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.
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.
