Originally developed by Owen Taylor developed this formula as a Floor Trader before to calculate the Projected High and Low of the next day. He holds the record for winning the U.S. Trading Championship by turning $10K into 2 Million. Designed only for intraday trading.
How To Use:
It is based on simple support and resistance
technique. It is very simple and easy to use.
Top yellow line = Resistance
Bottom yellow line = Support
Top yellow line turn to green = Breakout up
Bottom yellow line turn to red = Breakout down