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 is calculated using the following formula:

CDP = (High + Low + Close) / 3
WR = CDP + (High - Low) * 1.1 / 12
MR = CDP + (High - Low)
SR = CDP + (High - Low) * 1.1
WS = CDP - (High - Low) * 1.1 / 12
MS = CDP - (High - Low)
SS = CDP - (High - Low) * 1.1

Where WR/MR/SR are weak/medium/strong resistance levels and WS/MS/SS are weak/medium/strong support levels.

Usage Scenarios

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

Usage Recommendations

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