Murrey Math Lines Indicator

Murrey Math Lines indicator creates eight different lines (pivot lines) on a chart to locate potential support and resistance areas. This trading indicator helps you find the best points to buy, short, sell and cover positions.

The function, whose name is "MurreyMath", requires a lookback period that will be used to construct pivot lines. Each line has its own color and characteristic:
Top Line: Hardest line to rise above
7/8 Line: Fast reverse line (weak)
6/8 Line: Pivot reverse line
5/8 Line: Upper trading range
4/8 Line: Major reversal line. When stock is trending up, this line represents a major resistance and it represents a major support when the stock is trending down.
3/8 Line: Lower trading range
2/8 Line: Pivot reverse line
1/8 Line: Fast reverse line (weak)
0/8 Line: Oversold area. A stock is likely to reverse when it reaches this baseline.

The Murrey Math Line indicator can be updated so that you pass a parameter (which represents the line number) and it returns the line value. This is useful if, for example, you want to scan the entire market looking for stocks that are near the "Pivot reverse line".

Example:

if(LineNumber[0] == 1)
{
      result = line1;
}
else if(LineNumber[0] == 2)
{
      result = line2;
}

Technical Analysis

• DV Intermediate Oscillator (DVI)
• Bulls and Bears Strategy
• Stock Bounces off its Previous Resistance or Support Line
• Highest close
• Accumulation Swing Index (To measure long term trends)
• Gap Up/Down Market Breadh Indicator
• Rank Industries based on the average Relative Strength Index
• Advance/Decline NYSE, Amex and NASDAQ issues
• Longterm Investments
• NYSE Up-Down Volume Ratio - Historical & Intraday
• More trading objects...

Fundamental Analysis

• Cash ON Hand for US stocks
• Threshold Securities - NASDAQ
• Number of IPOs per Day - Trading Composite
• Industrial Production Index - IPI - Historical data
• Analyst Rating (Yahoo Historical Buy/Sell Recommendations)
• Forex Trading Indicator - Percent Positive Economic Calendar Releases
• Roubini Sentiment Indicator
• StockTwits
• Smartmoney news for US equities
• Stock Grade - Fundamental Analysis
• More trading objects...