ThinkScripter - Custom ThinkScript Indicators for thinkorswim » cyclic http://www.thinkscripter.com Custom ThinkScript Indicator Scripts for thinkorswim Mon, 28 Jun 2010 02:18:58 +0000 en hourly 1 http://wordpress.org/?v=3.0 Sine Wave Cycles http://www.thinkscripter.com/2010/02/06/sine-wave-cycles/ http://www.thinkscripter.com/2010/02/06/sine-wave-cycles/#comments Sat, 06 Feb 2010 19:09:41 +0000 ThinkScripter http://www.thinkscripter.com/?p=1966 By popular request, here is my incarnation of a sine wave cycle support and resistance study similar to Barry Taylor’s excellent indicator (TradeStation, NinjaTrader, MultiCharts) over at Emini-Watch. The indicator plots support and resistance levels based on John Ehlers’ MESA Sine Wave. The advantage of the MESA Sine Wave is in identifying cyclical turning points before they occur; 1/8th of a cycle prior according to Ehlers. The study begins plotting the horizontal dots (white overhead resistance, red support) when a cycle turn is predicted and will continue until the next cycle turn occurs. When the market begins to trend and is no longer cyclic, the price levels are seen to be breakout points. Also pictured is a new version of the Volume Profile that allows you to stack as many profiles as you desire to create a plot with greater detail.

Sine Wave Cycles Support and Resistance

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