Click here to Login








Murrey Math Lines Indicator

by Patrick Fonce, 3057 days ago
Share |






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;
}


Share This ->
Share |


You have to log in to bookmark this object
What is this?
Additional Information




Type: Trading Indicator

Object ID: 998


Country:
All

Market: All

Style:
Technical Analysis

Reviews
You must log in first

Join now
and get instant access for free to the trading software, the Sharing server and the Social network website.
Click here


Related objects

Empty

Number of reviews
Click to add a review
Average rate
Click to rate this item
Number of times this object was downloaded
Number of rates the current object received
Report an object
if you can't run it for example or if it contains errors
Click to report this object

Technical Analysis


Fundamental Analysis



Random Blog Posts

Buy the best/top rated stocks or how to create powerful rank based trading systems

Ranking stocks based on their correlation with the S&P 500 Index

Creating Stock & Market Short Interest Ratios using Historical Short Sale Data

Select the best ETFs combination to maximize your return and reduce your investment risk

How to turn any ordinary trading strategy into a very profitable one

Charting & Scripts - Manage stock charts using the global script

Trading System: Buy Stocks based on their Sharpe Ratio Rank

Creating and managing notes for your stocks

Show All

Number of reviews
Click to add a review
Average rate
Click to rate this item
Number of times this object was downloaded
Number of rates the current object received
Report an object
if you can't run it for example or if it contains errors
Click to report this object






QuantShare
Product
QuantShare
Features
Create an account
Affiliate Program
Support
Contact Us
Trading Forum
How-to Lessons
Manual
Company
About Us
Privacy
Terms of Use

Copyright 2019 QuantShare.com
Social Media
Follow us on Facebook
Twitter Follow us on Twitter
Google+
Follow us on Google+
RSS Trading Items



Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.