This method of technical analysis developed by John Tirone in his book "Classical Technical Analysis as a Powerful Trading Methodology".
Formulas:
Tirone Level 1 = Hhigh - (Hhigh-Llow)/3
Tirone Level 2 = Llow + (Hhigh-Llow)/2
Tirone Level 3 = Llow + (Hhigh-Llow)/3, where
Hhigh and Llow is a maximum and minimum prices in the range from i-Period to i.
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