Good Morning Wall St.

Insights & Commentary, Education and Resources for Private and Institutional Traders

Erlanger Value Lines (EVL) : Sample Diagram

Erlanger Value Lines are designed to identify key levels for the intraday trader. These levels fall into three categories: Support/Resistance, Extreme, and Opening values. From a practical point of view, these levels act as targets and triggers for short-term trades. It is uncanny how these levels stop or turn back short-term price swings:

Support/Resistance levels are re-calculated each day based upon the previous day's trading. There are three lines in this category: support (green), resistance (red) and pivot (magenta.) Extreme levels reflect the final 2-hour high and final 2-hour low from the previous day's trading. We also calculate the close of 1 minute and 5 minute bar on the open.