MIKE (Mike Base)

Indicator Description

MIKE (Mike Indicator) is a support and resistance indicator that reflects the market's trading range and trend changes by calculating support and resistance levels for different periods.

Function Information

• Function Name: MIKE
• Input Parameters: High, Low, Close
• Parameter Settings: timeperiod (default: 13)
• Output: wr, mr, sr, ws, ms, ss

Calculation Principle

MIKE forms the price trading range by calculating support and resistance levels for different periods. WR, MR, and SR are resistance levels; WS, MS, and SS are support levels, reflecting the market's trading range.

Application Scenarios

1. Support and resistance judgment
2. Price range analysis
3. Trend reversal identification
4. Trading signal generation

Usage Suggestions

1. Price breaking above resistance can be seen as a sell signal
2. Price breaking below support can be seen as a buy signal
3. Use in combination with different periods
4. Pay attention to changes in range width