Tirone levels

ronnyskog

Newbie
6 0
Does anyone have any experience trading with Tirone levels? I’m starting to look into day trading and wonder if Tirone levels could be a useful tool to predict levels of support and resistance?

The levels are calculated as follows:

Support2: Subtract the low from high and add this value to the Adjusted Mean.
Support1: Subtract the low from the value of the Adjusted Mean multiplied by two.
Adjusted Mean: Sum of the high, the low, and the most recent closing price, divided by three.
Resistance1: Subtract the high from the value of the Adjusted Mean multiplied by two.
Resistance2: Subtract the low from the high and then subtract this value from the Adjusted Mean.

Somewhat similar to Camarilla levels it seems.
 

TheBramble

Legendary member
8,394 1,170
Ronny, I have in the past used Tirone, Pivot Points and Camarilla.

IMO none of them are any better/worse than a visual id of where support and resistance lie.

As part of a managed system (risk & money) Tirone will do as well as any other.
 
 
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