Automatic Support and Resistance for Metastock

{Indicators:}
S1: IF(Ref(LOW,-4)=LLV(LOW,9),Ref(LOW,-4),PREVIOUS)
S2: IF(Fml("S1")=Ref(Fml("S1"),-1),PREVIOUS,Ref(Fml("S1"),-1))
S3: IF(Fml("S1")=Ref(Fml("S1"),-1),PREVIOUS,Ref(Fml("S2"),-1))
S4: IF(Fml("S1")=Ref(Fml("S1"),-1),PREVIOUS,Ref(Fml("S3"),-1))
S5: IF(Fml("S1")=Ref(Fml("S1"),-1),PREVIOUS,Ref(Fml("S4"),-1))
S6: IF(Fml("S1")=Ref(Fml("S1"),-1),PREVIOUS,Ref(Fml("S5"),-1))

WSO: 100*(1­(Int(Fml("S1")/CLOSE)+Int(Fml("S2")/CLOSE)+Int(Fml("S3")/CLOSE)+Int(Fml("S4")/CLOSE) +Int(Fml("S5")/CLOSE)+Int(Fml("S6")/CLOSE))/6)

R1: IF(Ref(HIGH,-4)=HHV(HIGH,9),Ref(HIGH,-4),PREVIOUS)
R2: IF(Fml("R1")=Ref(Fml("R1"),-1),PREVIOUS,Ref(Fml("R1"),-1))
R3: IF(Fml("R1")=Ref(Fml("R1"),-1),PREVIOUS,Ref(Fml("R2"),-1))
R4: IF(Fml("R1")=Ref(Fml("R1"),-1),PREVIOUS,Ref(Fml("R3"),-1))
R5: IF(Fml("R1")=Ref(Fml("R1"),-1),PREVIOUS,Ref(Fml("R4"),-1))
R6: IF(Fml("R1")=Ref(Fml("R1"),-1),PREVIOUS,Ref(Fml("R5"),-1))

WRO: 100*(1­(Int(Fml("R1")/CLOSE)+Int(Fml("R2")/CLOSE) +Int(Fml("R3")/CLOSE)+Int(Fml("R4")/CLOSE) +Int(Fml("R5")/CLOSE)+Int(Fml("R6")/CLOSE))/6)

{The indicators S1 through S6 and R1 through R6 should be plotted as points and not as a continuous line.

Trading System Formulas and Parameters: Enter long positions on either building support or sustained uptrend and exit position using stops. No short positions.}

Enter Long: Fml("WSO") > Mov( Fml("WSO") , 4 , S ) OR Mov( Fml("WRO") , 30 , S ) > 95

{Stop Out:

Breakeven stop: Floor level at 2%

Trailing stop: Profit risk of 10 Percent, ignoring 10 periods

Maximum loss stop: Maximum loss of 7%

Other Conditions:

Initial equity = 1000, Long positions only, Trade price = close, Trade delay = 0, Entry commission = 0%, Exit commission = 0%, , Interest rate = 5%, Margin req. 100%}