high
ph = pf - low

dtime_pf = security(tickerid, 'D', pf[1])
dtime_pl = security(tickerid, 'D', pl[1])
dtime_ph = security(tickerid, 'D', ph[1])

pcolor_pl = close < dtime_pl ? red : yellow
pcolor_ph = close > dtime_ph ? lime : yellow

//Daily Projected High Low
offs_daily = 0
plot(sd and dtime_pl ? dtime_pl : na, title="Daily Projected Low",style=circles, color=pcolor_pl ,linewidth=3)
plot(sd and dtime_ph ? dtime_ph : na, title="Daily Projected High",style=circles, color=pcolor_ph ,linewidth=3)

//Weekly Projected High Low
wtime_pf = security(tickerid, 'W', pf[1])
wtime_pl = security(tickerid, 'W', pl[1])
wtime_ph = security(tickerid, 'W', ph[1])

wcolor_pl = close < wtime_pl ? red : yellow
wcolor_ph = close > wtime_ph ? lime : yellow

plot(sw and wtime_pl ? wtime_pl : na, title="Weekly Projected Low",style=circles, color=wcolor_pl,linewidth=4)
plot(sw and wtime_ph ? wtime_ph : na, title="Weekly Projected High",style=circles, color=wcolor_ph,linewidth=4)

//Monthly Projected High Low
mtime_pf = security(tickerid, 'M', pf[1])
mtime_pl = security(tickerid, 'M', pl[1])
mtime_ph = security(tickerid, 'M', ph[1])

mcolor_pl = close < mtime_pl ? red : yellow
mcolor_ph = close > mtime_ph ? lime : yellow

plot(sm and mtime_pl ? mtime_pl : na, title="Monthly Projected Low",style=cross, color=mcolor_pl,linewidth=3)
plot(sm and mtime_ph ? mtime_ph : na, title="Monthly Projected High",style=cross, color=mcolor_ph,linewidth=3)

//Quarterly Projected High Low
qtime_pf = security(tickerid, '3M', pf[1])
qtime_pl = security(tickerid, '3M', pl[1])
qtime_ph = security(tickerid, '3M', ph[1])

qcolor_pl = close < qtime_pl ? red : yellow
qcolor_ph = close > qtime_ph ? lime : yellow

//Quarterly Projected High Low
plot(sq and qtime_pl ? qtime_pl : na, title="Quarterly Projected Low",style=cross, color=qcolor_pl,linewidth=3)
plot(sq and qtime_ph ? qtime_ph : na, title="Quarterly Projected High",style=cross, color=qcolor_ph,linewidth=3)

//Yearly Projected High Low
ytime_pf = security(tickerid, '12M', pf[1])
ytime_pl = security(tickerid, '12M', pl[1])
ytime_ph = security(tickerid, '12M', ph[1])

ycolor_pl = close < ytime_pl ? red : yellow
ycolor_ph = close > ytime_ph ? lime : yellow

//Yearly Pivots Plots
plot(sy and ytime_pl ? ytime_pl : na, title="Yearly Projected Low",style=cross, color=ycolor_pl,linewidth=3)
plot(sy and ytime_ph ? ytime_ph : na, title="Yearly Projected High",style=cross, color=ycolor_ph,linewidth=3)
```
That is just the traditional pivot point calculation already available in builtin tab
Resposta
Looks amazing Chris. this is like the stuff I was asking your; it matches with the fibs I have in my chart.
Resposta
Thanks Chris!
Resposta
Can you please explain what is the logic behind this indicator? How are the levels calculated?
Resposta
Great indicator Chris, having an issue with levels showing on daily charts though with daily checked. Can you think of anything I may be able to do to fix? thx
Resposta
first , Thanks a lot for sharing this script ;
when I combined this script with yours (CM_Williams_Vix_Fix Finds Market Bottoms) ; I found it amazing specially when green bar appears and price hit the projected bottom.

would you please create another script to finds market top ?

Thanks again
Resposta
Good job. Thanks for sharing.
Resposta
DanialRosli
Thank You
Resposta
thx for the script Chris keep up the awsome work....
Resposta